Now let's break down the last part: "as Jewish people living a sovereign life in our historic homeland"
Or more succinctly: "as Jews living in our homeland"
IMHO this is a ploy to counter perceived Persian hegemony which scares the mohammed out of the Saudi's et al.
Once the Persian is no longer considered a threat they'll again focus their attention on the Jew living in the Moslem homeland.
"MHO this is a ploy to counter perceived Persian hegemony which scares the mohammed out of the Saudi's et al"
Bingo! You are the first one to get it. The Saudis are driving all the recent events in the middle east. And if they have to make deal with the Israelis to save the Kingdom from the Khomeiniacs they will do it. Imagine that, it will be the Israelis who have the Saudis' back in this conflict. It is a very strange world we live in. Well, maybe not so strange when you think about it.