Iran and Saudi Arabia’s political détente matters not only for the two countries but also for their regional partners, including Lebanon. The rapprochement offers Beirut some hope of resolving its interweaving crises, which have partly been caused by tensions between the two regional powers. But any relief is unlikely to be imminent, and important questions—such as the position of Lebanon’s powerful Hezbollah movement—remain unclear.

A good deal for the region and Lebanon

Iran and Saudi Arabia on Mar. 10 announced a deal brokered by China to restore diplomatic relations and avoid interference in each other’s internal affairs. Riyadh cut ties with Tehran in 2016 in response to the storming of its diplomatic facilities by Iranian protesters over the execution of a dissident Saudi Shiite cleric.

Speaking to Amwaj.media, Lebanese analyst Kassem described the agreement as “a historic event,” and a positive step in terms of improving relations between Iran and Saudi Arabia. In his view, the deal may allow the region to avoid...