Gulf monarchies offer financial deal to end Strait of Hormuz blockage
Gulf states have proposed a financial package to Iran to unblock the Strait of Hormuz, while political friction continues in Rome over EU defense funding.
Oman has submitted a collective proposal from Gulf nations offering Iran a financial contribution to resolve the ongoing blockage of the Strait of Hormuz, which has caused estimated damages of up to $90 billion. Mediators designed the proposed payment to avoid being categorized as a transit tariff, seeking to prevent legal precedents and avoid friction with Washington.
Concurrently, political tension remains within Italy's governing coalition regarding military funding. Following Foreign Minister Antonio Tajani’s announcement of plans to access €14.9 billion from the European Union’s Safe defense credit line, coalition partners from Lega and Brothers of Italy emphasized that any final military procurement decisions require explicit parliamentary approval.
Sources: Corriere della Sera, Il Messaggero.
How outlets assessed this
- Jul 29, 2026, 02:00 AM UTC
- Il Messaggero Critical Framed Tajani's defense funding announcement as an immediate coalition short circuit that renewed political friction over rearmament.
- Corriere della Sera Neutral Focused on procedural conditions set by coalition partners who insisted that Parliament retain final authority over military spending.
Sources
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