what is the meaning of "lasting effect" in the following sentence?

[yabi]

source: https://thehill.com/policy/internat...-about-the-iran-saudi-deal-brokered-by-china/

The plan will return Saudi Arabia and Iran to normalized relations after the kingdom cut ties with the other nation in 2016, and will likely have lasting effects throughout the Middle East and the rest of the world.

I know the meaning of both lasting and effect but the combination confuses me as below:
Does it mean that Saudi Arabia will have the higher position the relation and will say the last word in the Middle East?
Or some how in this normalization of relationship this is Iran that gave concession?

 

[Tarheel]

It doesn't say anything about either conceding anything to the other.

Lasting effects are effects that last (endure, persist).

 

[teechar]

The plan will

1- return Saudi Arabia and Iran to normalized relations ...

2- will likely have lasting effects throughout the Middle East and the rest of the world.

The effects of the plan will likely/probably last for a long time.