The United States has announced it will not renew sanctions exemptions for the purchase of Russian and Iranian oil, ending a 30-day waiver that allowed some countries, including India, to continue importing Russian oil despite sanctions related to the Ukraine war.
Spokesperson of the Ministry of Foreign Affairs of China, Lin Jian, said on Wednesday that China supports Iran in maintaining its stability, adding that Beijing has always opposed the interference in other countries' internal affairs and the use of force in international relations.
United States President Donald Trump has welcomed the declaration from Tehran regarding the restoration of maritime access through the Strait of Hormuz.
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
Indian stock markets are poised for volatility this week, driven primarily by the outcomes of five state assembly elections, ongoing high crude oil prices amid West Asia tensions, and the release of Q4 corporate earnings, according to market analysts.
US President Donald Trump and Chinese President Xi Jinping began a crucial two-day summit in Beijing on Thursday, with both leaders signalling a desire to stabilise relations between the world's two biggest economies despite deep disagreements on trade, Taiwan, technology and security issues.
US-Iran talks in Islamabad collapsed after 21 hours, exposing deep divisions over nuclear ambitions and sanctions.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
US President Donald Trump has claimed that China has committed to halting weapon supplies to Iran, following his personal diplomatic interventions with Chinese President Xi Jinping.
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
An Iranian tanker successfully bypassed the US Navy to deliver crude oil to the Asia-Pacific region, despite ongoing tensions and a US blockade.
The Indian rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar, driven by retreating crude oil prices, signs of easing geopolitical friction, and likely central bank intervention.
Qatar has halted liquefied natural gas (LNG) production after its facilities came under attack amid the ongoing West Asia conflict, disrupting supplies to India and squeezing feedstock availability for key domestic sectors.
Iran has rejected United States allegations that it is preparing attacks on American facilities, alleging that Washington, DC is attempting to escalate tensions in West Asia, Iranian state broadcaster Press TV reported.
The 2026 Asian Senior Weightlifting Championships, featuring athletes from 30 countries, will be held in Gandhinagar from May 11 to 17. The event serves as a qualifier for the 2026 Commonwealth Games.
Indian stock markets are set to be influenced by ongoing developments in the US-Iran conflict, fluctuations in crude oil prices, and the latest quarterly earnings reports from major corporates, with foreign investor activity also playing a crucial role.
Donald Trump has escalated his public feud with Pope Leo XIV, criticising the Pontiff's stance on Iran's nuclear ambitions and domestic issues, while the Pope maintains his focus on spiritual advocacy and global peace.
Over the past two decades, India has witnessed several major petrol price hikes, driven by global crude oil fluctuations, economic crises, currency depreciation and geopolitical conflicts. How did we get from Rs 34 to over Rs 100 today
US Central Command (CENTCOM) released footage of a maritime operation where Marines boarded an Iranian-flagged vessel, the Touska, in the Gulf of Oman, leading to heightened tensions and threats of retaliation from Iran.
India will continue to purchase Russian oil based on commercial viability and energy security needs, irrespective of US sanctions waivers, according to a senior petroleum ministry official.
Indian benchmark indices, Sensex and Nifty, closed marginally higher after a volatile trading session, driven by value buying in IT and select blue-chip counters, despite global crude price hikes and a weak rupee.
Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
National Security Advisor Ajit Doval met UAE President Mohamed bin Zayed Al Nahyan to discuss deepening strategic partnerships and the regional situation, following meetings with Saudi Arabian leaders earlier in April.
According to a report in the New York Times, United States President Donald Trump has been briefed in recent days on a range of military options targeting Iran.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
India has strongly advised its nationals to avoid travelling to Iran due to the deteriorating security situation and widespread anti-government protests.
Earlier in the day, the ministry of external affairs "strongly advised" Indians to avoid travel to Iran until further notice, amid rising tensions and protests in the Islamic Republic.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
The operation reportedly extended to American assets, with the IRGC claiming that "US military bases in the region, namely Ali al-Salem in Kuwait, as well as al-Minhad and al-Dhafra in the United Arab Emirates, were also targeted."
India's football faces a setback as it receives only one play-off slot for the 2027-28 AFC Challenge League, the third tier of Asia's club structure, due to administrative issues and declining performance.
The International Cricket Council (ICC) is developing alternate flight plans for players and officials returning from the T20 World Cup following US strikes on Iran.
Netanyahu asserts that Israel can play a role in helping Iranians achieve political change and cast off tyranny, while acknowledging that the ultimate decision lies with the Iranian people.
Delhi must now purge the delusional hopes of being a 'counterweight' to China in the US calculus, argues Ambassador M K Bhadrakumar.
The ministry of external affairs on Monday said that a joint statement could not be issued following the BRICS deputy foreign ministers and special envoys on the Middle East and North Africa (MENA) meeting, which took place on April 24 in the national capital, as member countries were unable to reach a general consensus concerning the conflict in West Asia.
Donald Trump agreed with Xi Jinping's assessment of the US as a 'declining nation,' but attributed the decline to the policies of the Biden administration.
Indian benchmark indices Sensex and Nifty experienced a decline due to renewed geopolitical concerns in the Strait of Hormuz, a strained US-Iran ceasefire, and the rupee hitting a record low against the US dollar.
Dabur India's stock has fallen over 17 per cent since the start of the Iran war, driven by concerns over a weak monsoon, the West Asian crisis, and rising input costs, which are expected to impact the company's revenues and margins, particularly affecting its significant rural sales and international markets.
Iran has formally appealed to the United Nations Security Council and the UN Secretary-General, accusing the United States of inciting violence, interfering in Iran's internal affairs, and threatening military action, according to an official letter circulated by Iran's Permanent Mission to the UN.
