​The Iranian nuclear agreement with the P5+1 countries raised speculations and questions that perhaps outnumber and outweigh those that accompanied the public and secret negotiations in the past phase. This is because Iran’s nuclear situation has become even more complex and ambiguous in terms of Iran’s relations with the Western states as well as with its neighbors in the Arab world, specifically the Gulf. The agreement carries regional and international significance on the political and economic levels, among others. This paper discusses the agreement and explores its various consequences on Iran, the region and the world.