The US has repeatedly over the past year been claiming that it is on the verge of signing a defense pact with Saudi Arabia. It is claimed that the treaty would entail Washington selling advanced arms to the Kingdom, commit to defending it against external attack, and help the Saudis develop their nuclear program. In exchange, Saudi Arabia would normalize relations with Israel, cease purchasing Chinese arms, and put a cap on Chinese investment.

However, long gone are the days when Riyadh...