Saudi Defence Minister Prince Khalid bin Salman flew to Tehran in September 2024, where he met with Iranian President Masoud Pezeshkian, Turkish intelligence chief Ibrahim Kalin and Pakistan’s army chief Asim Munir, signalling a multilateral mediation effort—
Diplomatic sources claim the minister brought the $1 billion aboard a Hercules transport, yet a Saudi Foreign Ministry spokesperson denied any transfer. The offer echoes a three‑year‑old understanding that Saudi Arabia would provide funds to the Houthis in exchange for a ceasefire and reconstruction aid—
The Houthi rebels, controlling large swathes of northern Yemen, have struck Saudi airports and oil facilities since 2015, inflicting economic losses and prompting Riyadh to seek diplomatic resolution. Iran, which backs the Houthis, has positioned itself as a regional broker, while the US and Israel monitor the developments—
The Saudi statement framed the visit as part of the Mecca Joint Defence Alliance’s de‑escalation mission, stressing that Riyadh would not accept a ceasefire under “military blackmail” and that funds would be released only if the Houthis relinquished captured territory—
If the money is transferred, a joint monitoring mechanism will verify Houthi compliance, potentially leading to a formal ceasefire. Riyadh is expected to present the proposal to the cabinet by early October, with a vote on the deal pending—