'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
India's handling of the Iran crisis reflects a growing strain between strategic autonomy and geopolitical alignment, observes Ambassador M K Bhadrakumar.
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.
Baghaei also alleged that recent unrest in Iran was fuelled by foreign interference, claiming riots were triggered by "very evident" interventionist remarks by US and Israeli officials.
Sonia Gandhi criticised PM Modi's Israel visit, calling it a "bewildering strategic decision" amid the regional conflict.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
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.
Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
India's trade with West Asia saw a significant decline of over 28% in April, marking the second consecutive month of contraction. This downturn is attributed to severe shipping disruptions stemming from the ongoing conflict involving the US, Israel, and Iran, particularly impacting the crucial Strait of Hormuz waterway.
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.
Speaking to North Korea's Supreme People's Assembly on Tuesday, Kim accused the United States of carrying out 'terrorism and invasions' across regions, referring to the ongoing conflict involving Iran.
'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.'
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
'Unfortunately, today most ministers are busy with either election duty or praising duty. They are not interested in serving duty.' 'Ministers have become relaxed like retired people still holding onto jobs.' 'Look at how the NEET paper leaked. But there is no accountability.' 'After 12 years, they have become saturated. They are short of ideas.'
'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.
The White House has responded cautiously to reports of Pakistan offering to mediate between the US and Iran, amid ongoing tensions and potential talks.
'We are getting used to the constant alerts to take shelter, listening to sonic booms from jets flying above us, hearing news of neighbouring ports being targeted, and being the only ship in the terminal.'
US President Donald Trump on Friday referred to the Strait of Hormuz as a potential "gusher" for the world and spoken about "opening it for the world."
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.
'Was the five-day pause ever meant to hold, or was it simply another instrument of signaling, of positioning, of buying time in a war where even the pauses are tactical?' asks Prem Panicker in his must read daily blog on the Gulf War.
The Israeli Finance Ministry has warned that the ongoing war with Iran could cost Israel an estimated NIS 9.4 billion (USD 3 billion approximately) per week under current restrictions on economic activities.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
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.
As days turn into weeks and America loses more planes, as the destruction of trillions of dollars worth military assets piles up, and dead bodies of soldiers return in ever greater numbers in coffins, Trump will have to answer some very difficult questions to save his presidency, notes Ambassador M K Bhadrakumar.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
In response to Prime Minister Narendra Modi's call for austerity, political leaders are reducing convoys and promoting public transport to conserve fuel.
'Moments like this remind us how fragile life really is.'
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
Amid the ongoing conflict in West Asia, Israeli Ambassador to India, Reuven Azar, stated that Israel is willing to cease hostilities if Iran changes its course, emphasising that Tel Aviv has consulted diplomatic channels, including the US and regional partners.
'As result, Netanyahu 'convinced' Trump to go to war with the help of overoptimistic Israeli intelligence assessments, essentially explaining to him that they only need to bomb Iran for 3-4 days, and the regime would then collapse.' 'Rather unsurprisingly, Netanyahu is ever since blaming his own intel service for the entire operation failing.'
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Iran was the chance to arrange a concert of nations, to actually be a Vishwaguru. Instead, we are watching from the sidelines as Pakistan, the same country that is apparently still at war with Afghanistan, hosts talks between US-Israel and Iran. The irony is hard to miss, points out Amberish K Diwanji.
The Andhra Pradesh cabinet has recommended a series of measures, including 'No Vehicle Day,' online classes, and reduced foreign tours, to mitigate the economic impact of the Gulf war.
Frankly, was it really necessary in the middle of a fratricidal war for External Affairs Minister S Jaishankar to travel to Abu Dhabi for a one-on-one with the sheikh on April 12?Or, for National Security Advisor Ajit Doval to follow up on April 26? Or, for PM Narendra Modi to follow through today? There are no easy answers, notes Ambassador M K Bhadrakumar.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
The escalating conflict in West Asia widened on Monday as Israel launched airstrikes on Hezbollah targets in Beirut and other parts of Lebanon, following projectile fire from Lebanese territory into northern Israel. The Israeli Air Force (IAF) said in a series of posts on X that it carried out targeted strikes against senior members of Hezbollah in the Beirut area in response to the projectile fire launched toward Israel, particularly toward the north of the country.
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.
Market maven Andrew Holland on why India missed the AI wave, why FIIs are leaving, why he personally invests in cryptocurrencies and why he's still betting big on the country.
US President Donald Trump will travel to China in May for a rescheduled summit with Chinese President Xi Jinping, following a postponement due to the war in Iran. The White House has announced the new dates and indicated a reciprocal visit to Washington DC is planned.
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.
