Refinitiv — Gulf sources say Oman has offered Iran a proposal to set up a joint regional mechanism to manage the Strait of Hormuz, financed by voluntary contributions from strait users. Modeled on the Malacca Strait system, the plan would allocate user fees to navigation safety, environmental protection and search-and-rescue operations. The proposal has regional backing and would not leave Iran as sole controller of the strait.

The Pentagon told lawmakers in May that $400 mln in Congress‑authorised aid for Ukraine will be paid on a multi‑year schedule, with obligations beginning in FY2026 and full delivery not expected until the fiscal year ending Sept. 30, 2029, a person familiar with the matter said. Two months after the letter the funds remain unobligated and uncontracted, drawing criticism from Democrats and some Republicans. Sources said lawmakers are frustrated at the slow pace as Ukraine faces weapons shortfalls amid ongoing Russian missile strikes. Ukrainian President Volodymyr Zelenskiy is expected to meet President Trump on Tuesday to press for air‑defence capabilities and finalise a US drone agreement, then to meet the full Senate.

Reserve Bank of Australia Governor Bullock said the board would face some tough decisions if it judged inflation would not fall.