New Delhi, Oct. 27 -- Saudi Arabia has reportedly offered $1 billion to Yemen's Houthi rebels under a proposed arrangement brokered by Iran to secure a ceasefire and halt attacks on the kingdom, Israeli media outlet Israel Hayom reported, citing diplomatic sources in the Gulf.

The reported proposal comes amid efforts to contain regional tensions and prevent further attacks on Saudi territory, including oil infrastructure, airports and military installations.

According to the report, Saudi Defence Minister Prince Khalid bin Salman travelled to Tehran on Monday for talks with Iranian officials on a possible ceasefire with the Houthis, who are aligned with Iran.

The proposed arrangement reportedly involves transferring $1 billion to the g...