The US has informed allies it will avoid new military strikes on Iran, instead focusing on economic sanctions and maritime enforcement, particularly in the Strait of Hormuz. This strategic shift aims to intensify pressure on Tehran's economy and oil exports while keeping the military option open if Iran initiates aggression. Diplomatic efforts continue amidst persistent regional tensions and maritime incidents.
India on Friday launched a highly coordinated, priority operation to safely guide 13 Indian-flagged commercial vessels out of the volatile Strait of Hormuz, the ministry of ports, shipping, and waterways announced on Friday.
India is in communication with Iranian officials to ensure the safety and secure passage of its ships through the Strait of Hormuz, following recent firing incidents involving Indian vessels.
Airtel Africa's mobile payments arm, Airtel Money, has filed for an initial public offering (IPO) on the London Stock Exchange, with the International Finance Corporation (IFC) agreeing to purchase shares worth up to $90 million at the final offer price.
Trump criticised Iran for attempting to use international waterways for leverage, stating that the United States had restrained itself only to allow space for negotiations.
China has criticised the US blockade of the Strait of Hormuz, calling it a dangerous and irresponsible move, and urged Washington and Tehran to honour the ceasefire. Beijing also denied aiding Iran militarily and threatened countermeasures if the US imposes tariffs.
Iranian President Masoud Pezeshkian concluded his visit to India for the 18th BRICS Summit, announcing that Iran and the UAE agreed to move past previous tensions. This diplomatic breakthrough occurred during talks with Abu Dhabi's Crown Prince on the summit sidelines. Pezeshkian also met with PM Modi to discuss bilateral ties and West Asia developments, with Modi emphasising dialogue for regional peace. The BRICS summit adopted the New Delhi Declaration 2026, calling for global governance reforms and de-escalation in West Asia.
The US blockade on Iranian ports is aimed to curb Iranian energy exports, thereby crippling its economy to force Iran back to the negotiating table, points out Commodore Venugopal Menon (retd).
Iran has reimposed restrictions on the Strait of Hormuz, with its forces opening fire on a passing tanker and forcing at least two Indian vessels to reverse course, escalating tensions in the region and raising concerns over energy supplies.
US President Donald Trump is considering ending the military operation against Iran even if the Strait of Hormuz remains closed, according to the Wall Street Journal.
Conflicting reports emerge regarding the effectiveness of the US blockade on Iranian ports, with Iran claiming successful transit of vessels and the US asserting complete maritime dominance.
Indian equities on Dalal Street saw volatility as global market trends and weak rupee impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for May 5, 2026.
The US has threatened to prosecute those buying or selling sanctioned Iranian oil and has announced a blockade of the Strait of Hormuz after peace talks failed.
US President Donald Trump jokingly referred to the Strait of Hormuz as the 'Strait of Trump' while discussing ongoing negotiations with Iran, adding that Iran was under pressure and willing to negotiate.
External Affairs Minister S Jaishankar, addressing the UN General Assembly, condemned the targeting of commercial shipping and seafarers in the Gulf, calling it "simply unacceptable." He also voiced deep concern over the "weaponisation of everything," which he stated has severe consequences for Global South nations, impacting peace, progress, and development globally. India urged restraint, de-escalation, and protection of civilians, while also highlighting the 4F crisis (food, fuel, fertiliser, finance) faced by developing countries.
The US Central Command (CENTCOM) announced the start of operations to clear mines in the Strait of Hormuz, a claim swiftly denied by Iran, leading to increased tensions in the region amidst stalled negotiations between the two countries.
UN Secretary-General Antonio Guterres has expressed deep concern over US President Donald Trump's warning to Iran and appealed for the re-establishment of freedom of navigation in the Strait of Hormuz.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
Russian Foreign Minister Sergei Lavrov will visit Beijing to discuss the West Asia conflict, the Strait of Hormuz blockade, and bilateral relations with Chinese leaders.
