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West Asia Conflict
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US warns shipping firms of sanctions over paying Iranian tolls in Hormuz
Iran closed the strait and later began offering some ships safe passage by detouring them through alternate routes closer to its shoreline, charging fees at times for the service
Spirit Airlines shuts down ops due to Iran war-driven fuel crisis
The collapse of the first carrier due to a doubling in jet fuel prices during the two-month-old Iran war will cost thousands of jobs
Updated On: May 02 2026 | 12:50 PM ISTIran inflicts 'unprecedented damage' to US bases in West Asian countries
US military bases in West Asian nations has become Achilles heel as Iran inflicts 'unprecedented damage'
Updated On: May 02 2026 | 11:17 AM ISTCentre allows force majeure relief for govt contracts amid West Asia crisis
Measure allows deadline extensions of up to four months without penalties for firms hit by supply disruptions, subject to case-by-case approval and only if they were not in default before February 27
Updated On: May 02 2026 | 9:53 AM ISTLatest Updates on West Asia Conflict
President Donald Trump said on Saturday that he was reviewing a new Iranian proposal to end the war but also expressed scepticism that it would lead to a deal. "I'll let you know about it later," he said before boarding Air Force One, adding that "they're going to give me the exact wording now." Shortly after speaking to reporters, Trump posted on social media about the new proposal, saying he "can't imagine that it would be acceptable in that they have not yet paid a big enough price for what they have done to Humanity, and the World, over the last 47 years." Two semiofficial Iranian news outlets, Tasnim and Fars, believed to be close to Iran's paramilitary Revolutionary Guard, said Iran has sent a 14-point proposal via Pakistan in response to a nine-point US proposal. Iran's state-run media have not reported on the new proposal. Pakistan has hosted previous negotiations between Iran and the United States. Trump rejected a previous Iranian proposal this week. However, conversation
Chief Economic Advisor V Anantha Nageswaran on Saturday said India needs to create strategic buffers in the face of the "most difficult" energy shock that the country is facing amid the West Asia crisis. Nageswaran also said the rising prices of fertiliser and petroleum products globally due to the crisis will make it challenging to achieve the 4.3 per cent fiscal deficit target for the current fiscal, while below normal monsoon and pass-through of higher energy prices could lead to "potential inflation spike". He also said India has employment challenge emanating from AI, and there is a need to ensure that IT sector becomes more competitive and not lose jobs to AI, and instead create jobs that use AI within the IT sector or in other services. Speaking at the ICPP Growth Conference organised by the Ashoka University, Nageswaran said the current account deficit (CAD) in the current fiscal could rise to over 2 per cent of GDP, from less than 1 per cent in FY'26. "The ... priority for
The White House asserted to Congress in a letter Friday that hostilities with Iran have "terminated" despite the continued presence of U.S. armed forces in the region. The message from President Donald Trump effectively skirts a May 1 legal deadline to gain approval from members of Congress to continue the war with Iran. That deadline was already set to pass without action from Republican lawmakers who are deferring to the president. The letter brings into stark relief the bold but legally questionable assertion of presidential power at the heart of Trump's war, which he began without congressional approval two months ago. "The hostilities that began on February 28, 2026, have terminated," Trump wrote House Speaker Mike Johnson, R-La., and Sen. Chuck Grassley, R-Iowa, the Senate president pro tempore. He also made it clear in the letter that the war may be far from over. "Despite the success of United States operations against the Iranian regime and continued efforts to secure a .
The US on Friday sanctioned a China-based crude oil terminal operator for importing petroleum products from Iranian entities and warned others of facing the same consequences if they paid a toll to Tehran to cross the Strait of Hormuz. "The US is taking decisive action to disrupt Iran's illicit oil trade, the Iranian regime's primary revenue streams that fund terrorism and regional destabilization," US Department of State spokesman Tommy Pigott said in a statement. Pigott said the department sanctioned multiple entities, an individual, and a vessel involved in the trade of Iranian petroleum and petroleum products. The action targets a China-based petroleum terminal operator - Qingdao Haiye Oil Terminal Co., Ltd. - that has imported tens of millions of barrels of sanctioned Iranian crude oil since February last year. The US also sanctioned Xingchun Li, a Chinese national and the president of QINGDAO HAIYE, and two vessel management companies UK-based Thriving Times International an
Activists worldwide will march in May Day rallies Friday, calling for peace, higher wages and better working conditions as many workers grapple with rising energy costs and shrinking purchasing power tied to the Iran war. The day is a public holiday in many countries, and demonstrations, some of which have turned violent in the past, are expected in many of the world's major cities. "Working people refuse to pay the price for Donald Trump's war in the Middle East," the European Trade Union Confederation, which represents 93 trade union organisations in 41 European countries, said. "Today's rallies show working people will not stand by and see their jobs and living standards destroyed." In the United States, activists opposing US President Donald Trump's policies are planning marches and boycotts. Here's what to know about May Day Rising energy prices and living costs -------------------------------------------- Rising living costs linked to the conflict in the Middle East are e
The Trump administration is arguing that the war in Iran has already ended because of the ceasefire that began in early April, an interpretation that would allow the White House to avoid the need to seek congressional approval. The statement furthers an argument laid out by Defense Secretary Pete Hegseth during testimony in the Senate earlier Thursday, when he said the ceasefire effectively paused the war. Under that rationale, the administration has not yet met the requirement mandated by a 1973 law to seek formal approval from Congress for military action that extends beyond 60 days. A senior administration official, who spoke on condition of anonymity to discuss the administration's position, said for purposes of that law, "the hostilities that began on Saturday, Feb 28 have terminated." The official said the US military and Iran have not exchanged fire since the two-week ceasefire that began April 7. While the ceasefire has since been extended, Iran maintains its chokehold on th
After weeks of delay, the House on Thursday voted to fund much of the US Department of Homeland Security, excluding immigration enforcement. The bipartisan package would end the agency's longest shutdown and avoid another round of airport disruptions. The bill now heads to President Donald Trump to sign, although much of his immigration agenda - which has been central to the dispute over funding - is paid for separately. Meanwhile in the Senate, Defence Secretary Pete Hegseth and the chairman of the Joint Chiefs of Staff faced another day of intense questioning as the Trump administration seeks a historic USD 1.5 trillion military budget for 2027. It's the first chance for senators to confront or praise how the leaders are handling the Iran war. One Democrat raised "serious constitutional concerns" about Hegseth's claim that the 60-day legal limit for the war is on pause during a ceasefire. Senators also questioned the defense secretary's efforts to remake military culture, the ...