Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
'Given that the situation is quickly escalating, such attacks will affect the flow of crude in the short term from West Asia' Subhayan Chakraborty and Dhruvaksh Saha report.
'The global situation is not very good.'
Putin made these remarks on Tuesday while speaking at the Plenary session of the 8th Eastern Economic Forum in Vladivostok, a major port city in sanctions-hit Russia's Far East region
India's reaction came after the US Navy, in an unusual move, announced that one of its ships conducted patrols in the Indian EEZ this week, without seeking consent from India.
India on Monday lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran awarded a contract for developing the giant gas field to a local company. "The National Iranian Oil Company (NIOC) has signed a contract worth $1.78 billion with Petropars Group for the development of Farzad B Gas Field in the Persian Gulf," the Iranian oil ministry's official news service Shana reported. "The deal was signed on Monday, May 17, in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh in Tehran." The field holds 23 trillion cubic feet of in-place gas reserves, of which about 60 per cent is recoverable.
The MEA said Indian nationals residing in Iraq are advised to be alert and may avoid travel within Iraq. The DGCA asked airlines to take all precautions in airspace over Iran, Iraq, Gulf of Oman and waters of Persian Gulf.
Intensifying its efforts, the Indian Navy has deployed nine warships to bring liquid oxygen and other medical supplies from several countries in Persian Gulf and south-east Asia as hospitals across India continued to reel under acute shortage of the life-saving gas following a massive surge in COVID-19 cases.
After moving into 10 Downing Street a couple of weeks go, British Prime Minister Rishi Sunak is making his first outing on the world stage.
TROPEX-23 this year witnessed the participation of approximately 70 Indian Navy ships, six submarines and over 75 aircraft.
This Web series is more about wine, opium, sex, more sex, gay love and incest, rues Syed Firdaus Ashraf.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
State Bank of India, the nation's largest lender, has stopped processing transactions of Russian entities that have been sanctioned by the West over Moscow's invasion of Ukraine, sources said. To effect this, SBI has issued a circular as it fears that any transaction with entities or sectors under sanction will invite sanction on it as well, sources said. No transactions involving entities, banks, ports or vessels appearing on a US, European Union or United Nations sanctions list would be processed irrespective of the currency of the transaction, they said. Payments due to such entities have to be processed by other mechanism rather than through the banking channel, sources added.
'Had a very fruitful meeting with Iranian defence minister Brigadier General Amir Hatami in Tehran. We discussed regional security issues including Afghanistan and the issues of bilateral cooperation,' Singh said in a tweet.
Christian Pulisic has had a season to forget for Chelsea but in the blue shirt of his beloved United States he scored the goal that gave them their first win at the 2022 World Cup and a spot in the last-16.
Italy, Greece, South Korea, Taiwan and Turkey also figure in the list released by Pompeo, who said over 20 countries have cut their oil imports from Iran, reducing purchases by more than one million barrels per day.
Besides IOC, ONGC Videsh Ltd has also sought two discovered fields from the 16 fields that Iran is likely to put on auction shortly
Modi held several bilateral and trilateral meetings with world leaders.
Sufyan Shaikh, the first Indian to complete swimming in ten seas takes us through the spectacular moments that defined his life and career.
'India will want a lot of help from the US, but it's not going to want US troops.'
Pakistan and China are disagreeing over whether Prime Minister Yousuf Raza Gilani has given the Chinese a gift, an entire naval base at the mouth of the Persian Gulf.
Western sanctions aimed at crippling Iranian finances by drying up buyers for its crude oil, had last year banned insurance cover to ships carrying Iranian oil.
US sanctions against Iran kick in from November 4, which will block payment routes. Sources said India and Iran are discussing reverting to rupee trade after November 4.
Emphasising its right to act independently to safeguard security interests, Israel has expressed hopes that it may not have to unilaterally carry out an attack against Iran to foil its nuclear ambitions due to an unprecedented concentration of United States forces in the Persian Gulf.
India is busy building up its naval fleet, might add frigates, aircraft carriers, planes, submarines
The United States has said it will share with India transparently the results of its probe into the naval ship shooting incident that killed an Indian fisherman in the United Arab Emirates waters, even as the survivors disputed the Pentagon's claim that they were forewarned.
The Pentagon insisted that the United States naval ship had issued several warning to a fishing boat in the Persian Gulf before it fired shots killing an Indian fisherman and injuring three others.
India has slashed import of crude oil from Iran by over 26.5 per cent in the financial year ended March 31 as US and European sanctions made it difficult to ship oil from the Persian Gulf nation.
US, EU have shut down the use of their financial systems for Iranian crude trade.
The Obama administration is moving ahead with a 'range of steps short of war' that it hopes will forestall an Israeli attack on Iran, while forcing Tehran to take more seriously negotiations that are all but stalemated, a media report on Monday said.
Amid heightened tensions in the Persian Gulf, Britain on Sunday said it would not be "wise" for Israel to launch pre-emptive military strikes on Iran's atomic installations as it would have "enormous downsides."
As tensions mounted in the Persian Gulf, Pakistan on Thursday assured Iran that it will not provide any assistance to American forces in the event of a United States attack on Tehran.
Thirteen Iranians were rescued by a US Navy destroyer on Thursday, more than 40 days after their boat was commandeered by suspected Somali pirates in the northern Arabian Sea.
The inking of the commercial contract to build and run the strategic port will help India win access to Afghanistan, Russia and Europe
After drastically cutting imports from Iran, India is hoping to win waiver from US financial sanctions on its oil trade with Iran so as to continue to getting supplies from the Persian Gulf nation.
More than six months after a Reserve Bank of India order threw out a mechanism to pay for Iranian oil, Oil Minister S Jaipal Reddy on Tuesday said India is trying to ensure uninterrupted supplies of crude from the Persian Gulf nation.
Resisting US pressure to further scale down oil imports from sanction-hit Iran, India on Monday made it clear that it has to look at the issue involved beyond the energy trade as it has "vital" security stakes in the Gulf region.
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