Tensions escalate between Iran and the US following an attack on an Iranian commercial vessel in the Sea of Oman, with both sides trading accusations over maritime security and ceasefire violations.
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
India has expressed serious concerns about the West Asia crisis and its potential impact on energy supplies and maritime stability, urging BRICS nations to find practical solutions to geopolitical challenges and unilateral sanctions.
The United States has announced new sanctions targeting Iran's 'shadow oil economy,' accusing Tehran of using illicit oil revenues to fund the Islamic Revolutionary Guard Corps (IRGC) and its regional activities.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
US President Donald Trump is reportedly considering military action against Iran due to stalled negotiations and Tehran's approach to its nuclear issue, according to CNN sources. Divisions within the Trump administration have emerged over the next course of action, with some officials advocating for a more aggressive approach through targeted military strikes.
The United States and Iran could resume negotiations as early as next week in Islamabad, according to a report by The Wall Street Journal citing people familiar with the matter.
Prem Panicker's Must Read Blog On The Gulf War.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
The Beijing summit may have reduced immediate diplomatic uncertainty, but it did not resolve the deeper structural contest between the United States and China. That contest appears likely to define the coming decade, notes Varun Arya.
Frankly, was it really necessary in the middle of a fratricidal war for External Affairs Minister S Jaishankar to travel to Abu Dhabi for a one-on-one with the sheikh on April 12?Or, for National Security Advisor Ajit Doval to follow up on April 26? Or, for PM Narendra Modi to follow through today? There are no easy answers, notes Ambassador M K Bhadrakumar.
US Marines boarded and searched a commercial ship, M/V Blue Star III, in the Arabian Sea on suspicion of violating the US blockade of Iranian ports, later releasing it after confirming it was not headed to Iran.
US President Donald Trump in an exclusive interview to Axios on Wednesday, said that he would continue to keep the naval blockade until Iran agrees to deal with the United States by addressing America's concerns about the nuclear programme.
Indian refiners are recalibrating their crude sourcing strategy due to supply disruptions in West Asia, leading to Venezuela and Brazil emerging as top five suppliers in April, replacing traditional sources like Iraq and the United States.
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.
Indian equity markets, including the Sensex and Nifty, experienced a significant downturn for the second consecutive day, driven by escalating geopolitical tensions in West Asia and persistent foreign fund outflows.
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.
Moody's Ratings has reduced India's GDP growth forecast for 2026 to 6 per cent, citing subdued private consumption, capital formation, and industrial activity due to higher energy costs and global uncertainties.
US President Donald Trump received a red carpet welcome in Beijing for talks with Chinese President Xi Jinping on trade, the Iran war, and other key issues. The visit underscores the importance both nations place on their relationship amid ongoing tensions.
Iran has announced the Strait of Hormuz is open to commercial vessels, coinciding with a ceasefire between Lebanon and Israel.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
Iran has lodged a formal complaint with the United Nations, accusing the US of engaging in 'piracy' following the seizure of Iranian vessels. The complaint was detailed in a letter sent by Iran's UN envoy to the UN Secretary-General and the Security Council.
In a lengthy post on Truth Social, Trump said negotiations with Iran were 'proceeding nicely' and argued that several Muslim and Arab nations should formally recognise Israel and join the Abraham Accords once a deal is reached.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
US President Donald Trump has announced plans to clear the Strait of Hormuz to secure the vital oil corridor, citing risks to global energy supplies and criticising other nations' inaction.
Congress leader Rahul Gandhi on Monday launched a scathing attack on Prime Minister Narendra Modi over the latest fuel hike, saying mehangai manav has struck again and he has just one job of making promises during elections and attacking people's pockets at other times.
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.
The Sri Lankan government attributes the sharp depreciation of the rupee against the US dollar to the ongoing conflict in West Asia, citing increased costs for essential imports like gas, fertiliser, and oil.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
Prime Minister Narendra Modi has offered India's support to bring peace to West Asia during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Both countries signed agreements to strengthen strategic collaborations in energy and defence.
The escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
Dozens of US planes carrying ammunition landed in Tel Aviv, raising concerns about potential strikes on Iran. Negotiations between the US and Iran remain deadlocked over key issues, with both sides issuing fresh demands and warnings.
US Secretary of State Marco Rubio has said that the US is ready to sell as much energy as India is willing to buy. He described India as a 'great partner' ahead of his visit to New Delhi.
In a significant diplomatic manoeuvre aimed at de-escalating regional tensions, Iran has reportedly submitted a "new proposal" to the United States through Pakistani intermediaries.
Small- and midcap stocks have delivered their biggest monthly rally in 12 years, but rising oil prices and global tensions could make the road ahead volatile.
Former US President Donald Trump has criticised Iran's stance on the Strait of Hormuz, calling it a form of 'extortion' amid ongoing negotiations for a peace deal. The remarks come as Iran considers imposing transit fees on vessels crossing the strategic waterway.
An India-flagged vessel carrying 15,400 tonnes of liquefied petroleum gas (LPG) successfully crossed the Strait of Hormuz and arrived at Jawaharlal Nehru Port Authority (JNPA), demonstrating the resilience of maritime operations amid geopolitical tensions in West Asia.
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.
Donald Trump has dismissed the ceasefire with Iran as being on 'massive life support', signalling continued tensions between the US and Iran amid ongoing negotiations.
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