The White House confirmed that Project Freedom — the operation to guide stranded ships through the Strait of Hormuz — has been halted after Saudi Arabia suspended US military access to its bases and airspace. According to reports cited by NBC News, the Kingdom notified the United States that it would not allow American aircraft to operate from Prince Sultan Air Base southeast of Riyadh or fly through Saudi airspace to support the mission . The stunning reversal came just 36 hours after President Trump announced the operation on his Truth Social platform. Why Did Saudi Arabia Block US Military Access for Project Freedom? Saudi leadership was reportedly "surprised and angered" by Trump's public announcement of Project Freedom, which was made without sufficient prior coordination . A Saudi official told that "the problem with that premise is that things are happening quickly in real time" . The Kingdom viewed the unilateral announcement as a breac...
The ongoing US-Israel war with Iran, now entering its third month, has delivered a severe economic shock to the Gulf economies , with the Iran conflict long-term impact expected to reshape the region for years to come. The situation remains fluid but increasingly dire for energy-dependent nations. Why Are Gulf Economies Facing Recession Due to the Iran Conflict? Oxford Economics has downgraded aggregate GCC real GDP growth for 2026 by 4.6 percentage points from its pre-war forecast to -0.2% . The downgrade reflects reduced oil production, exports, tourism, and domestic demand across the region. Several Gulf economies are now officially forecast to enter recession in the first half of this year. Gulf economies face long-term hit from Iran conflict https://t.co/k8kNeNAOD3 — BBC News (World) (@BBCWorld) May 6, 2026 How Does the Strait of Hormuz Closure Affect GCC Oil Exports? The effective closure of the Strait of Hormuz—through which approximately 20% of glo...