India, Oct. 27 -- Saudi Arabia has offered a $1 billion financial package to Yemen's Houthi rebels as part of efforts to secure a ceasefire and stop attacks on the kingdom's critical infrastructure, according to a report by Israeli newspaper Israel Hayom. The alleged proposal, which involves Iran acting as a mediator, comes amid escalating regional tensions and disruptions to oil exports.

The report, published on Monday, cited Gulf diplomatic sources who said Saudi defence minister Prince Khalid bin Salman travelled to Tehran for discussions aimed at ending Houthi attacks on Saudi territory. One source claimed that the minister brought the money aboard a Hercules military transport aircraft.

Saudi Arabia's foreign ministry confirmed tha...