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Saudi Arabia has strongly rejected a report by The Wall Street Journal (WSJ) claiming that Yemen’s Iran-backed Houthi rebels demanded $51 billion from the kingdom in exchange for a negotiated end to hostilities.
Saudi Deputy Minister for Public Diplomacy Ambassador Rayed Krimly dismissed the reported demand, describing it as “pure fabrication by the writers or their alleged sources”.
In a statement posted on X, Krimly accused the Houthis of undermining Yemen’s internationally recognised government, worsening the humanitarian crisis and dragging the country into conflicts that do not serve the interests of its people.
He also accused the group of attacking commercial vessels in the Red Sea, targeting civilian and economic infrastructure, and rejecting international peace efforts.
“We also remind the writers that Yemen has a recognised government,” the Saudi official said.
WSJ Reports $51 Billion Houthi Demand
The Wall Street Journal reported, citing people familiar with the discussions, that Saudi Arabia had approached the Houthis to explore a possible negotiated halt to hostilities.
According to the report, the diplomatic contacts followed Houthi attacks on Saudi oil tankers in the Red Sea and the group’s seizure of territory overlooking the strategically important Bab al-Mandeb Strait.
The newspaper claimed that the Houthis had demanded $51 billion to compensate for years of Saudi airstrikes and a prolonged blockade.
Other financial figures were also reportedly discussed during the negotiations, according to sources cited by the publication.
The report further alleged that the Houthis wanted Saudi Arabia to formally recognise the group as Yemen’s ruling authority.
Riyadh, however, has categorically denied the reported financial demand.
Renewed Tensions Between Saudi Arabia and Houthis
The report and Saudi Arabia’s response come amid renewed tensions between Riyadh and the Houthis, against the backdrop of the wider Middle East conflict.
The latest escalation began on February 28, when the United States and Israel launched attacks on Iran, prompting Tehran to retaliate with strikes across the region.
In July, the Houthis reportedly contributed to renewed hostilities in Yemen by allowing an Iranian aircraft to land in defiance of Saudi restrictions on Yemeni airspace.
The Yemeni government responded by striking the airport, triggering further exchanges that undermined the 2022 truce.
Red Sea Attacks Raise Regional Security Concerns
Since the breakdown of the ceasefire, the Houthis have declared a maritime blockade targeting Saudi Arabia and launched attacks on oil tankers in the Red Sea, alongside strikes against Saudi territory.
The developments have raised fresh concerns about regional security, international shipping routes and the stability of the wider Middle East.
The Bab al-Mandeb Strait remains a strategically important maritime passage connecting the Red Sea with the Gulf of Aden and the Indian Ocean.
While the reported $51 billion demand has been rejected by Saudi Arabia, renewed hostilities highlight the challenges facing diplomatic efforts to secure lasting peace in Yemen.
