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.
United States President Donald Trump has welcomed the declaration from Tehran regarding the restoration of maritime access through the Strait of Hormuz.
Iran has reportedly allowed select "friendly nations" including India and Pakistan limited access to the Strait of Hormuz amid ongoing conflict, easing some energy supply concerns. Here's what the move means for global trade and oil routes.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
Tensions escalated dramatically on March 5, 2026, as the United States and Israel launched coordinated strikes on Iran, triggering retaliatory explosions across Tehran, Sanandaj, and beyond.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
Silver prices surged by Rs 11,800 to Rs 2.57 lakh per kg and gold advanced by Rs 3,000 to Rs 1.58 lakh per 10 grams in the national capital, driven by fresh buying from jewellers and stockists ahead of Akshaya Tritiya.
The IDF said that all of its bases, including air bases, are operating as usual with no harm to their functionality.
Pakistan's Prime Minister Shehbaz Sharif has offered to host talks between the US and Iran to help resolve the ongoing conflict in the Middle East, following reports of Pakistan's involvement in backchannel diplomacy.
Iranian forces fired upon three commercial vessels in the Strait of Hormuz, with one possibly headed for Gujarat, raising concerns about maritime security in the strategic waterway.
Five members of the Iranian women's football team, who initially sought asylum in Australia, have withdrawn their claims and are returning to Iran.
Italy rejects a proposal by Trump envoy Paolo Zampolli to replace Iran at the FIFA World Cup 2026, as officials insist qualification must be earned on merit.
Nobody takes Pakistan seriously and therefore Pakistan's sudden mediating with almost immediate results of a ceasefire seems more contrived than real, points out Vice Admiral Biswajit Dasgupta (retd).
US Central Command (CENTCOM) released footage of a maritime operation where Marines boarded an Iranian-flagged vessel, the Touska, in the Gulf of Oman, leading to heightened tensions and threats of retaliation from Iran.
The Natanz nuclear facility is one of Iran's key nuclear installations and has previously been at the centre of international concerns over Tehran's nuclear programme.
The incident came shortly after a spokesperson from Iran's military warned that Tehran could target ports and docks in the United Arab Emirates following recent United States strikes on Kharg Island, a key hub for Iran's oil exports.
The fragile ceasefire in West Asia between the US and Iran to halt the hostilities in the region for two weeks faces renewed uncertainty as Tehran reportedly moved to block the strategic Strait of Hormuz once again due to Israel's intensified offensive against Hezbollah in Lebanon, according to Iranian state media Islamic Republic News Agency (IRNA), which US President Trump says was "not included" as part of the ceasefire deal.
Trump may strike. He may announce productive talks and extend again. He may do both at the same time. Iran will not open the Strait on someone else's terms, so no matter what happens, that problem will remain unsolved. And the IRGC will still be collecting its $2 million toll from every ship bold enough to ask permission to pass.
Specifically, military experts are assessing if the 'Octopus' interceptor anti-drone system, produced in the UK to support Ukraine in countering Russian threats, could be repurposed to strengthen British protections against Iran's Shahed drones.
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.
'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.'
Indian equity benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global market rally and a drop in crude oil prices below USD 100 per barrel, driven by renewed hopes of diplomatic engagement between the US and Iran.
US President Donald Trump has stated that the war with Iran is "close to over," while the US Central Command reports blocking traffic to Iranian ports.
The two leaders also emphasised the importance of ensuring safe and free navigation through the Strait of Hormuz, the Ministry of External Affairs (MEA) said.
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.
16 days into the war, US forces were already running out of ground-attack missiles and Israel is about to expend its entire Arrow interceptor missiles by end March. To be sure, the Iranians are watching closely and that explains their defiant stance that 'Iran will end the war when it decides to do so and when its conditions are met', notes Ambassador M K Bhadrakumar.
The UN Security Council will vote on a Bahrain-proposed resolution regarding the Strait of Hormuz, aiming to ensure freedom of navigation amid concerns and opposition from some members.
The US-Israeli military campaign, dubbed "Operation Epic Fury" by Washington, has entered its third day, with US President Donald Trump stating that operations would continue "until all of our objectives are achieved."
United States President Donald Trump on Friday declared that there would be 'no deal with Iran except unconditional surrender' amid the escalating West Asia conflict, asserting that Tehran must capitulate before any diplomatic negotiations can proceed.
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).
Crude oil prices experienced a sharp decline after US President Donald Trump announced a temporary halt to military strikes on Iran's energy infrastructure, easing geopolitical tensions and supply disruption fears.
Despite heightened tensions and Iran's rejection of a US-backed ceasefire, President Trump claims Iran is now 'begging' for a deal.
He also criticised the possible succession of the son of the late supreme leader of the Islamic Republic, Mojtaba Khamenei, who is widely viewed as a leading contender for the position.
Chinese foreign ministry spokesperson Mao Ning said that the country believes that dialogue and negotiation are the only viable solutions to resolving disputes and that the continued escalation of the conflict serves no one's interests.
This threat comes as the assembly of experts in Iran has reportedly reached a majority consensus regarding the successor to the late Supreme Leader Ayatollah Ali Khamenei, according to the Tehran-based Mehr News Agency (MNA).
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
Israeli Prime Minister Benjamin Netanyahu on Thursday called for the opening of direct negotiations with Lebanon, as tensions persist along the border despite a two-week ceasefire aimed at halting hostilities in West Asia.
Former Central Command chief David H Petraeus suggests the US and Iran are likely to extend their ceasefire beyond the initial two-week period, citing willingness from both sides to continue negotiations.
Ahead of the expiry on Tuesday of the two-week ceasefire declared by US President Donald Trump in the conflict with Iran, US media outlets reported on Sunday that negotiators Steve Witkoff, special envoy for peace missions and Jared Kushner will head to Islamabad for talks with Iran.
