She most thankfully taketh this his stay, by you signified, of renewing the truce

"On 24 June 1587 Walsingham congratulated Harborne on ‘how carefully and discreetly you have proceeded in your negotiations with the sultan and his counsellors’. He also told him that the queen was delighted with his success in preventing the peace treaty, and that: her pleasure is that you let the Grand Signor understand that: "she most thankfully taketh this his stay, by you signified, of renewing the truce desired by the King of Spain which you shall in her name not only persuade him to continue but also show unto him how necessary it is for him to attempt somewhat presently for the impeachment of the said Spaniard’s greatness, much more in truth to be doubted than of Persia, against whom his forces seem to be altogether bent, and may be performed by setting such princes are in Barbary at his devotion upon the King of Spain, furnishing them for the purpose with some number of galleys, which with small cost shall give him great annoyance, whereunto her majesty’s hand will not be wanting.'"

I couldn't figure the emphasized sentence out. Can you parse and paraphrase generally it?

The source: The Sultan and the Queen: The Untold Story of Elizabeth and Islam by Jerry Brotton