The threat has raised concerns about possible asymmetric attacks outside the region. Iran has also stepped up attacks on energy infrastructure in Gulf countries.
Formerly Iran's second-largest oil customer, Indian financial institutions were forced to withhold crude oil payments following the 2018 US sanctions.
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.
Indian stock markets experienced a significant rally following the announcement of a US-Iran ceasefire, coupled with a drop in crude oil prices. The Sensex and Nifty both closed nearly 4 per cent higher, mirroring gains in global markets.
Donald Trump has issued a stern warning to Iran, stating that the US will take a tougher stance if a diplomatic resolution regarding its nuclear programme is not reached soon.
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 benchmark indices Sensex and Nifty experienced a decline due to renewed geopolitical concerns in the Strait of Hormuz, a strained US-Iran ceasefire, and the rupee hitting a record low against the US dollar.
The US Central Command (CENTCOM) confirmed striking the Guinea-Bissau-flagged oil tanker MT Jalveer, carrying 20 Indian seafarers, in the Gulf of Oman for allegedly violating the US blockade against Iran. This incident marks the third commercial vessel attacked by US forces in the region this week, with three Indian seafarers previously losing their lives in an attack on the MT Settebello.
Donald Trump has extended the deadline for Iran to reopen the Strait of Hormuz, amid escalating tensions between the two countries. Trump issued a harsh warning to Tehran, threatening to target Iran's energy and civil infrastructure if the Strait is not opened.
The Ministry of External Affairs (MEA) has refuted reports suggesting a deal with Iran involving the release of seized vessels in exchange for safe passage of Indian ships through the Strait of Hormuz.
'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?'
'We caught General Pervez Musharraf talking over the phone with his Chief of General Staff Lieutenant General Mohammad Aziz. Musharraf was visiting China; Aziz was in Rawalpindi.'
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.
Fuel prices have risen by about Rs 7.5 per litre since May 15, as global crude oil prices surged due to the ongoing conflict in West Asia and supply concerns around the Strait of Hormuz.
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.
Following a US agreement to a ceasefire, Iran claims victory and outlines conditions for a lasting peace deal, including control over the Strait of Hormuz and the removal of sanctions.
In a significant diplomatic development, US and Iranian negotiators have reportedly reached a tentative 60-day memorandum of understanding (MoU) aimed at extending a fragile ceasefire and paving the way for formal talks regarding Iran's nuclear programme.
Iran on Monday described the 15-point proposal from the United States to end the conflict in West Asia and reopen the strategic Strait of Hormuz as 'excessively demanding', stating that it has prepared its own set of demands to end hostilities, which have now entered their second month.
There are roughly 2,000 ships stranded in the Persian Gulf, carrying more than 20,000 seafarers, according to the International Maritime Organisation, as quoted by The Wall Street Journal.
Amid rising tensions in West Asia, China is urging all parties to cease military operations, following Trump's appeal for help in securing the Strait of Hormuz.
A source familiar with US Treasury Secretary Scott Bessent's thinking revealed on Saturday that the department "intends to utilise all available authorities to make Iranian assets accessible for rebuilding and repair efforts related to any future damage inflicted by Iran."
Iranian President Masoud Pezeshkian is on a state visit to Pakistan to discuss the full implementation of an agreement signed between Iran and the US, alongside regional and international developments. The visit also aims to strengthen bilateral cooperation across various sectors, following recent high-level talks between the US and Iran in Switzerland regarding regional security.
Pakistan Prime Minister Shehbaz Sharif announced that a US-Iran peace deal is on the verge of finalisation, potentially within the next 24 hours, marking a significant diplomatic breakthrough after months of intense negotiations.
Indian-flagged vessels are navigating the Strait of Hormuz safely despite ongoing tensions in the region, ensuring the continued flow of vital energy supplies to India.
Pakistan Prime Minister Shehbaz Sharif on Friday said that the US and Iran have agreed on the text of a peace deal, kindling hope of a diplomatic breakthrough in the region.
Iranian Foreign Minister Seyed Abbas Araghchi announced the official end of the war and warned that any Israeli attack on Lebanon would violate an agreement between Iran and the United States. He also stated that negotiations on nuclear issues and sanctions lifting would begin on Saturday, led by Iran's Parliamentary Speaker M B Ghalibaf and US Vice President J D Vance.
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.
A potential agreement between the United States and Iran, including a comprehensive ceasefire and gradual lifting of US sanctions, may be announced soon, according to reports. The agreement aims to de-escalate tensions and establish a framework for resolving disputes.
Israel's Defence Minister Israel Katz declared that the Israeli military will not withdraw from its security zones in Lebanon, Syria, and Gaza, directly opposing the newly announced American-led diplomatic framework with Tehran. National Security Minister Itamar Ben-Gvir further asserted Israel's sovereignty, stating, "Trump's agreement does not bind us. Israel is not subject to the United States, and we are an independent and sovereign nation!"
Crude oil prices experienced a significant drop following the announcement of a US-Iran ceasefire and the reopening of the Strait of Hormuz, leading to heavy selling by traders.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
Analysts predict that the ongoing US-Iran conflict, fluctuations in crude oil prices, and foreign institutional investor (FII) flows will be the primary factors influencing Dalal Street this week, with inflation concerns adding to investor anxiety.
Analysts predict that inflation data, the US Federal Reserve's interest rate decision, and crude oil price trends will be the primary factors influencing the movement of Indian stock markets. Geopolitical developments, particularly the US-Iran deal, and foreign investor activity will also play a crucial role.
US President Donald Trump lauded Prime Minister Narendra Modi's 'calm, cool, killer' persona at the G7 leaders' lunch in France, underscoring the deeply strategic relationship and formidable diplomatic skills of the Indian leader ahead of their crucial bilateral meeting.
Israel will continue its offensive in South Lebanon aimed at neutralising the threat from Hezbollah, which is backed by Iran.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
The United States Central Command (CENTCOM) has announced that American forces are maintaining a strict maritime restrictive operation in the region, continuing to enforce a blockade against Iranian ports.
According to sources, the Indian Navy warships are on standby to provide assistance or help required by merchant vessels.
Hours after warning that the United States could strike Iran "very hard tonight", President Donald Trump announced to halt planned military action, despite earlier threats to target Kharg Island and other key Iranian oil facilities.
Following the signing of a 14-point Memorandum of Understanding (MoU) with Iran, US President Donald Trump reiterated the terms for a 60-day negotiation period, vowing that Tehran will receive "not ten cents" in financial relief.
