Saudi Arabia has reportedly offered $1 billion to Yemen’s Iran-backed Houthi rebels to secure a ceasefire and restore oil exports amid rising tensions in the Middle East.
The proposed deal was discussed during negotiations in Tehran involving Saudi, Pakistani, Turkish and Iranian representatives. Pakistan Army Chief Field Marshal Asim Munir and Turkish intelligence chief Ibrahim Kalin reportedly participated in the talks.
According to reports published on October 27, Saudi Defence Minister Prince Khalid bin Salman visited Tehran to seek Iran’s help in reaching an understanding with the Houthis. The reported offer aims to stop attacks on Saudi infrastructure and protect vital energy supplies. However, neither the alleged payment nor a final ceasefire agreement has been independently confirmed.
The negotiations come amid renewed concerns over attacks on Saudi oil facilities and disruptions to oil shipments through the Strait of Hormuz.
Previous understandings reportedly included financial assistance for public-sector salaries and infrastructure reconstruction in Houthi-controlled areas, in exchange for ending attacks on Saudi Arabia.
Iran has offered to mediate between Riyadh and the rebels, potentially strengthening Tehran’s diplomatic influence in the region. Saudi Arabia, however, has reportedly opposed transferring funds before the Houthis return territory captured from Yemen’s internationally recognised government.