Indian companies, however, are now paying a premium of $6-$7 a barrel for Russian oil, compared with discounts of $8-$10 a barrel before the start of the conflict.
US Vice President J D Vance stated that while progress was made during peace talks in Islamabad, it is now up to Iran to further the discussions and address US concerns regarding its nuclear ambitions.
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.
Speaking to reporters during a cabinet meeting at the White House on Thursday, Trump said the US had engaged in 'very substantial talks' with Iranian officials and described the tanker movement as proof of seriousness in the discussions.
Trump's message, posted on his Truth Social platform, is a reminder of his 10-day ultimatum given to the Islamic Republic earlier to make progress toward a deal or reopen the vital shipping lane.
Elon Musk reportedly participated in a phone call between US President Donald Trump and Indian Prime Minister Narendra Modi to discuss the Iran crisis, raising questions about his involvement in diplomatic discussions.
According to an official Iranian military statement, Qader anti-ship cruise missiles were launched at the carrier, forcing it to alter its position in the region.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.
Iranian foreign ministry spokesperson Esmaeil Baghaei said that the country has held no "direct" talks with the United States as of now and added that it has received messages through some mediators regarding the US' desire for negotiations.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
Ravi Bishnoi believes he has turned a major weakness into his strength after putting on a match-winning display in Saturday's IPL 2026 match against Gujarat Titans.
For years, these two powers operated as "frenemies" in the shadow of Iran's regional influence. The frame here is "The Enemy of My Enemy."
It remains unclear whether United States President Donald Trump or Iranian authorities will pursue the offer.
US Vice President JD Vance is set to arrive in Islamabad on Monday evening to lead a high-level American delegation in a second round of ceasefire negotiations with Iran, CNN reported, citing White House on Sunday.
US President Donald Trump threatened to bomb Iran if a deal is not reached before the ceasefire ends, while Pakistan urged both sides to extend the truce and pursue diplomacy.
Gujarat Titans' stand-in captain Rashid Khan attributed their IPL 2026 loss to Rajasthan Royals to a middle-order collapse and hopes for Shubman Gill's quick recovery.
'Iran cannot trust the USA because it considers the USA to be Israel-controlled. And no, the IRGC is not going to accept anything else but major US concessions.'
Trump emphasised that diplomatic discussions remain ongoing. At the same time, he issued a stark warning, saying that failure to reach an agreement could trigger military action.
India has officially refuted claims that Elon Musk was involved in a recent phone call between Prime Minister Narendra Modi and President Donald Trump.
The decision marks a significant leadership transition as the administration seeks a commander who 'will implement Donald Trump and Hegseth's vision for the Army'.
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.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
He also warned the Gulf countries, which are allowing the US to launch an attack from their soil, vowing to "punish" the regional partners.
Despite President Trump's optimistic prediction of a swift resolution to the ongoing conflict with Iran, Tehran dismisses any possibility of diplomatic breakthroughs, citing deep distrust and highlighting the complexities of US-Iran relations.
Hours after ceasefire, US President Donald Trump on Wednesday warned against any country supplying military weapons to the Islamic Republic, stating that he would impose a 50 percent tariff on all goods exported to the United States.
Pope Leo XIV on Monday underscored his commitment to spiritual advocacy over political friction, stating that he has no desire to engage in a confrontation with the US administration.
Four astronauts from NASA's Artemis II mission have safely returned to Earth after completing a historic flyby of the moon, marking the first human journey to the moon in over 50 years.
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.
US President Donald Trump and Russian President Vladimir Putin discussed the Iran conflict and its impact on global energy supplies during a phone call.
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
'As result, Netanyahu 'convinced' Trump to go to war with the help of overoptimistic Israeli intelligence assessments, essentially explaining to him that they only need to bomb Iran for 3-4 days, and the regime would then collapse.' 'Rather unsurprisingly, Netanyahu is ever since blaming his own intel service for the entire operation failing.'
To be sure, Trump is furious, as the trajectory of the war is in a state of Zugzwang, as chess players call it. Trump and Netanyahu stare at two choices -- retreat in humiliation and concede Tehran's demands -- recognition of its rights, reparations, and binding security guarantees -- or perish in a quagmire, points out Ambassador M K Bhadrakumar.
At least eight civilians have been reported killed, and 95 others have sustained injuries following United States-Israeli strikes, Iranian state media Press TV reported.
The representative of Iran's Supreme Leader in India expressed gratitude towards Indians, calling India a land of 'loyalty and humanity'.
US Secretary of War Pete Hegseth on Wednesday claimed that Tehran "begged" for a truce, maintaining that Washington achieved a "decisive military victory" during 'Operation Epic Fury.'
Pakistan's Foreign Office has refuted media reports suggesting that its efforts to facilitate peace talks between the US and Iran have stalled, calling the reports baseless and speculative.
'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.
Iranian Foreign Minister Seyed Abbas Araghchi has warned the United States that Iran is ready to confront American troops if the US launches a ground invasion, calling such a move a potential 'big disaster' for Washington.
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.
'Portfolios built in these phases often deliver the strongest outcomes over time.'
