Page 33 - Latest Updates on West Asia Conflict

Pentagon claims US blockade has cost Iran nearly $4.8 bn in oil revenue

The Department of War assessment suggests Iran has been denied close to $5 billion in oil earnings due to disruptions linked to US enforcement operations in the region

Trump says deadline for Congress to approve Iran war doesn't apply

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 .

US sanctions China-based crude oil terminal operator for trading Iran oil

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

Best of BS Opinion: India feels diplomatic squeeze from W. Asia conflict

From Iran diplomacy and artificial intelligence risks to Great Nicobar strategy and Pakistan policy, today's Best of BS Opinion highlights key strategic and economic debates shaping India's outlook

Iran has sent its latest proposal to US via Pakistani mediators: Report

The development follows Iran's absence from the last round of negotiations, held in Islamabad, aimed at ending the more than two-month-long conflict involving Iran, Israel and the United States

Oil falls as Iran proposes talks but prices still set for weekly gains

Brent's June contract hit $126.41 a barrel on Thursday, marking the highest level since March 2022, before ending the session down

May Day rallies worldwide call for peace, higher wages amid Iran war costs

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

Iran 'dying to make a deal': Trump calls conflict a 'military operation'

Trump's remarks came at a time when Iran threatened fresh strikes if the US resumed the war which has been paused since the warring sides agreed to a ceasefire on April 8

Trump admin says war in Iran has been 'terminated' before 60-day deadline

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

US House votes to end DHS shutdown as Senate grills Hegseth on Iran

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 ...

Iran's supreme leader vows to protect nuclear, missile capabilities

Iran's supreme leader vowed Thursday in a defiant tone to protect the Islamic Republic's nuclear and missile capabilities, which US President Donald Trump has sought to curtail through airstrikes and as part of a wider deal to cement the war's shaky ceasefire. In a statement read by a state television anchor, Ayatollah Mojtaba Khamenei said the only place Americans belonged in the Persian Gulf is "at the bottom of its waters" and that a "new chapter" was being written in the region's history. Khamenei has not been seen in public since taking over as supreme leader following the killing of his father in the war's opening airstrikes. His remarks come as Iran's economy is reeling and its oil industry is being squeezed by a US Navy blockade halting its tankers from getting out to sea. The world economy is also under pressure as Iran maintains its chokehold on the Strait of Hormuz, through which a fifth of all crude oil is transported. On Thursday, the global benchmark for oil, Brent ...

Best of BS Opinion: FinMin offers sobering view of macroeconomic risks

From rising oil-linked risks and services data gaps to gold loan expansion and global capital flows, here are the key insights from Business Standard's Opinion page

Iran conflict creates two-speed diesel market across Asian economies

Asia typically sources most of its diesel from plants within the region, which in turn rely on flows of crude from West Asia for a substantial share of their input

Rupee hits record low: Analysts flag 96-97 levels as oil, Fed stance weigh

Rupee hit a record low of 95.32 vs dollar on Thursday. Going ahead, analysts see further downside with 96-97 levels in focus as oil surge, FII outflows and hawkish US Fed weigh on outlook

Hezbollah adopts new weapon: Fibre-optic drones, used widely in Ukraine war

Hezbollah has launched a new weapon against northern Israel in the latest round of fighting: small drones controlled with fibre-optic cables the width of dental floss that avoid electronic detection. These drones - used widely in the war in Ukraine - are small, hard to track and potentially lethal. Many drones are susceptible to electronic jamming by air defences. Jamming can cause a drone to crash or return to its point of origin. But fibre-optic drones are not controlled remotely. They have a thin cable that connects an operator directly to the drone, making it impossible to electronically jam. The drones are not infallible because the wind - or other drones - can cause the cables to tangle. But, "if you know what you're doing, it's absolutely deadly", said Robert Tollast, a drone expert and researcher at the Royal United Services Institute in London, explaining how the drone can fly low and creep up on a target. Experts say militaries must either intercept the drones, which is

US shifted from 'managing world's energy' to 'disruption' strategy: IRGC

IRGC said that the disruption project was launched by the US to contain China, Russia and Europe

Asian shares fall as Brent crude hits 4-year high on Iran war fears

MSCI's broadest index of Asia-Pacific shares outside Japan slid 1 per cent on Thursday, but was still set for a 15 per cent gain this month

Putin offered to help US on Iran's uranium in potential nuclear deal: Trump

President Donald Trump said Russian President Vladimir Putin, during a phone call Wednesday, renewed his offer for Russia to serve as a third country that could deal with Iran's 970 pounds of enriched uranium that the US leader is demanding Tehran must surrender. "He told me he'd like to be involved with the enrichment - if he can help us get it," Trump said Putin told him. "I said, I'd much rather have you be involved with ending the war with Ukraine.' To me, that would be more important." Meanwhile, the Kremlin warned of dire consequences' if hostilities against Iran resume. Russian President Vladimir Putin discussed the Iran war in a phone call with Trump on Wednesday, with the Kremlin stressing the "dire consequences" if hostilities resumed. Speaking to journalists, presidential adviser Yuri Ushakov said that Putin had told the US president that a ground operation on Iranian territory would be completely "unacceptable and dangerous.

Pentagon pegs Iran war cost at $25 bn as Hegseth slams US Congress critics

During his first public appearance on Capitol Hill since the war began, the defence secretary lashed out at lawmakers in both parties who have questioned the conflict

Trump expresses 'disappointment' with Nato allies; lauds King Charles III

The King also reaffirmed support for Ukraine in its ongoing conflict with Russia, noting that enduring partnerships between Europe and North America are essential to maintaining global stability