Prince Saud said the plan was meant to stop a nuclear arms race
Gulf states are willing to set up a body to provide enriched uranium to Iran, Saudi Arabia's foreign minister is reported to have said.
Prince Saud al-Faisal told the Middle East Economic Digest such an offer could defuse Tehran's stand-off with the West over its nuclear programme.
The prince was quoted as proposing "a consortium for all users of enriched uranium in the Middle East".
The BBC's Paul Reynolds says it is doubtful the offer will go anywhere.
It is similar to one proposed by Russia in December 2005, which led to initially positive talks between Moscow and Tehran, but in the end led nowhere, says our world affairs correspondent.
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