Reports suggest that Saudi Arabia might offer Iran a path to relieve the sanctions-strapped economy in exchange for Iran reducing its support for Hamas. The claim is attributed to Bloomberg and cited by sources close to both Arab and Western governments.
Officials familiar with the matter indicate that the offer was placed through direct channels and other diplomatic conduits in the wake of Hamas’s attack on Israel and the ensuing Gaza war last month.
Details of the discussions emerged at a business gathering in Riyadh, where Prince Mohammed bin Salman and Iranian President Ibrahim Raisi met during the Summit of the Organization of Islamic Cooperation and the League of Arab States. The discussions reportedly touched on broader regional security and economic issues amid the ongoing crisis.
There are also indications that regional actors, including the United States and several Arab partners, are coordinating efforts to curb Iran’s ability to equip its regional allies in Palestine, Lebanon, Iraq, Syria, and Yemen with weapons or support. The aim is to prevent a wider escalation that could destabilize the already fragile situation across the Middle East.
Previously, Iran signaled a reluctance to escalate the conflict in the region, stressing a desire to avoid a broader confrontation that could draw in additional powers or inflame sectarian tensions. In a related thread, Tehran reportedly conveyed to Israeli authorities its own considerations regarding the broader conflict with Hamas, underscoring a cautious approach to risk and regional repercussions.