Yemen's Iran-backed Houthi movement has demanded $51 billion in compensation and formal recognition as the country's government in return for ending hostilities with Saudi Arabia, according to a report by The Wall Street Journal.
Citing people familiar with the talks, the newspaper said the Houthis framed the payment as compensation for years of Saudi-led airstrikes and a long blockade. Other figures have since been discussed, but any settlement would still run into tens of billions of dollars. Riyadh reportedly reached out to the group after it stepped up attacks on Saudi oil tankers in the Red Sea and seized territory overlooking the Bab el-Mandeb Strait.
Recognising the Houthis as Yemen's rulers would mean Saudi Arabia legitimising a movement it has fought for more than a decade. On Thursday, the Saudi-led coalition said it intercepted a missile fired towards Medina, while authorities warned of possible threats to the Red Sea oil hub of Yanbu and sent emergency alerts to residents of Sharurah near the Yemeni border.
Saudi Arabia has been seeking military support from partners in the US, Europe and West Asia. Egypt approved a military assistance role last month, and Britain said in October it would deploy fighter jets to help protect Saudi cities from Houthi aerial attacks.
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