Page 45 - Israel Iran Conflict

'Premature to say anything': MEA on Iran allowing ships via Hormuz

The statement came hours after reports emerged that Iran agreed to allow oil tankers flying the Indian flag to pass through the Strait following diplomatic discussions between New Delhi and Tehran

VOC Port sets aside 90,000 sq m space for containers amid West Asia crisis

VOC Port Authority has made an arrangement of additional 90,000 square meter of space for shipping lines to keep their containers in the wake of the ongoing West Asia crisis, its Chairman Susanta Kumar Purohit said on Thursday. The official made the remarks while replying to a question on the sidelines of PHDCCI conference on shipbuilding and ship recycling. "We have given additional land to our customers where they can keep their goods safely beyond the time limit," Purohit said, sharing preparations made to deal with the situation of container diversions. However, the land remains unutilised as of now as operations and business at the port have not been affected, he said. He said all major ports are in constant touch of the Ministry of Shipping, terminal operators and shipping lines. Speaking further, the Chairman said the government is taking efforts to develop India as a hub of shipbuilding and ship recycling. The move will help save resources and increase availability of raw

Invading our islands will make Gulf run with blood: Iran Parliament speaker

Iran's parliament speaker said Thursday that any invasion of Iran's islands will "make the Persian Gulf run with the blood of invaders." It wasn't immediately clear what prompted Mohammad Bagher Qalibaf's comments, which again escalated the rhetoric surrounding the ongoing Iran war. Iran holds three islands it took from the United Arab Emirates before its formation in 1971. There also has been speculation that the United States could target Kharg Island in the Persian Gulf, Iran's main oil terminal.

LPG shortage may hurt food delivery order growth in Q4FY26: Motilal Oswal

LPG supply disruption could slow Zomato and Swiggy order volumes as restaurants cut operations. Motilal Oswal expects a temporary impact on food delivery growth

As Iran's war expands, how Europe shaped today's West Asia conflicts

After the Ottoman Empire collapsed in World War I, European powers redrew West Asia's map through secret deals and mandates, creating borders and tensions that still shape the region today

Iran war: How IEA reserves, and Opec output shape the global oil market

As the IEA prepares its biggest-ever oil reserve release in the wake of the Iran war, here's a look at the countries that produce crude and the role of blocs such as Opec and Brics

How persistently high oil prices could impact India's vulnerable economy

The most immediate impact would be on India's current account deficit. This concern has pushed the rupee to a record low and forced the central bank to sell dollars from its reserves

LPG supply shortage hits businesses; eateries switch to wood stoves

LPG supplies are tightening across cities, with long delivery delays and limited stock; restaurants and households in several cities are facing shortages

LPG crisis hits food deliveries, gig workers union seeks ₹10,000 relief

Gig worker union flags sharp fall in food delivery orders as LPG shortages shut restaurants and cloud kitchens, seeks ₹10,000 relief for workers and an urgent meeting with government

'Remain silent or be targeted': IRGC enforces strict no-move zone in Hormuz

In a post on X, state broadcaster Press TV shared a documentary showing Persian Gulf vessels at risk of IRGC targeting for minor movements, highlighting tensions in the Strait of Hormuz

West Asia war digest, March 12: Stories tracking the economic fallout

From fuel supplies and gas shortages to markets, industry, diplomacy and seafarers, here's Business Standard's coverage tracking the impact of West Asia war in India

China orders immediate ban on fuel exports to prevent domestic shortage

The halt applies to cargoes that had yet to clear customs as of March 11 and goes beyond last week's move by Beijing urging refiners not to agree to new exports

Iran clears Indian-flagged tankers to transit Strait of Hormuz: Sources

Iran will allow Indian-flagged oil tankers to pass through the Strait of Hormuz after talks with External Affairs Minister S Jaishankar, sources said

Iraq shuts down oil ports after attack on marine vessels near its waters

Ships remain in the waiting area, and loading and unloading are ongoing at the North and South Um Qasr ports

US, Israel strikes on Iran raise alarm over damage to historic sites: UN

US and Israeli strikes on Iran have damaged at least four cultural and historical sites, including palaces and an ancient mosque, raising alarms about the impact of the widening war on protected landmarks that are important to Iranian identity and world history. The speed and extent of the damage have so concerned Iran and Lebanon that they sent a request to the United Nations' cultural agency, UNESCO, this week to add more sites to its enhanced protection list. UNESCO confirmed that it has verified damage to the lavish Qajar-era Golestan Palace in Tehran as well as the 17th century Chehel Sotoun palace and the Masjed-e Jame, the country's oldest Friday mosque, both in Isfahan. There also was verified damage at buildings close to the Khorramabad Valley, which includes five prehistoric caves and one rock shelter providing evidence of human occupation dating to 63,000 B.C. At Golestan Palace, shattered glass from the mirrored ceilings blanketed the floors alongside broken archways, ..

Ships must seek nod to cross Hormuz, warns Iran's Revolutionary Guards

IRGC Navy chief Alireza Tangsiri said vessels crossing the Strait of Hormuz must obtain Iran's permission, criticising ships hit in recent attacks and dismissing US escort assurances

Indian killed in Iranian 'suicide' boat attack on tanker in Iraqi waters

An Indian national has reportedly been killed in an attack carried out by Iran using a "suicide" boat against a US-owned oil tanker near Iraq. US-owned and Marshal Island-flagged oil tanker Safesea Vishnu was attacked off Khor Al Zubair port inside Iraq's territorial waters by an Iranian "suicide" boat, sources told PTI. An Indian national, whose name is being withheld at the moment, has reportedly been killed in the attack while the remaining 27 crew and personnel on the oil tanker have been rescued and taken to Basra, the sources said. Sources close to Safesea, speaking on condition of anonymity, said the company is devastated to learn of the loss of the Indian national in the attack. They have called for the Indian government to strongly condemn the attack and take urgent action to ensure safety of crew onboard ships in the region amid the escalating West Asia conflict. The sources voiced concern that as Indians constitute over 15 per cent of the seafarers globally, irrespectiv

Iran war exposes vulnerabilities for airlines in global aviation network

Global airlines have seen billions of dollars wiped from their market capitalisation on the surging cost of fuel and uncertainty about when safe operations can resume

Cooking gas crunch in India fuels inflation fear as Iran war widens

The gas crunch is rippling through the economy, raising fears about a spike in prices and a drop in output in some sectors

West Asia war updates: Brent above $100; US releases oil from reserves

Oil prices surged above $100 a barrel after tanker attacks near the Strait of Hormuz raised supply concerns; here are the top updates at 9 am (IST)