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Many decision makers and analysts in Israel and around the world contend that Iran’s attainment of a military nuclear capability will increase nuclear weapons proliferation in the Middle East and create a multi-polar nuclear system in the region. Saudi Arabia, Turkey, and Egypt are considered the main candidates to go nuclear in order to balance Iran’s nuclear power. This article will test this argument primarily from the perspective of the motivations and capabilities that may spur these countries to develop a nuclear arms infrastructure. Even if “only” Iran and Saudi Arabia obtain nuclear capability, a new strategic situation will be created in the Middle East, with far reaching consequences for Israel.