Saudi Arabia is facing mounting pressure from attacks by Yemen’s Houthi rebels, who have been targeting key Saudi oil refineries and military installations with advanced drones and missiles. Intercepting the strikes has proved a major challenge for the kingdom’s air defenses, and the continued hostilities are weighing heavily on global oil exports.
In an effort to restore normal crude shipments and halt the attacks, Riyadh has reportedly put forward a sweeping proposal: about $1 billion, roughly Rs 9,500 crore, in exchange for a full ceasefire agreement with the Houthis.
Regional diplomacy has intensified in recent days. Saudi Defense Minister Prince Khalid bin Salman made a sudden visit to Tehran, a move that has stirred Gulf politics. Reports indicate that Iran, a key backer of the Houthis, is acting as a central mediator in the negotiations, while Pakistan’s Army Chief, Field Marshal Asim Munir, is also said to be involved in the talks.
According to Israeli media outlet Israel Hayom, the $1 billion in cash was transported aboard the Hercules military cargo aircraft that carried the Saudi defense minister. The Saudi government has not officially confirmed either the cash transfer or the offer.
If the deal goes through, oil transport across the Gulf region is expected to gain further momentum. However, the claims currently rest on a single media report and remain unverified.