The US rejected Iran's proposal to reopen the Strait of Hormuz, citing Tehran's demands for sanctions relief and access to frozen assets before nuclear program negotiations. US Ambassador Mike Waltz called the offer a "cynical attempt," while Iranian Foreign Minister Seyyed Abbas Araghchi disputed Waltz's account and reiterated Iran's readiness for both diplomacy and renewed hostilities. President Trump expressed confidence in winning the conflict soon and keeping all options, including military strikes, on the table, with denying Iran a nuclear weapon as the primary objective.
The Israeli Finance Ministry has warned that the ongoing war with Iran could cost Israel an estimated NIS 9.4 billion (USD 3 billion approximately) per week under current restrictions on economic activities.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
Pakistan has significantly increased the price of high-octane fuel, impacting luxury vehicle owners, while also seeing increases in petrol, diesel, and airline fares due to rising global oil prices.
Economist Jeffrey Sachs saw Gulf nations' decision to partner with the US through the Abraham Accords as an "invitation for disaster" as it made them more dependent on American protection.
The United States military has developed fresh strike options against Iran that include the potential use of the GBU-43/B Massive Ordnance Air Blast (MOAB), widely known as the "mother of all bombs", to target energy infrastructure and nuclear sites, CNN reported, citing multiple US officials familiar with military planning discussions.
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.
US President Donald Trump stated he would not set a deadline for ending the conflict with Iran, claiming Iran's military capabilities have been severely weakened. He also said he would not use nuclear weapons and maintained the US has complete control over blockade measures against Iran.
Iran's women's kabaddi team faced immense challenges during their Asian Games preparations, including frequent camp changes due to regional conflict, psychological stress on young players, and difficulties arranging international friendly matches due to sanctions.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu had a tense phone call over the future course of the war on Iran, with Washington favouring a deal instead of resuming strikes, according to US media reports.
US President Donald Trump asserted that Iran is attempting to remove him from office, believing a Democratic administration would permit them to develop nuclear weapons. Trump vowed to prevent Iran from acquiring nuclear capabilities and stated he has no regrets about his confrontational approach, claiming he would act the same way again. He also linked the ongoing conflict to rising stock markets and oil prices, and controversially suggested renaming the Strait of Hormuz.
US President Donald Trump has defended a controversial diesel deal with Russia, stating it aims to stabilise the global market despite bipartisan criticism from US lawmakers. The deal, which eases sanctions on Russian diesel shipments until April 2027, has been criticised as a "gift to our adversary" that finances Russia's war efforts and offers little relief to Americans.
Iranian President Masoud Pezeshkian delivered a strong address at the UN General Assembly, rejecting US allegations against Iran and accusing Washington and Israel of aggression and terrorism. He criticised US sanctions, defended Iran's peaceful nuclear programme, and highlighted the Palestinian issue.
United States special envoy Steve Witkoff engaged in high-stakes talks with Russian President Vladimir Putin on Wednesday in St. Petersburg. The aim of the meeting was to advance proposals to end the war in Ukraine and establish a pathway towards broader negotiations.
US Vice-President J D Vance's unexpected phone call to Prime Minister Narendra Modi on August 8 has ignited speculation about a potential diplomatic overture, possibly seeking India's support amidst the escalating US-Iran conflict and a shifting global power landscape, suggests Ambassador M K Bhadrakumar.
The US announced a 60-day pause on sanctions against Russia and tariffs on other countries, including India, to analyse the global economic impact. This decision, made via an executive order by Trump, has drawn significant criticism from both Republicans and Democrats, who had previously passed the Lindsey O. Graham Sanctioning Russia and Iran Act. US officials stated the waiver allows for assessment of global energy pressures and European allies' refusal to impose secondary sanctions on Russian oil buyers.
Donald Trump claims a senior defence official urged military action against Iran, revealing escalating tensions and ongoing negotiations in the Middle East.
