The Congress party has sharply criticised the Modi government for its silence after a US submarine sank an Iranian warship near Sri Lanka, escalating tensions in West Asia. Rahul Gandhi accused the Prime Minister of compromising India’s strategic autonomy.
India, heavily reliant on long-term LNG contracts with Qatar, faces a temporary cargo suspension, causing up to 40% supply cuts for industries and city gas distributors
Asian markets plunged as the Iran-US-Israel conflict escalated, with South Korea’s Kospi falling over 12% and oil prices surging. Investor fears over supply disruptions through the Strait of Hormuz drove global market volatility and rising inflation concerns
With 25 days of crude and fuel stocks, plus strategic reserves and diversified imports, India is confident of maintaining supplies even if the West Asia crisis continues, a top oil ministry official said
Crude oil prices rose over 1 per cent amid West Asia tensions and threats to shipping through the Strait of Hormuz. Brent crude touched $79.2 per barrel, with analysts warning prolonged disruptions could sharply impact India’s imports
Iran launched a drone strike on the United States Embassy Riyadh as fighting intensified with the US and Israel. Donald Trump signalled prolonged operations, while regional attacks, rising casualties and strikes on nuclear and energy sites deepened Middle East instability
US Secretary of State Marco Rubio said Washington has prepared measures to counter rising oil prices and protect shipping lanes while continuing strikes on Iran’s missile and naval assets, ruling out ground forces and emphasising limited objectives.
Rising Israel-Iran tensions may pressure Indian markets as crude prices climb on Strait of Hormuz concerns. Analysts warn inflation risks if oil tops $80, while energy and defence stocks could gain. Nifty 50 signals weakness amid volatility and geopolitical uncertainty
The Israel-Iran war raises fears Iran may block the Strait of Hormuz, a vital oil route. Such a move could spike global oil prices and disrupt supply, though analysts believe US military intervention would likely reopen the strait quickly
Experts warned that if Tehran chooses to close the Strait of Hormuz -- the critical oil corridor connecting the Persian Gulf and the Arabian Sea -- in retaliation to the US strikes, the global economy as well as the Indian economy would be severely impacted.
1,300-tonne vessel equipped with surface-to-surface and surface-to-air missiles, anti-aircraft batteries, sophisticated radar and radar-evading capabilities
