However, is has been received with much skepticism amongst the Arab nations who are worried it might do just the opposite: allowing Tehran to increase its war chest to fund the proxy wars and to extend its regional influence.
In the region, Iran’s biggest adversary is Saudi Arabia and they have been one of the biggest critics of this agreement that offers international sanctions to be gradually lifted in exchange for curb the nuclear program of Tehran.
One diplomat from Saudi Arabia described this agreement as very dangerous saying it gives a green light for Riyadh to begin its own nuclear program to put it on a more equal footing with Iran.
The fear for many is opening the economy in Iran and its revenues from oil following years of sanctions could embolden the country to seek yet a stronger hand across the region.
Saudi Arabia and its many allies have battled for a long time for influence with Iran.
Recently Iran extended power in its neighboring Iraq with Shiite militias that have surged into power.
It has used Hezbollah the Shiite militant group based in Lebanon, to help prop up Syria’s government led by Bashar al-Assad, while Saudi Arabia and a host of other nations in the Gulf have sided with the opposite side.
In Yemen, it is widely believed that Iran is backing the Houthi rebels that are fighting against a coalition that is Saudi backed.
The dismay felt by the Saudi’s and other has put them in a rare convergence with the state of Israel, whose leadership has denounced the accord with Iran as a victory for Tehran.
President Obama had attempted to assuage the fears back in May when leaders from the Persian Gulf were invited to a summit at Camp David, but the diplomat from Saudi Arabia said its concerns had not been addressed fully.