Saudi Arabia offered a $1 billion financial package to Yemen’s Houthi rebels through an Iran-brokered deal to secure a ceasefire and halt attacks on the kingdom, according to a report by Israel Hayoman Israeli newspaper.
The report by Israel Hayom cites Gulf diplomatic sources and states that the proposal aims to completely halt Houthi strikes on Saudi infrastructure.
The deal was reportedly discussed during a surprise visit by Saudi Defence Minister Prince Khalid bin Salman to Tehran, where Iran offered to act as a regional diplomatic mediator. The report alleged that the Saudi minister carried the $1 billion physically aboard a Hercules military transport aircraft on which he arrived in Tehran.
In an official statement, the Saudi Foreign Ministry said that, “The visit to Tehran by Prince Khalid bin Salman, the defense minister, and representatives of the member states of the Mecca Joint Defence Alliance comes as part of the alliance’s ongoing efforts to de-escalate tensions between the parties to the current crisis, encourage dialogue and diplomatic solutions, and support the mediation efforts undertaken by the State of Qatar and the Islamic Republic of Pakistan.”
The meeting was organised by Saudi Arabia’s allies from the Mecca defence pact. Participants in the discussions include Pakistan’s army chief, Field Marshal Asim Munir, and Turkish intelligence chief Ibrahim Kalin.
Despite the Mecca Joint Defence Agreement, which mandates collective military assistance upon an attack, both Pakistan and Turkey have fallen short of delivering full-scale support and have limited their response to military advisors rather than active combat or reinforcement forces.
Meanwhile, Masoud Pezeshkian, Iran’s president, Secretary of the Supreme National Security Council of Iran, Mohsen Rezaei and Islamic Revolutionary Guard Corps officials were there to represent the country.
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Ongoing Houthi strikes against Saudi Arabian airports and oil infrastructure have dealt a massive financial blow to the kingdom. Simultaneously, Iranian aggression toward tankers in the Strait of Hormuz has severely choked Middle Eastern oil exports.
Houthi attacks had also forced the closure of Riyadh airport for days and caused a major investment conference to be postponed.
Why $1 Billion?
A Saudi official who spoke to Israel Hayom said that the conflict with the Houthis stems partly from the failure to implement agreements established three years ago.
Under the proposed agreement, Saudi Arabia agreed to provide direct financial aid to the Houthis to help secure a peace settlement. This funding was meant to rebuild civilian infrastructure and pay public-sector wages in Houthi-controlled territories.
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In exchange, the Houthis were required to maintain the ceasefire and stop attacking Saudi Arabia.
However, in current times, the Houthis have justified their attacks by saying that Saudi went back on their agreement. Iran has helped them in doing so.
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