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Assuming that Israel and the moderate Arabs agree that Iran posses a huge threat to all the members of this coalition, they need to regard their actions as acts of war -- meant to destroy or at least seriously weaken the common enemy: the Iranian regime. The first action, which can be instituted very quickly, is for Saudi Arabia and the other Gulf states to up oil production, thereby driving the price of oil sharply downward. When the price of oil drops below $55/ barrel, Iran loses money by exporting its oil. The loss of oil revenues would quickly cause Iran to run short of funds for its nuclear and weapons programs, as well as placing additional pressures on an already disgruntled Iranian populous, increasing the chances for a revolution to oust the mullah/Revolutionary Guards regime.

Cutting off trade with Iran, while expensive to the Gulf states, ultimately would prove much cheaper than losing independence or having to field a military capable of preventing Iranian imperial designs. Iran still remains very vulnerable to a gasoline embargo -- it needs to import about 40% of what it consumes despite currently being the world's second largest oil producer. If Abu Dhabi, Dubai, and Doha stop trading with Iran the affects will be felt immediately. Add to that a blockade of Iranian shipping and the situation becomes serious in a flash.