This study aims to elucidate the mechanisms of "Pragmatic Multilateralism" in Saudi Arabia's foreign policy by examining the continuity of its strategic-security alliance with the United States alongside the deepening economic cooperation with China and Russia within the context of an emerging pluralistic order. The theoretical framework employs a hybrid approach: Neoclassical Realism is utilized to explain the structural drivers and the "why" behind this strategy, while Complex Interdependence Theory addresses the "how" and its operational mechanisms. Adopting a qualitative, explanatory-analytical method, the research focuses on Saudi Arabia as a case study from 2014 to 2024. The central research question explores how Saudi foreign policy has shifted toward pragmatic multilateralism through the interaction of systemic and domestic variables amidst the global geopolitical transition. The primary hypothesis posits that Saudi pragmatic multilateralism serves as a mechanism to sustain the traditional alliance with the U.S. while simultaneously expanding economic ties with the East via Positive Balancing; a strategy designed to avoid both divergence from the West and new dependencies on the East. Findings indicate that Riyadh has successfully transformed its security alliance with Washington from the traditional "oil-for-security" model into a balanced partnership based on mutual interests. Simultaneously, by attracting capital and technology from the East, the Kingdom has paved the way for its Strategic Autonomy.