Trump has said he would be present at the signing ceremony in Islamabad. Don't be surprised if the Pakistani hosts make it a grand event in the geopolitics of the region. Trump would love that, notes Ambassador M K Bhadrakumar.
A Palau-flagged oil tanker with 15 Indian crew members was attacked off the coast of Oman, resulting in injuries. The incident occurred amidst rising tensions in the Middle East following attacks between Iran, the US, and Israel.
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.
'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.
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.
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.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
External Affairs Minister S Jaishankar lodged a strong protest with US Secretary of State Marco Rubio over US Navy attacks in the Gulf that killed three Indian mariners. India also summoned the US Charge d'Affaires in New Delhi regarding the incident.
Indian benchmark indices Sensex and Nifty rebounded in early trade, driven by strong buying in blue-chip stocks and positive cues from Asian markets, following a significant selloff in the previous session.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
'It's very important for India to retain its sovereignty. India should not sign any agreement which compromises its sovereignty.'
India has seized three US-sanctioned oil tankers linked to Iran and increased surveillance in its maritime zone to curb illicit trade.
The West Asia conflict escalated sharply as Iran launched missiles towards Israel, while Tehran confirmed the killing of its intelligence minister in Israeli strikes, marking the third assassination of a senior Iranian official in two days.
The IRGC said the barrage targeted several US military facilities in the region, including bases at Sheikh Isa in Bahrain, Juffair in Bahrain, Ali al-Salem in Kuwait and Al Azraq in Jordan.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
The United States is facing growing discontent from its Gulf allies after several countries in the region complained that they were not given advance notice of the US-Israel strike on Iran that triggered widespread retaliatory attacks, according to media reports.
The urgency for a resolution is underscored by the military situation, as joint operations by Israel and the US have consistently been "targeting Iran's missile systems, launch sites and other critical infrastructure" since the onset of the conflict.
The United States has encouraged India to purchase Russian oil already at sea to mitigate supply shortages and price increases amid the West Asia conflict, according to Energy Secretary Chris Wright. This move is described as a short-term effort to stabilise the market without altering Washington's policy towards Russia.
The US Embassy acknowledged the attack in a post on X, urging Americans to avoid the facility 'until further notice' and announcing that all appointments had been cancelled.
A senior Iranian legislator has suggested that Tehran could further escalate pressure on its adversaries by targeting the Bab el-Mandeb Strait, raising concerns about global supply chain vulnerabilities.
Donald Trump claims a senior defence official urged military action against Iran, revealing escalating tensions and ongoing negotiations in the Middle East.
As many as 35 vessels, including cargo carriers and oil tankers, successfully navigated through the strategic maritime chokepoint of the Strait of Hormuz over the last 24 hours, according to Iran's state media reports citing a formal declaration by the Islamic Revolutionary Guard Corps (IRGC) Navy.
Each time a deadline almost runs out, President Trump hands out a new one.
The rupee has been among the The RBI uses the Iran-US peace deal to bolster its forex reserves.
Indian benchmark equity indices, Sensex and Nifty, saw a rebound in early trade, driven by a rally in global markets and easing Brent crude oil prices, with hopes of US-Iran peace negotiations also contributing to investor optimism. Track Sensex, Nifty on May 22
'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?'
Iranian forces fired upon three commercial vessels in the Strait of Hormuz, with one possibly headed for Gujarat, raising concerns about maritime security in the strategic waterway.
The escalating conflict in West Asia has resulted in 19 ships carrying essential energy resources for India being stranded in the Strait of Hormuz, raising concerns about potential disruptions to the country's energy supply.
India is in communication with Iranian officials to ensure the safety and secure passage of its ships through the Strait of Hormuz, following recent firing incidents involving Indian vessels.
Fathali further stated that Tehran has instructed its embassy in India to facilitate the Indian government, ensuring smooth operations amid the ongoing regional conflict.
Precious metal prices surged in futures trading, with silver hitting Rs 2.93 lakh per kg and gold nearing Rs 1.68 lakh per 10 grams, driven by safe-haven demand following US-Israel strikes in Iran and retaliatory attacks.
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.
'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.'
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
24 Indian-flagged vessels with 677 Indian seafarers were currently located west of the Strait of Hormuz, and four vessels with 101 Indian seafarers were stationed east of the strategic waterway.
The demerger of Vedanta's four new entities - Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel - has led to a 16% appreciation in aggregated market capitalisation, with Vedanta Aluminium Metal identified as a likely near-term top performer due to its scale, low production costs, and favourable commodities cycle.
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.
India's foreign policy establishment is adjusting with alacrity in real time -- an extraordinary spectacle in itself, considering the manifest reluctance to indulge in public diplomacy critical of American moves, observes Ambassador M K Bhadrakumar.
