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.
Indian benchmark indices Sensex and Nifty climbed in early trade, driven by a significant drop in crude oil prices following reports of a potential 60-day ceasefire extension between the US and Iran, coupled with positive global market trends and buying in IT stocks.
'In such a scenario, Iran could proclaim itself victor, rebuild, re-enforce its diminished regional proxies to further destabilise neighbouring nations and take control of the Persian Gulf and Strait of Hormuz.'
'I suspect that Bangladesh being given permission stuck in India's official craw, and this story was an attempt to balance the scales by giving the impression that a similar waiver had been given to India as well.'
Russian President Vladimir Putin is actively working to de-escalate the escalating crisis in the Gulf, engaging with regional leaders following Iran's retaliatory strikes on US facilities after joint US-Israeli strikes against Iran.
'The US landed in this war without planning. The US felt that if they kill Ayatollah Khamenei the people of Iran will come out on the roads and do a regime change.' 'On the contrary, the US bombings on Iran has united the entire nation.'
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 ceasefire is still technically holding, to the extent that no overt hostilities have been reported yet, but the rhetoric has hardened dangerously. The week ahead will also clarify whether the Islamabad failure was a negotiating tactic or whether Washington has genuinely locked itself into a position from which the only exits are climb-down, escalation, or the slow bleed of a new status quo that nobody chose and nobody controls. Prem Panicker continues his must read blog on the Iran War.
An air strike conducted by US and Israeli forces on the Black Mountain has resulted in the deaths of at least three individuals, Al Jazeera reported, citing Iranian state media.
Amid escalating tensions in West Asia, the Indian government has established a control room to provide crucial support and assistance to the nearly one crore Indian citizens residing in the region.
A United States missile strike has reportedly hit an educational facility in Khomeyn in central Iran, according to a report by Al Jazeera citing Iran's Mehr news agency. The site was identified as the Dr Hafez Khomeyni School.
Quoting assembly of experts member Mirbaqeri, the report stated that while a "majority consensus over Khamenei's successor has been reached," the transition process is not yet fully complete as "some obstacles regarding the process need to be resolved."
The Indian government has convened an all-party meeting to discuss the ongoing crisis in West Asia, following Prime Minister Modi's address to Parliament on the situation and its potential impact on India.
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.
Pakistan's Foreign Minister Ishaq Dar has been actively involved in mediating between Saudi Arabia and Iran following the outbreak of war, ensuring the safety of Pakistani citizens in affected regions.
India has expressed firm opposition to attacks on merchant shipping amidst the ongoing Iran conflict, revealing that several Indian nationals have died or are missing due to these incidents. The nation also called for restraint, de-escalation, and prioritising civilian safety in the region.
Amid escalating tensions, Iranian Deputy Foreign Minister Saeed Khatibzadeh declares Iran's unwavering commitment to a 'heroic nationalist defence' against perceived American and Israeli aggression, vowing to resist what he calls an 'invasion' to the very end.
'Without ground troops the US will not be able to oust the Iranian Islamic regime. Political change does not happen just by using bombs or planes.'
'Despite the large number of missiles and drones we have already launched, we still possess reserves and missile cities whose doors have not yet been opened,' says Iran's Consul-General Saeid Reza Mosayeb Motlagh.
Economist Jeffrey Sachs saw Gulf nations' decision to partner with the US through the Abraham Accords as an "invitation for disaster" as it made them more dependent on American protection.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
The ongoing conflict involving the United States, Israel, and Iran intensified sharply with attacks on critical energy infrastructure across the Gulf, even as US President Donald Trump said he had cautioned Israeli Prime Minister Benjamin Netanyahu against targeting Iran's key South Pars Gas Field.
'In India, there is this first generation migrant, say from a small village in UP. He didn't go to the Gulf to buy a big house but make the life of his family better.' 'He may have paid 1 lakh rupees to an agent to go to the Gulf. Imagine what will happen to him and his family if he has to come back. He and his family will become poor again.' 'He went to the Gulf to come out of poverty, but this war will make his family trapped in poverty once again.'
Families in Ambari village are anxiously awaiting news of their relatives stranded in Iran amid escalating conflict, with limited communication and growing concerns for their safety.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
The BSE benchmark traded 44.43 points up at 76,521.93, and the Nifty quoted 17.20 points higher at 24,048.85. Track Stock markets on May 26.
India on Friday launched a highly coordinated, priority operation to safely guide 13 Indian-flagged commercial vessels out of the volatile Strait of Hormuz, the ministry of ports, shipping, and waterways announced on Friday.
Several residents of Amethi, Uttar Pradesh, including students, are stranded in Iran due to ongoing joint strikes by the United States and Israel, prompting calls for government assistance.
US President Donald Trump's threats against Iran have drawn strong condemnation from Democrat leaders, who are calling for his removal from office, while some Republicans express concern.
Prem Panicker's Must Read Blog On The Gulf War.
When missiles fly in this region, they are never just aimed at military targets.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
'DRDO has been directed to license missile technologies to the private sector.'
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.
There is no cause for concern, as the overall situation arising out of the crisis is firmly under control, the Centre informed while briefing political parties at the all-party meet.
Amidst ongoing conflict, Iranian President Masoud Pezeshkian signals a potential de-escalation by apologising to neighbouring countries while firmly rejecting US President Donald Trump's demand for unconditional surrender.
An India-flagged LPG tanker, Jag Vikram, has successfully crossed the Strait of Hormuz following a temporary ceasefire between the United States and Iran, marking a significant development for India's energy security.
According to Iranian state media, Islamic Republic of Iran Broadcasting (IRIB), the threat was articulated by Ebrahim Zolfaghari, spokesperson for Iran's Khatam al-Anbiya Central Headquarters.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
