Iran's Islamic Revolutionary Guard Corps (IRGC) claims to have captured a US unmanned submersible near the Strait of Hormuz and launched ballistic missile strikes against a US airbase in Jordan and two US Navy destroyers. These actions are stated as retaliation for recent US attacks on Iranian oil tankers. The US Central Command (CENTCOM) had previously reported destroying Iranian crude oil carriers after IRGC missile attacks on US warships. The escalating tensions have led to regional air defence activations and warnings to tanker crews.
US President Donald Trump stated that the United States is taking a "low-key" approach towards Iran, focusing on economic pressure rather than military action, amidst ongoing tensions over the Strait of Hormuz. Trump highlighted Iran's worsening economic situation and the impact of the US naval blockade, while negotiations for reopening the Strait remain stalled due to new conditions from Tehran.
Analysts predict that developments in the West Asia conflict, crude oil prices, and upcoming US inflation data will be the primary factors influencing the Indian stock market next week, alongside foreign investor activity and global market trends.
Is the current rally telegraphing a durable peace plan in West Asia, boosted by United States (US) President Donald Trump's incoherent and contradictory posts on social media?
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
US President Donald Trump claimed on Tuesday that Tehran has consented to long-term, comprehensive monitoring of its nuclear infrastructure. Concurrently, Washington will ease shipping constraints in the Strait of Hormuz and release bound financial concessions, subject to stringent American oversight.
A convoy of India-bound ships carrying crude oil and gas was stopped by the Iranian Revolutionary Guard Corps (IRGC) in the Strait of Hormuz, leading to several vessels returning to the Persian Gulf.
India's current account deficit could widen to 1.7 per cent of GDP, or about $71 billion, if crude oil prices stay above $90 a barrel for a significant part of the second half of FY27.
Trump's message, posted on his Truth Social platform, is a reminder of his 10-day ultimatum given to the Islamic Republic earlier to make progress toward a deal or reopen the vital shipping lane.
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
The Iranian Embassy in South Africa has launched a biting social media attack on US President Donald Trump, using a viral maritime audio clip to label him an "idiot".
The US has informed allies it will avoid new military strikes on Iran, instead focusing on economic sanctions and maritime enforcement, particularly in the Strait of Hormuz. This strategic shift aims to intensify pressure on Tehran's economy and oil exports while keeping the military option open if Iran initiates aggression. Diplomatic efforts continue amidst persistent regional tensions and maritime incidents.
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.
US President Donald Trump on Tuesday claimed that Iran is in a "state of collapse" and has requested the United States to help "open" the Strait of Hormuz.
A high-stakes memorandum for a 60-day ceasefire between the United States and Iran is in its final stages, with negotiators working to close remaining gaps and avert further escalation in the region, including reopening of the Strait of Hormuz and the resumption of Iranian oil sales, according to an Axios report citing US officials.
Indian benchmark indices, Sensex and Nifty, saw declines in early trade due to escalating crude oil prices and ongoing US-Iran hostilities, which subdued investor risk appetite.
US President Donald Trump has indicated that 'a lot of progress' has been made regarding Iran, suggesting that Tehran has reached out for talks and that developments could become clearer within 48 hours.
Lieutenant General Apti Alaudinov, deputy chief of the Russian Armed Forces' Main Military-Political Department, has warned that the escalating conflict in West Asia could lead to Israel ceasing to exist as a state, accusing Israel of seeking to widen the confrontation to involve the US and NATO.
India on Tuesday reiterated the call for free and safe navigation in international waters and the unhindered flow of commerce through international waterways in the region after the Panama-flagged commercial vessel MT El Gaia came under attack off the coast of Oman, with 13 of the 14 Indian nationals on board rescued while search operations are underway for one missing seafarer.
US President Donald Trump is considering ending the military operation against Iran even if the Strait of Hormuz remains closed, according to the Wall Street Journal.
The US has threatened to prosecute those buying or selling sanctioned Iranian oil and has announced a blockade of the Strait of Hormuz after peace talks failed.
Head of the Iranian Parliament's National Security Committee Ebrahim Azizi on Saturday said that Iran has prepared a "professional mechanism" to regulate maritime traffic in the Strait of Hormuz through a designated route, which will be unveiled soon.
In a post on Truth Social, Trump used unusually harsh language to convey his message, reminding Tehran of his deadline to 'make a deal' or 'open the Strait'.
External Affairs Minister S Jaishankar has emphasised India's commitment to safe maritime transit and condemned attacks on merchant shipping amidst the ongoing West Asia conflict and global energy market disruptions.
China has called on Iran to reopen the Strait of Hormuz and expressed appreciation for Tehran's commitment not to develop nuclear weapons, a key demand of the US to end the conflict.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
Iran has announced the Strait of Hormuz is open to commercial vessels, coinciding with a ceasefire between Lebanon and Israel.
UN Secretary-General Antonio Guterres has expressed deep concern over US President Donald Trump's warning to Iran and appealed for the re-establishment of freedom of navigation in the Strait of Hormuz.
IRGC said vessels seeking to sail through the strategically critical Strait of Hormuz must obtain Iran's approval; otherwise, they could become targets of Iranian attacks.
A senior Russian official has stated that Russia is prepared to supply fertilisers and other agricultural products to countries in the Global South and East, following concerns about the closure of the Strait of Hormuz impacting global fertiliser exports and food security.
The United States military has intercepted and destroyed two Iranian attack drones that posed an immediate hazard to commercial shipping lanes in the Strait of Hormuz, according to an official statement by the US Central Command late Saturday.
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.
The tanker reportedly switched off its Automatic Identification System (AIS) transponder while navigating the high-risk stretch of the strait and reappeared on tracking systems on March 9.
China has criticised the US blockade of the Strait of Hormuz, calling it a dangerous and irresponsible move, and urged Washington and Tehran to honour the ceasefire. Beijing also denied aiding Iran militarily and threatened countermeasures if the US imposes tariffs.
New photographic evidence and a Pentagon inspector general's report confirm extensive damage to US military installations across the Middle East due to Iranian missile and drone strikes. The report details billions in financial costs, structural losses to hundreds of buildings, and damage to dozens of aircraft, contradicting previous assertions about US military readiness and ordnance stockpiles. The conflict also led to disruptions in the Strait of Hormuz, impacting global oil prices.
Indian benchmark indices Sensex and Nifty saw declines in early trade, influenced by elevated crude oil prices stemming from renewed geopolitical uncertainties, particularly concerns surrounding the Strait of Hormuz. Track Sensex, Nifty on August 11, 2026.
US President Donald Trump has announced plans to clear the Strait of Hormuz to secure the vital oil corridor, citing risks to global energy supplies and criticising other nations' inaction.
Finance Minister Nirmala Sitharaman stated that India is likely to sustain economic growth of 7 per cent or more in 2026-27, continuing the pace recorded since the Covid-19 pandemic, despite geopolitical uncertainties and supply-chain disruptions.
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
Prime Minister Narendra Modi hosted Iranian President Masoud Pezeshkian in New Delhi for talks focusing on the West Asia situation, bilateral relations, and BRICS cooperation. The meeting, Pezeshkian's first visit to India as president, comes amidst heightened tensions in West Asia due to new US sanctions on Iran and concerns over global oil supplies from the Strait of Hormuz. Both leaders emphasised regional stability and economic resilience.
