The kingdom views the prospect of peace on its southern border "a more appealing goal" compared to joining any naval action after eight years of war with the rebel movement that drained Saudi coffers and helped drive Yemen into one of the world's most acute humanitarian crises, the newspaper reported on Monday.
Saudi Crown Prince Mohammed bin Salman Al Saud, whom the report described as the kingdom's "de facto" ruler, wants to transform it into a business hub by 2030 and seeks to resolve conflicts and soothe tensions across the Middle East, including through a rapprochement with Iran, its regional rival.
Yemen has been engulfed in an armed conflict between the government forces and the Houthi rebels since 2014. The situation exacerbated in March 2015, when the Saudi-led coalition, working in cooperation with the internationally-recognized Yemeni government, began conducting air, land and sea operations against the Houthis. The latter have retaliated by attacking Saudi forces and firing missiles into Saudi Arabia.
After the armed conflict between Israel and Palestinian movement Hamas escalated in October, the Houthis have intensified their attacks on cargo ships linked to Israel in the Red Sea and the Arabian Sea, vowing to continue them until Israel ends its military actions in the Gaza Strip.
Last week, US Secretary of Defense Lloyd Austin announced the establishment of a multinational operation to secure the Red Sea amid the surge in Houthis' attacks on cargo ships, saying that the United Kingdom, Bahrain, Canada, France, Italy, the Netherlands, Norway, the Seychelles, and Spain would take part in the mission. The Houthis, for their part, vowed to attack any ships that join the US-led maritime coalition.