$51 billion for peace? Houthis' hefty terms for ceasefire with Saudi Arabia
Houthi rebels have reportedly demanded $51 billion and official recognition as the rulers of Yemen in exchange for a ceasefire with Saudi Arabia. This proposal presents a significant strategic dilemma for Riyadh, which has long sought to avoid legitimizing the Iran-backed group on its border.
Why it matters
The demand underscores the high stakes of the Yemen conflict and the potential for a major shift in regional power dynamics if Saudi Arabia were to concede.
When Saudi Arabia went looking for a way to stop the fresh escalation after Yemen's Iran-backed Houthis attacked Riyadh's oil tankers in the Red Sea, what it heard back was a demand for USD 51 billion and recognition of the rebels as Yemen's rulers, according to The Wall Street Journal.The proposal would amount to far more than a financial settlement. Accepting it would mean Saudi Arabia effectively recognising an Iran-backed armed movement as the authority governing its southern neighbour, which is a major strategic concession for Riyadh.Houthi rebels have expanded their pressure on Saudi Arabia and made fresh territorial gains inside Yemen.
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