Despite deep differences shown during 2003 Iraqi crisis, European Union  expresses a joint policy towards the Persian Gulf. This is essentially based on the equation: “economy” = “development” and so “security and stability”. Economy is the tool which is really trans-European: it means that despite some different approaches on few geopolitical issues of its members, it remains fundamental pillar on which a real “European Foreign Policy”, can be built. During last years, this particular approach allowed EU: i) to start a fruitful discussion with GCC countries about a Persian Gulf currency union, ii) to include in its Agenda establishment of a free trade area with the GCC countries, iii) start negotiations for an EC-Iran Trade and Cooperation agreement, iv) to involve Iran, Iraq and Yemen in this process. All these actions will allow EU to create an area of dialogue, cooperation and exchange, which is one of the EU top priorities. A new wider space of cooperation composed of the countries belonging to the MENA region, GAFTA, Persian Gulf, Iraq and Yemen. While European Union has chosen a “more economic” approach, US policy towards the Persian Gulf is “more political”. US equation is: “freedom and democracy” – even coercively imposed = “security and stability for a specific area” = “security and stability for the US”. But in some parts of the world this strategy showed some imperfections (Afghanistan), demonstrating its fallacy (Iraq). In some cases US applied political model which doesn’t reflect social, political realities and doesn’t respect historical roots and heritages of the area.