Saudi Arabia has reportedly offered $1 billion to Yemen’s Houthi movement as part of an Iran-mediated effort to secure a ceasefire and stop attacks on the kingdom, according to Israeli media reports citing Gulf diplomatic sources. The reported proposal comes amid escalating regional tensions and renewed diplomatic efforts involving Saudi Arabia, Iran, Pakistan and Türkiye.

Saudi Defence Minister Prince Khalid bin Salman travelled to Tehran on Monday, October 26, for high-level discussions with Iranian officials and representatives of Pakistan and Türkiye. The talks focused on reducing regional tensions, addressing Houthi attacks on Saudi territory and exploring ways to establish a regional security framework.

According to a report by Israel Hayom, the proposed arrangement would involve transferring $1 billion to the Houthis through Iran in exchange for halting attacks. One diplomatic source claimed that the Saudi minister had brought the money aboard a Hercules military transport aircraft. However, the claim has not been independently verified, and a Saudi official did not confirm that any money had been transferred.

The Saudi Foreign Ministry said the visit was part of broader efforts by members of the Mecca Joint Defence Alliance to de-escalate tensions, encourage dialogue and support mediation efforts led by Qatar and Pakistan.

The diplomatic initiative comes as Houthi attacks have increasingly targeted Saudi airports, ports and oil infrastructure. On Monday, the Houthis claimed to have attacked Riyadh airport and oil pipeline pumping stations. Saudi Arabia did not immediately confirm the reported attacks.

The renewed violence has raised concerns about the security of critical energy infrastructure and the potential disruption of oil supplies. The wider regional conflict has also affected shipping through the Strait of Hormuz, a strategically important route for global energy trade.

Saudi Arabia and the Houthis had previously reached understandings aimed at reducing hostilities and addressing economic issues in Yemen. According to the Israeli media report, proposed financial assistance was intended partly to support public-sector salaries in Houthi-controlled areas and help rebuild civilian infrastructure. The implementation of those arrangements has remained contentious.

Pakistan’s army chief, Field Marshal Asim Munir, has also urged Iran to use its influence to persuade the Houthis to halt attacks on Saudi Arabia. Iran has offered to mediate between Riyadh and the Houthi movement.

The reported $1 billion proposal remains unconfirmed. Whether the latest diplomatic efforts can produce a lasting ceasefire remains uncertain as military operations and regional tensions continue.