Analysts are revising down India Inc's financial year 2026-27 (FY27) earnings growth forecasts, citing persistently high crude oil prices above $100 a barrel due to the West Asia conflict, which is expected to dent corporate financial performance in the coming quarters.
'Mojtaba Khamenei supervised the most recent repression in December 2025 and January 2026 which remains ongoing.'
US President Donald Trump has issued a waiver from sanctions under the Sanctioning Russia and Iran Act, citing national interest. This move comes after a deal with Russia for diesel supply and ahead of a US official's visit to India, where concerns about the act's impact on India's oil imports were raised.
Iran's star striker Sardar Azmoun has been recalled to the national football team, four months after his controversial omission from the World Cup roster. His return follows a social media post that reportedly angered Iranian authorities. Azmoun expressed his joy and readiness to fight for his country as Iran prepares for the Asian Cup.
Donald Trump defends the recent surge in global oil prices, arguing it's a necessary short-term cost to eliminate Iran's nuclear threat and ensure global security.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
Two members of Iran's delegation to the United Nations General Assembly in New York were "kicked out" of the United States on Saturday after allegedly failing to comply with a US State Department order to leave the country, Axios reported, citing a US official, as tensions between Washington and Tehran continue to rise amid the West Asia crisis, particularly the Strait of Hormuz.
Donald Trump has asserted his deservingness for the Nobel Peace Prize, claiming he has settled eight wars and achieved unprecedented peacemaking efforts, while also criticising former President Barack Obama's past win.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
The Indian rupee experienced its sharpest single-day decline in eight weeks, settling at 94.83 per dollar, primarily due to escalating crude oil prices and persistent risk-off sentiment driven by heightened geopolitical tensions and limited foreign inflows.
Prem Panicker's Must Read Blog On The Gulf War.
US President Donald Trump has shared a map on Truth Social showing the Strait of Hormuz labelled as "Trump Strait".
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
Prime Minister Narendra Modi met Iranian President Masoud Pezeshkian at the SCO summit, advocating for dialogue and diplomacy to resolve the West Asia conflict and expressing India's desire to expand and diversify trade with Iran. Pezeshkian, in turn, urged India to leverage its contacts to promote peace.
Iran's Islamic Revolutionary Guard Corps (IRGC) claims to have captured a US unmanned submersible near the Strait of Hormuz and launched ballistic missile strikes against a US airbase in Jordan and two US Navy destroyers. These actions are stated as retaliation for recent US attacks on Iranian oil tankers. The US Central Command (CENTCOM) had previously reported destroying Iranian crude oil carriers after IRGC missile attacks on US warships. The escalating tensions have led to regional air defence activations and warnings to tanker crews.
A US Air Force colonel, identified by his call sign 'Bravo', survived nearly 50 hours behind Iranian lines after his F-15E fighter jet was shot down near Isfahan. Despite severe injuries, he evaded Iranian forces and was eventually rescued in a complex operation involving US military and intelligence personnel, highlighting a daring mission to leave no man behind.
Opposition parties are demanding a full Parliament discussion on the West Asia conflict, criticising the government's silence and calling for a contingency plan to protect India's energy security and citizens.
A question has been raised whether the Mecca Pact will have a negative impact on our doctrine that the Operation Sindoor has only been suspended and that it would be resumed if Pakistan engages in terrorism in the future. But the Mecca Pact only speaks of aggression, not defence against terrorism, points out Ambassador T P Sreenivasan.
US President Donald Trump announced that a peace deal with Iran, which includes a commitment from Iran to abandon nuclear weapons, is nearly complete and expected to be signed in Europe this weekend. This development follows Trump's decision to call off military strikes against Iran hours after threatening to take control of its oil industry.
Live updates on the US-Israel-Iran war: Trump escalates threats, Iran retaliates, and oil prices surge as the Strait of Hormuz crisis disrupts global markets.
'If the temperature remains very high, which is likely to be the case because of El Nino, it may lead to a shortfall in wheat production.' 'If that happens, we will be in a very, very difficult situation as far as food security is concerned.'
