Bloomberg reported today, Wednesday, that Saudi Arabia offered Iran enhanced cooperation and economic investment "if Tehran prevents its regional proxies from escalating the ongoing conflict between Israel and Hamas in Gaza." The agency cited Arab and Western officials familiar with the matter, stating that the Saudi proposal was presented directly as well as through multiple channels since Hamas attacked Israel last month and the subsequent war in Gaza.
According to sources, who spoke on condition of anonymity due to the sensitive nature of the discussions, the possibility of deeper engagement also emerged during a meeting between Saudi Crown Prince Mohammed bin Salman and Iranian President Ebrahim Raisi on the sidelines of the exceptional Arab-Islamic summit held in Riyadh earlier this month.
A source described by the agency as "from the Saudi side" and knowledgeable about high-level communications confirmed that the Crown Prince's focus is on de-escalating tensions with Iran. The source added that Mohammed bin Salman and his aides expressed Saudi concerns regarding Iran's support for armed groups in the Arab world, while also touching on the benefits of cooperation.
The agency noted that "although it is unclear how serious Tehran is about engaging with Riyadh's initiative, a regional war has been avoided so far," adding that "Saudis and their Arab allies remain fearful of the possibility should Israel continue its military campaign aimed at eliminating Hamas."
Bloomberg pointed out that "a Saudi Foreign Ministry official and the spokesman for the Saudi embassy in Washington could not immediately respond to requests for comments."