The United States launched military action against two Iranian launch systems on Larak Island, prompting Iran to claim retaliation with ballistic missile launches targeting two US air bases in Jordan.
'Neither do the Israelis. The two attacking parties have very little economic interest in Hormuz.'
Despite a ceasefire agreement between Iran and the United States, the Strait of Hormuz remains blocked due to Iran's inability to locate and remove all the mines it laid during the conflict, hindering global oil and gas supplies.
United States and China have agreed that "Iran can't have nuclear weapons," and that the Strait of Hormuz must be opened, according to US President Donald Trump.
Indian benchmark indices, Sensex and Nifty, closed lower on Wednesday, reversing early gains due to profit-taking and weakness in sectors like IT, FMCG, and consumer durables, despite support from lower crude oil prices.
US President Donald Trump has indicated that 'a lot of progress' has been made regarding Iran, suggesting that Tehran has reached out for talks and that developments could become clearer within 48 hours.
Indian benchmark indices Sensex and Nifty saw declines in early trade, influenced by elevated crude oil prices stemming from renewed geopolitical uncertainties, particularly concerns surrounding the Strait of Hormuz. Track Sensex, Nifty on August 11, 2026.
Iran's ambassador to India, Mohammad Fathali, has described India as a "reliable and compassionate" partner while asserting Tehran's territorial authority over the Strait of Hormuz amidst ongoing regional tensions.
French President Emmanuel Macron on Monday announced that France and the United Kingdom will jointly lead a multinational initiative to restore free and secure navigation in the Strait of Hormuz amid uncertainty over the virtual control of the strategic waterway between the US and Iran.
A Marshall Islands-flagged LPG carrier, MT Sarv Shakti, carrying Indian cargo, has safely crossed the Strait of Hormuz on Saturday and is expected to reach Visakhapatnam on May 13, according to official sources.
A senior Russian official has stated that Russia is prepared to supply fertilisers and other agricultural products to countries in the Global South and East, following concerns about the closure of the Strait of Hormuz impacting global fertiliser exports and food security.
Ali Mousavi stated that such cooperation is essential for maintaining stability in the strategic waterway.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
The Indian Consulate in Dubai has confirmed the tragic death of Indian sailor Herambh Karmarkar following an attack on the MV GFS Galaxy cargo vessel off the coast of Oman.
Prime Minister Narendra Modi, addressing the BRICS summit, called for a fundamental shift in global governance, advocating for the replacement of the current 'pyramid of privilege' with a 'platform of partnership' where the Global South becomes a 'rule shaper' rather than a 'rule follower'.
Delhi should keep all its options open in what is essentially a transitional period in the geopolitics of energy rather than remain a gatekeeper serving Trump's 'America First', suggests Ambasssador M K Bhadrakumar.
In a sharp escalation of regional tensions, US President Donald Trump issued a fresh warning to Tehran on Monday, asserting that the American military is prepared to sink any Iranian vessels that approach the newly established naval blockade in the Strait of Hormuz.
Trump also called upon China, France, and Japan, among others, to send ships to the Strait of Hormuz.
India has expressed serious concern over Houthi attacks on Saudi Arabia's civilian infrastructure and economic assets, stating that such actions threaten regional stability and freedom of navigation through the Bab-el-Mandeb strait. External Affairs Minister S Jaishankar discussed the issue with his Saudi counterpart. India also condemned the targeting of commercial shipping after an Indian national went missing following an attack on a Panama-flagged ship off Oman.
Iran has submitted a fresh proposal to regional intermediaries offering to cease its military operations in the Strait of Hormuz, contingent upon a complete cessation of hostilities and the removal of the US blockade on Iranian maritime hubs.
The ongoing US conflict with Iran has cost the Trump administration an estimated $45.1 billion, according to a Pentagon estimate provided to the US Congress on Friday, CNN reported, citing two sources familiar with the matter.
