Donald Trump claims the US military decimated Iran's Navy and Air Force, hinting at regime change while Iran accuses the US and Israel of planning a ground invasion.
He also warned the Gulf countries, which are allowing the US to launch an attack from their soil, vowing to "punish" the regional partners.
His remarks come after Trump warned Iran of severe consequences if it fails to reopen the strategically vital Strait of Hormuz, a key global energy transit route.
Iran has placed anti-personnel and anti-armour mines around the island, where US troops could potentially stage an amphibious landing.
US President Donald Trump on Wednesday (local time) claimed that Iran has asked US for a ceasefire. He said that Washington would consider it once the Strait of Hormuz is open.
"The US President's statements are within the framework of efforts to reduce energy prices and gain time to implement his military plans," the ministry stated.
Trump claimed on social media that recent US-Iran discussions were 'very good and productive' and aimed at a 'complete and total resolution' of the conflict.
Amidst rising tensions, Iran threatens to close the Strait of Hormuz to those not adhering to its new regulations, signaling a potential escalation in the region's geopolitical landscape and raising concerns about global oil supply routes.
The West Asia conflict escalated sharply as Iran launched missiles towards Israel, while Tehran confirmed the killing of its intelligence minister in Israeli strikes, marking the third assassination of a senior Iranian official in two days.
Congress leader Shashi Tharoor is urging the Indian government to take a more proactive role in mediating the escalating conflict between the US-Israel alliance and Iran, emphasising the impact on India's energy security and regional stability.
The diplomatic intervention follows various media reports which attributed comments to Iranian lawmaker Alaeddin Boroujerdi, suggesting that merchant vessels were being charged USD 2 million for safe passage through the "conflict-hit Hormuz."
'Much will depend on the position of the United States.' 'It will have to be seen to what extent the US will be more interested in achieving some form of a deal and to what extent Israel will be allowed to continue to carry out both airstrikes and the killing of Iranian officials.'
The assassination of Ali Larijani, Iran's top security official, in an alleged Israeli strike has sent shockwaves through the region, prompting vows of revenge and raising concerns about escalating tensions.
Mojtaba Khamenei, 56, has been chosen to assume control of the country.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
'To suddenly give the impression of taking a position that is hostile to Iran, or, at least, not friendly to Iran, is not a good thing.'
Israel initiated military action against Iran shortly after Prime Minister Narendra Modi's visit, capitalising on a fleeting opportunity and years of strategic preparation, according to Israel's ambassador to India.
'Strikes into the Gulf countries are proof that the security guarantees offered by the US are ineffective and that the Gulf countries cannot rely on American security assurances for their safety.'
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
24 Indian-flagged vessels with 677 Indian seafarers were currently located west of the Strait of Hormuz, and four vessels with 101 Indian seafarers were stationed east of the strategic waterway.
It is for the first time that a senior minister has said that Iran requested permission for docking three of its ships in Indian ports.
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.
The deployment could include infantry and armoured units, in addition to the 82nd Airborne Division, which is already stationed in the region.
'What we have yet to see on either the US or the Iranian side is willingness to compromise on their ultimate demands and the flexibility to reach an agreement to end the war.
'Was the five-day pause ever meant to hold, or was it simply another instrument of signaling, of positioning, of buying time in a war where even the pauses are tactical?' asks Prem Panicker in his must read daily blog on the Gulf War.
The Indian government has convened an all-party meeting to discuss the ongoing crisis in West Asia, following Prime Minister Modi's address to Parliament on the situation and its potential impact on India.
'India's ties with Israel have to do with defence and general technology.' 'The war changes nothing in what India and Israel hope to get from the relationship.' 'It's not as though India will get significantly more benefits from Iran if India abandons Israel at this time.'
Australian police helped two more members of the Iranian women's football delegation slip their minders to claim asylum, but one has changed her mind and decided to go back to Iran.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
He added that opposition parties were assured that their concerns regarding the impact of the West Asia situation on India and the safety of Indian citizens were addressed in detail.
Baghaei also alleged that recent unrest in Iran was fuelled by foreign interference, claiming riots were triggered by "very evident" interventionist remarks by US and Israeli officials.
Popularly known as 'Little India', Dimona has a large Indian-Jewish population, and the community members, mostly from the state of Maharashtra, maintain strong links with India and have consistently put efforts to solidify them.
When missiles fly in this region, they are never just aimed at military targets.
Congress leader Rahul Gandhi has called on Prime Minister Narendra Modi to address the escalating conflict between the US, Israel, and Iran, particularly regarding the alleged assassination of the Iranian Supreme Leader. Gandhi emphasised the need for India to uphold international law and advocate for peaceful resolution.
Israel has for more than two decades and several US presidencies worked to draw the United States into a full-scale war with Iran. Having finally achieved that, the last thing it wants is Trump declaring victory and going home, as he is prone to do. Ali Larijani was the figure most capable of handing Trump a negotiated exit with something to show for it. Without Larijani, the road to an exit gets considerably narrower. Prem Panicker continues his must read daily blog on the Gulf War.
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
Amid escalating tensions with Iran, President Trump is urging nations dependent on Middle Eastern oil to deploy warships to the Strait of Hormuz to safeguard critical global energy supplies.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's foreign policy and his remarks referencing the COVID-19 pandemic in relation to the West Asia situation.
Rahul Gandhi accuses the government of compromising India's energy security by allowing the US to dictate oil supply relationships, raising concerns about the impact of global conflicts on India's energy access.
The Indian government has addressed Parliament regarding a case of an Indian national seeking repatriation from Russia due to the situation in West Asia and the Gulf region. The government also responded to queries about Indian nationals denied entry to South Korea and seafarers detained in foreign countries.