The Yemen crisis, owing to its multidimensional nature, has become one of the most significant crises in the Middle East. The central research question is: What are the key drivers of the Yemen crisis, and what impact will the Iran–Saudi agreement of March 10, 2023, have on the trajectory of the crisis? Given the exploratory nature of the study, no research hypotheses are proposed. The study adopts a mixed-methods approach. First, the influential variables affecting the Yemen crisis are identified through a review of the relevant literature. Subsequently, experts in the field are asked to identify the key drivers of the crisis in light of the Iran–Saudi agreement using the Cross-Impact Matrix Multiplication Applied to Classification (MICMAC) method. The findings indicate that the decline of Saudi Arabia's traditional influence in Yemen is a primary driver of the evolving situation. In addition, the withdrawal of the Saudi-led coalition and the growing influence of the Islamic Revolutionary movement in Yemen are identified as among the most critical variables shaping crisis management. These variables have the potential to influence other factors, thereby creating a pathway toward effective crisis management.