Iran and Saudi Arabia will resume normalised relations after 7 years following mediation by China. Wang Yi score a diplomatic coup

Adding on:
I believe there is one more significant impact:Pretty huge, so to speak:
1. Normalization of Saudi-Iran relations is a massive stabilizing factor for West Asia.
2. China plays a very important role in achieving this (by serving as a neutral ground between Riyadh and Tehran to reconcile).
3. Both Saudi Arabia and Iran are currently eyeing for entry into BRICS.
The reconciliation between Riyadh and Tehran can become a crucial stepping stone for the formal expansion of BRICS by bringing both of them into the organization.
Moreover, having two rivaling powers situated just across the gulf joining in the same group can provide a great impetus for other willing countries elsewhere to join BRICS as well, i.e. Argentina, Indonesia, Egypt, Algeria etc - By showcasing that even members with vastly conflicting stances and interests are able to co-exist within this umbrella-style multinational organization.
As the most powerful economic power in BRICS, this move is a massive diplomatic and influential boost for Beijing on the global stage.
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