President Trump asserts the US military has decimated Iran's forces and no longer requires assistance from NATO allies to secure the Strait of Hormuz, despite earlier requests for support.
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 and US President Donald Trump discussed the West Asia crisis and the importance of keeping the Strait of Hormuz open and secure. They also reviewed progress in bilateral ties and anticipated upcoming deals in the energy sector.
Iranian Foreign Minister Seyed Abbas Araghchi spoke with Indian counterpart S Jaishankar to discuss the West Asia crisis, following discussions with Russian President Vladimir Putin.
The US Navy seized an Iranian-flagged cargo ship in the Gulf of Oman, escalating tensions as ceasefire talks face uncertainty. The incident raises concerns about the fragile ceasefire and the ongoing blockade of the Strait of Hormuz.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
External Affairs Minister S Jaishankar has engaged in multiple conversations with his Iranian counterpart to secure safe passage for Indian merchant vessels through the Strait of Hormuz amidst escalating tensions in West Asia.
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.
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.
Defence Minister Rajnath Singh assures India's energy security amidst West Asia tensions, highlighting naval protection of tankers and readiness to counter cross-border terrorism.
India's wholesale price index (WPI) inflation surged to 9.68 per cent in May, up from 8.26 per cent in April, primarily due to significant increases in the prices of fuel and power, manufactured goods, and food items.
The Americans can occupy Bab el Mandeb, claim to have 'solved' the Strait of Hormuz crisis, declare victory that President Trump so desperately needs, points out Colonel Anil A Athale, former head of the history division, ministry of defence.
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
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.
The government will lift restrictions on the sale of petrol and diesel to commercial and industrial consumers from July 1, easing emergency measures imposed to manage fuel supplies.
India's exports reached a six-month high, growing by 18 per cent to USD 45.2 billion in May, driven by electronic goods, petroleum products, engineering items, and pharmaceuticals. However, the trade deficit widened to USD 28.21 billion due to a 10 per cent rise in imports, particularly petroleum products and gold, amidst surging crude oil prices.
Prime Minister Narendra Modi addressed Parliament on the West Asia crisis, advocating for dialogue and diplomacy, ensuring the safety of Indians in the region, and addressing concerns about fuel and food security.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
Top commanders of the Indian Navy will discuss the implications of the West Asia crisis on India's energy security and review operational readiness at a three-day conference.
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.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
Formerly Iran's second-largest oil customer, Indian financial institutions were forced to withhold crude oil payments following the 2018 US sanctions.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
Russian President Vladimir Putin is set to visit China for talks with Chinese leader Xi Jinping, shortly after US President Donald Trump's visit to Beijing. The visit underscores the close strategic ties between China and Russia amid global tensions.
Indian benchmark indices Sensex and Nifty experienced volatility due to conflicting developments in West Asia, including reports of the Strait of Hormuz closure, which led to a rebound in crude oil prices and heightened investor concerns about supply disruptions and inflation.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
Iran's representative in India, Abdul Majeed Hakeem Ilahi, describes the ongoing tensions between Iran and the US-Israel alliance as a state of 'no war, no peace,' calling for an immediate halt to the conflict and questioning the lack of pressure on the US and Israel to cease aggression.
Donald Trump issued a fresh warning to Iran as negotiations remained deadlocked over uranium stockpiles, sanctions relief and war compensation. The US President's sharp remarks came just hours after Iranian media revealed Washington's core conditions for resuming negotiations.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
Despite ongoing tensions in West Asia, the successful arrival of the LPG carrier 'Nanda Devi' in Gujarat ensures a steady supply of liquefied petroleum gas to India, highlighting the country's efforts to secure its energy needs.
Whether it's made-to-order fashion, reduced waste or tech-driven showcases, designers are being forced to slow down and think smarter.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
'The US was well aware of the nationality of the seafarers on board the vessels. It was not hidden. The nationality of those aboard a merchant ship is known to all the ports.' 'So, why did US shoot a missile that resulted in the deaths of the Indian mariners?'
Iran has blamed the US for disruptions in oil and gas shipping through the Strait of Hormuz, citing 'destabilising actions' as the cause amid the ongoing West Asia conflict and rising energy prices.
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
Indian eateries are adapting to the LPG crisis by cutting menus, increasing prices, and switching to alternative fuels like coal, as LPG supplies are disrupted due to global events. State authorities are cracking down on hoarding and black marketing of LPG cylinders.
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.
