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Saudi Arabia Announces $3 Billion in Urgent Support to Yemen

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Saudi Arabia Announces $3 Billion in Urgent Support to Yemen

Saudi Arabia welcomed the announcement of Yemeni President Abd Rabbo Mansour Hadi on launching the Presidential Council under the Yemeni constitution and the Gulf initiative and its executive mechanisms.

The Kingdom confirmed its full support for the Presidential Council and its supporting entities to enable it to exercise its duties in implementing effective policies and initiatives to achieve security and stability in Yemen and end the crisis, reported the Saudi Press Agency (SPA).

In this regard, Saudi Arabia announced providing urgent $3 billion support to the Yemeni economy.

The support includes $2 billion from Saudi Arabia and UAE to support the Central Bank of Yemen. The Kingdom will also grant $1 billion for petroleum products and development.

Riyadh called for an international conference to support Yemen's economy and said it would give $300 million to the United Nations aid response to Yemen's humanitarian crisis.

It aims to alleviate the suffering of the Yemeni people and improve their living and service conditions, calling for an international conference to mobilize the financial resources necessary to support the Yemeni economy and the Central Bank of Yemen and provide oil derivatives.

The Kingdom urged the Presidential Council to start negotiations with the Houthis under UN supervision to reach a final and comprehensive political solution that includes a transitional period that will move Yemen to peace and development and for the Yemeni people to enjoy security and stability.

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Iranian Official to Asharq Al-Awsat: Committed to Peace and Stability with Saudi Arabia

Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)
Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)
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Iranian Official to Asharq Al-Awsat: Committed to Peace and Stability with Saudi Arabia

Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)
Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)

Iranian Deputy Foreign Minister Majid Takht Ravanchi reaffirmed Iran and Saudi Arabia’s mutual determination to establish lasting peace and stability in the region.
Speaking to Asharq Al-Awsat during his visit to Riyadh, Ravanchi emphasized that achieving this goal requires sustained bilateral and regional cooperation to address current threats and build a foundation for prosperity and security.
During his meetings with the Saudi Vice Minister of Foreign Affairs, Eng. Waleed ElKhereiji, Ravanchi discussed strengthening bilateral relations in political, economic, and consular fields, and explored key regional and international issues.
He described Saudi-Iranian efforts as a “successful model of bilateral and multilateral cooperation,” aimed at fostering peace, security, and development on both regional and international levels. Ravanchi underscored the importance of historical ties and the principle of good neighborliness as the basis for advancing this relationship.
Following the second meeting of the Saudi-Chinese-Iranian trilateral committee in Riyadh, both Saudi Arabia and Iran reiterated their full commitment to implementing the Beijing Agreement, according to a statement by the Saudi foreign ministry. The accord, mediated by China, aims to restore diplomatic ties and promote mutual respect for sovereignty and security in accordance with the principles of the UN Charter, the Organization of Islamic Cooperation (OIC), and international law.
China praised the progress achieved since the agreement’s signing, including the reopening of embassies and increased bilateral engagement. It pledged to continue supporting Saudi-Iranian efforts to deepen their cooperation and maintain regional stability.
Ravanchi, who previously served as Iran’s ambassador to the United Nations and was a member of the Iranian nuclear negotiating team with the P5+1, described the atmosphere of the meetings as “cordial and transparent.” He added that the three nations exchanged views on topics of mutual interest and stressed the importance of continuing this “positive and forward-looking process.” He also revealed “constructive and friendly” meetings held by the Iranian delegation with their Saudi hosts and Chinese counterparts, during which they discussed enhancing bilateral and trilateral cooperation and reviewed developments in relations over the past year.
One significant development has been the improvement in consular services. Over 87,000 Iranian pilgrims performed Hajj, and more than 52,000 completed Umrah in the past year, demonstrating enhanced coordination. Additionally, the first meeting of the Saudi-Iranian Joint Media Committee and the signing of an MoU between Saudi Arabia’s Prince Saud Al-Faisal Institute for Diplomatic Studies and Iran’s Institute for Political and International Studies further strengthened institutional ties.
The trilateral meeting also tackled pressing regional challenges, particularly the Israeli-Palestinian conflict. The participants condemned Israel’s aggression in Palestine, Lebanon, and Iran, calling for an immediate cessation of hostilities and the continuation of humanitarian aid to affected regions. They warned that ongoing violence poses significant risks to regional and global security, including threats to maritime safety.
On Yemen, the parties reiterated their support for a comprehensive political solution under United Nations auspices. They emphasized the importance of dialogue and diplomacy to achieve lasting peace in the war-torn country.
Saudi-Iranian relations have undergone a remarkable transformation since the signing of the Beijing Agreement. The reopening of embassies, including Iran’s embassy in Riyadh in June after a seven-year hiatus, marked a turning point in their ties.
Iranian Deputy Foreign Minister for Consular Affairs Alireza Bigdeli described the day as a “historic milestone” in Saudi-Iranian relations. He expressed confidence that the renewed relationship would reach its peak, emphasizing that the restoration of ties between Iran and Saudi Arabia opens a new chapter in bilateral and regional relations, aimed at greater cooperation and stability.