New Delhi, May 12 -- What began as a temporary ceasefire has now lasted almost as long as the fighting that preceded it. America and Iran are nearing the sixth week of a truce announced on April 8th. Many in the Gulf had hoped it would bring a swift end to the war, and to the economic disruption it has caused. Instead they find themselves in limbo. The war may be paused, despite a few skirmishes in the Strait of Hormuz and Iranian attacks on the United Arab Emirates (uae). But there is no lasting peace either-and thus almost no traffic through the strait.

As the talks continue, some Gulf residents are starting to ask the unthinkable: what if this drags on for months? The Gulf Co-operation Council (gcc), a club of six petro-monarchies, ha...