Iran has asserted that maritime movement through the Strait of Hormuz will be strictly controlled by Tehran, stating that passage will be allowed only through designated routes and under Iranian approval.
India summoned the Iranian envoy after two Indian vessels had to reverse course in the Strait of Hormuz following an incident of firing by Iran's Revolutionary Guards.
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
External Affairs Minister S Jaishankar has emphasised India's commitment to safe maritime transit and condemned attacks on merchant shipping amidst the ongoing West Asia conflict and global energy market disruptions.
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.
Is the current rally telegraphing a durable peace plan in West Asia, boosted by United States (US) President Donald Trump's incoherent and contradictory posts on social media?
Chinese President Xi Jinping has called for the Strait of Hormuz to remain open for normal passage of ships, describing it as an 'international waterway' amid rising tensions between the US and Iran.
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
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.
US President Donald Trump on Thursday said that he has directed the country's Navy to take decisive action against any vessels attempting to lay mines in the strategically vital Strait of Hormuz amid escalating tension over the virtual control of the waterway between Tehran and Washington.
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.
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.
Karex, the Malaysian company that makes roughly one in five of the world's condoms -- about five billion a year, supplying Durex and Trojan among others -- announced this week that it is raising prices by up to 30 percent. The reason is the Strait of Hormuz.
An Indian-flagged LPG vessel successfully transited the Strait of Hormuz, reducing the number of Indian ships stranded in the Persian Gulf. India is in talks with Iran to ensure safe passage for its tankers, and Indian refiners continue to purchase crude oil and LPG from Iran despite regional tensions.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
The vessels are carrying around 92,600 metric tonnes of LPG and have 33 and 27 Indian seafarers onboard, respectively. Visuals showed Pine Gas crossing the critical chokepoint.
Trump's remarks marks one of the most direct rebukes yet from Washington to its allies over their refusal to support US-led military operations in Iran and over the energy crisis triggered by disruptions in the Persian Gulf.
'Historically, India has depended on the Middle Eastern Gulf for nearly 90 per cent of its LPG imports. Shifting to alternative suppliers is not something that can happen quickly.'
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
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.
IRGC said vessels seeking to sail through the strategically critical Strait of Hormuz must obtain Iran's approval; otherwise, they could become targets of Iranian attacks.
The report said ships must submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a designated corridor.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
The Indian government has refuted reports suggesting a deal with Iran involving the release of seized oil tankers in exchange for safe passage of Indian vessels through the Strait of Hormuz.
The clock on the ceasefire is running out. But everyone's already whispering about round two, possibly as soon as this weekend.
India's trade with West Asia saw a significant decline of over 28% in April, marking the second consecutive month of contraction. This downturn is attributed to severe shipping disruptions stemming from the ongoing conflict involving the US, Israel, and Iran, particularly impacting the crucial Strait of Hormuz waterway.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
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.
When missiles fly in this region, they are never just aimed at military targets.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
The escalating conflict in West Asia has resulted in 19 ships carrying essential energy resources for India being stranded in the Strait of Hormuz, raising concerns about potential disruptions to the country's energy supply.
18 Indian-flagged vessels with 485 Indian seafarers still remain in the western Persian Gulf region
Two more Indian-flagged LPG tankers have safely navigated the Strait of Hormuz, ensuring continued cooking gas supply to India amidst regional conflict. These tankers are expected to reach Indian shores soon, following the successful transit of previous vessels.
The government has introduced a mandatory 25-day gap between LPG cylinder bookings due to supply concerns arising from global disruptions and tensions in the Strait of Hormuz. This measure aims to prevent hoarding and prioritise essential non-domestic sectors, while domestic LPG production is being increased to mitigate shortages.
Crude oil prices are projected to fall significantly this year, driven by hopes of a peace deal between the US and Iran, which could lead to the reopening of the Strait of Hormuz, and a notable drop in Chinese demand for seaborne crude imports.
Fathali further stated that Tehran has instructed its embassy in India to facilitate the Indian government, ensuring smooth operations amid the ongoing regional conflict.
A top Iranian official has blamed the US and Israel for the disruption of global supply chains due to the West Asia conflict, stating that Tehran is not happy about the consequences faced by countries like India.
Much will depend on how the protagonists use the current interlude to work proactively for the beginning of a durable settlement or, on the contrary, prepare for a new round of escalation, points out Ambassador M K Bhadrakumar.
A recently finalised peace deal between the US and Iran, set to be signed on June 19, is expected to significantly benefit India's economy by boosting exports to West Asia, stabilising the rupee, and easing inflationary pressures, according to exporters and experts.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
