For weeks, the war skirted the edge of catastrophe without tipping over. Missiles flew, there was much destruction, commanders were assassinated, cities across the Gulf and even in Israel struggled to absorb the shock. But one line held: Energy infrastructure, the arteries of the global economy, remained largely untouched. That is no longer true. Prem Panicker continues his must read daily blog on the Gulf War.
The Indian rupee depreciated by 52 paise to settle at 93.35 against the US dollar, driven by failed US-Iran peace talks, surging crude oil prices due to a potential US blockade of Iranian ports, and a global flight to the greenback. This geopolitical uncertainty is also leading to foreign capital withdrawal from domestic equities.
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.
India on Tuesday expressed deep concern over the escalating conflict in Iran and the Gulf region, urging all sides to exercise restraint and prioritise civilian safety.
Amidst global energy market volatility driven by the West Asia crisis, Russia has proposed increasing its crude oil and natural gas supplies to India, strengthening bilateral energy ties and aiming for USD 100 billion in annual trade by 2030.
An Indian national has been killed in Kuwait following Iranian strikes on a power and water desalination plant. The Indian Embassy is providing assistance and coordinating with Kuwaiti authorities.
Israeli Prime Minister Benjamin Netanyahu has threatened to continue targeting Iranian leaders, claiming recent successes in eliminating key figures. He asserted that Israel, with US support, aims to undermine the Iranian regime and empower the Iranian people.
The Indian mission in Iran has advised its citizens to carefully consider the evolving security situation before undertaking non-essential travel to the country, citing recent regional developments and conflicts.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
Iran's supreme leader Mojtaba Khamenei on Wednesday extolled the sacrifice and martyrdom of senior Iranian armed forces leaders as the conflict in West Asia enters into its second month.
Prime Minister Narendra Modi convened a meeting with senior ministers to assess the impact of the evolving situation in West Asia on India's crude oil, gas, petroleum, power, and fertiliser sectors, focusing on ensuring uninterrupted supply and stable logistics.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
Pakistan's Prime Minister Shehbaz Sharif has engaged in extensive diplomatic efforts to de-escalate the conflict in West Asia, offering to host talks between the US and Iran and engaging with leaders from Saudi Arabia, Qatar, Malaysia, the UK, China, and the European Union.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
The escalating conflict involving the U.S. and Israel with Iran has led to widespread disruption in the world of sports, with events postponed, travel plans thrown into chaos, and athletes seeking asylum.
Aseem Mahajan, Additional Secretary (Gulf) in the Ministry of External Affairs, on Saturday informed that five Indians have been killed and one is missing due to the ongoing conflict in West Asia. He added that Indian missions remain open round the clock and are constantly working to provide assistance.
Two expatriate workers were killed after debris from a downed drone fell in an industrial area in the Sohar province of Oman.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
Prime Minister Narendra Modi spoke with leaders from Oman, Kuwait, and Qatar, expressing concern over attacks in West Asia and discussing the safety of the Indian community.
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.
An Indian national was killed in a missile attack on Riyadh, bringing the total number of Indian fatalities in the West Asia conflict to six. The Indian embassy in Riyadh has expressed condolences and is providing assistance to the family.
Dozens of Indian-flagged ships and over a thousand seafarers are stranded in the Persian Gulf, Gulf of Oman, and surrounding areas due to the closure of the Strait of Hormuz amidst ongoing military actions involving the US, Israel, and Iran.
Indian equities on Dalal Street saw volatility as global market trends and fresh tariff concerns linked to Donald Trump impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Feb 24, 2026.
Equity benchmark indices Sensex and Nifty experienced a significant decline, primarily driven by a selloff in IT stocks due to concerns about AI disruption and renewed worries over global trade.
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.
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.
Uncertainty stemming from the US-Iran conflict has significantly impacted India's mutual fund industry, leading to a sharp decline in new fund offers (NFOs) in March, despite numerous regulatory approvals. This geopolitical tension, coupled with existing market strain and distributor hesitation, has dampened investor sentiment and affected overall inflows.
For India, China's Indian Ocean power projection, maritime domain awareness, dual-use ports, underwater surveillance, antisubmarinewarfare, naval exercises with Pakistan, pose considerable pressure, depleted India's strategic depth and marginalises Indian role, points out Srikanth Kondapalli.
Former President Donald Trump claims the United States has become the 'real United Nations' due to its role in resolving global conflicts, criticizing the UN's lack of involvement. He cites brokering a ceasefire between Thailand and Cambodia as an example.
'Within minutes, my mobile began ringing. It was National Security Adviser Brajesh Mishra, asking why the Iranians were complaining.' 'I explained that we had only restated our position in the light of the conclusion reached by the IAEA, but will remain helpful to Iran to reach a consensus.' 'Then came a call from Foreign Secretary Kamal Sibal, repeating what Mishra said about the Iranian complaint.' 'I was very impressed that Iran was able to reach two top officials in India to intervene at short notice,' recalls Ambassador T P Sreenivasan.
Prime Minister Narendra Modi will hold a video conference with chief ministers of most states to assess their preparedness and strategies in response to the ongoing conflict in West Asia.
Addressing the 36th extraordinary session of the Council of the International Maritime Organisation (IMO) held on Thursday in London, the Indian envoy said, "India remains deeply concerned about the evolving situation and continues to call for de-escalation through dialogue and diplomacy, with utmost restraint and priority being given to the safety of civilians."
The United States, which entered this war in expectation of a short, sharp win along the Venezuela model, is now preparing for deeper involvement in a conflict it does not fully control, without the allies it typically relies on, against an adversary that is not behaving as expected, in a global environment that is already absorbing economic shock. Prem Panicker continues his must read daily blog on the Gulf War.
The Ministry of External Affairs (MEA) has stated that Prime Minister Narendra Modi and External Affairs Minister S Jaishankar are actively engaged with world leaders to promote dialogue and diplomacy for peace in West Asia, while also ensuring the safety and well-being of the Indian community in the region.
According to a statement, the move follows rigorous monitoring of digital platforms to combat the spread of fabricated information and artificial content intended to incite public disorder and undermine general stability.
The IRGC said five missiles were launched at 'the headquarters of the US Army at the Harir Air Base in Erbil, located in Iraq's Kurdistan Region'.
The UAE consulate in Erbil, located in Iraq's Kurdish region, suffered structural damage in the aerial attack. Officials said there were no casualties.
Specifically, military experts are assessing if the 'Octopus' interceptor anti-drone system, produced in the UK to support Ukraine in countering Russian threats, could be repurposed to strengthen British protections against Iran's Shahed drones.
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 stated that India has demonstrated resilience in the face of recent global shocks, including the conflict in West Asia, while speaking at the convocation ceremony of IIM Raipur. He emphasised the importance of building national capabilities to de-risk and develop leverage in a changing global order.
