Yemen’s Iran-backed Houthis are demanding $51 billion from Saudi Arabia and official recognition as Yemen’s rulers as their conditions for ending hostilities with the kingdom, The Wall Street Journal reported Thursday, citing people briefed on the discussions.
According to the report, Saudi Arabia asked the Houthis what it would take to end the fighting after the group attacked Saudi oil tankers in the Red Sea and seized territory overlooking the Bab al-Mandeb strait, one of the world’s most important shipping lanes. The Houthis described the $51 billion as compensation for years of Saudi airstrikes and a prolonged blockade. The Journal noted that other sums have also been raised, all amounting to tens of billions of dollars.
Recognizing the Houthis as Yemen’s rulers would leave Riyadh with an Iran-backed adversary along its entire southern border. Saudi officials are concerned that meeting the demands could invite further attacks and additional financial demands.
The Journal reported that Crown Prince Mohammed bin Salman is reluctant to enter broad negotiations before military gains on the ground strengthen the kingdom’s position. At the same time, he fears that deploying more Saudi troops to Yemen could lead to heavy casualties and domestic backlash. Saudi Arabia has already suffered dozens of casualties in the fighting, which have not been publicly disclosed, according to the report.
The Houthi offensive inside Yemen, launched in September against the Saudi-backed government, has been widely viewed as part of Iran’s broader war against the United States and Israel. The Jerusalem Post has reported that Iranian Revolutionary Guard personnel are present in Yemen and closely involved in supervising the Houthis’ drone, missile, and intelligence operations, though more recent reporting suggests Tehran’s control over the group may have weakened.
The Houthis have repeatedly fired ballistic missiles and drones at Israel since joining the war in March, and their grip on the Bab al-Mandeb gives Iran-aligned forces leverage over a second major maritime chokepoint, opposite the Strait of Hormuz.
