The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
Opposition parties are demanding a full Parliament discussion on the West Asia conflict, criticising the government's silence and calling for a contingency plan to protect India's energy security and citizens.
'What we have yet to see on either the US or the Iranian side is willingness to compromise on their ultimate demands and the flexibility to reach an agreement to end the war.
Speaking to reporters during a cabinet meeting at the White House on Thursday, Trump said the US had engaged in 'very substantial talks' with Iranian officials and described the tanker movement as proof of seriousness in the discussions.
Iraq's Kurdistan Regional Government (KRG) on Saturday confirmed a drone strike targeting the residence of Kurdistan Region President Nechirvan Barzani in Duhok amid escalating tensions in West Asia, triggering a sharp blame game between the United States and Iran.
AI reduces the time taken to find a target and launch a strike. This has led to a major increase in the pace of the conflict, with one report mentioning nearly 900 strikes launched on Iranian targets in the first 12 hours of an operation.
The Beijing summit may have reduced immediate diplomatic uncertainty, but it did not resolve the deeper structural contest between the United States and China. That contest appears likely to define the coming decade, notes Varun Arya.
Pakistani Prime Minister Shehbaz Sharif is actively engaged in diplomatic efforts to de-escalate tensions in West Asia, offering to host talks between the US and Iran and engaging with regional leaders to promote peace and stability.
Hours after ceasefire, US President Donald Trump on Wednesday warned against any country supplying military weapons to the Islamic Republic, stating that he would impose a 50 percent tariff on all goods exported to the United States.
Saudi Arabia and the UAE are actively pushing Trump to take the war to its bitter finish and 'erase' Iran's presence in the geopolitics of the region. Simply put, the two most powerful Sunni Arab oligarchies are on the same page as Israel. Such interference increases the risk of a breakdown in dialogue between the US and Iran, points out Ambassador M K Bhadrakumar.
The IRGC accused US and Israeli forces of using civilians as 'human shields' and warned of continued attacks.
Ahead of the expiry on Tuesday of the two-week ceasefire declared by US President Donald Trump in the conflict with Iran, US media outlets reported on Sunday that negotiators Steve Witkoff, special envoy for peace missions and Jared Kushner will head to Islamabad for talks with Iran.
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.
India has expressed strong concern over the targeting of commercial shipping in the Strait of Hormuz during the West Asia conflict, urging for the restoration of unimpeded navigation and global commerce.
The authority has termed it an unfair trade practice under the Consumer Protection Act, 2019, pointing out that only applicable taxes can be added to the price mentioned in the menu.
US President Donald Trump stated that Iran is eager to make a deal and predicted a sharp decline in oil prices due to abundant supply, amidst a Senate resolution to limit his war powers in Iran.
After the United States and Iran agreed to a two-week ceasefire and expressed hope for lasting peace, Pakistan took much of the credit for playing mediator between the two countries. However, Jonathan Schanzer, Executive Director at the Foundation for Defence of Democracies and former US Treasury counterterrorism analyst, said Pakistan is deeply indebted to China.
Amidst escalating tensions in West Asia, Iran claims to have inflicted heavy casualties on US forces in Dubai, a claim vehemently denied by the US Central Command, raising concerns about regional stability.
A new assessment by the Institute for the Study of War (ISW) reveals that a power struggle within Iran's leadership, with hardliners gaining influence, could significantly impact future negotiations with the United States.
'Neither do the Israelis. The two attacking parties have very little economic interest in Hormuz.'
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
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.
Amid rising tensions, Iran reportedly launched ballistic missiles toward a US-UK military base, prompting concerns about regional stability and the potential for escalating conflict in the Middle East.
16 days into the war, US forces were already running out of ground-attack missiles and Israel is about to expend its entire Arrow interceptor missiles by end March. To be sure, the Iranians are watching closely and that explains their defiant stance that 'Iran will end the war when it decides to do so and when its conditions are met', notes Ambassador M K Bhadrakumar.
Pakistan's Prime Minister Shehbaz Sharif has offered to mediate between the US and Iran to de-escalate the ongoing conflict in West Asia, following a joint US-Israel attack on Iran. Sharif has been in contact with Saudi Arabia, the UAE, and other nations to promote dialogue and diplomacy.
The Bahrain Grand Prix and Saudi Arabian Grand Prix in the Formula One 2026 calendar are likely to be cancelled due to escalating Middle East tensions, with a final decision expected soon.
The logic of war plus the gathering storms in US politics as the midterms loom large leave him with no real alternative but to negotiate, points out Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi and US Secretary of State Marco Rubio discussed various aspects of India-US bilateral ties, focusing on defence, trade, energy, and technology. Rubio extended an invitation from President Donald Trump for PM Modi to visit the US.
Pakistan is set to host face-to-face talks between the United States and Iran, aiming to solidify a fragile ceasefire and prevent further conflict in West Asia. The discussions will focus on a long-term peace arrangement, including sanctions relief, regional security, and Iran's nuclear program.
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.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
'Jews are very much safe in Iran. They are our brothers. There is a difference between a Jew and a Zionist.' A conversation around a tea table in Mumbai serves as an eye-opener for Syed Firdaus Ashraf.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
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.
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
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.
US President Donald Trump is set to provide an "operational update" on the progress of 'Operation Epic Fury' during a national address scheduled for 9 PM Wednesday (US local time).
Markets will look for clear guidance on how the MPC interprets the uncertainty and what it implies for the future course of monetary policy, points out Rajeswari Sengupta.
Tensions between Washington, DC and Tehran have reached a boiling point, as a heavy barrage of aerial strikes was reported across multiple locations in Iran on Tuesday.
