Page 5 - Latest Updates on West Asia Conflict

Attacks on Iran likely to be short, says Trump; asserts Hormuz control

US President Donald Trump said renewed strikes on Iran would likely be short-lived as fresh fighting pushed up energy prices and revived concerns over a prolonged war

Oil prices edge lower as markets weigh renewed US-Iran supply risks

Brent crude fell 0.45% to $95.20 a barrel while WTI slipped 0.26% to $90.77 as investors weighed the risk of renewed US-Iran strikes disrupting West Asian supplies

Global stocks climb as investors watch US-Iran conflict, yen surges

Global stock indexes mostly rose after three days of declines, while the yen jumped sharply and US Treasury yields eased as investors tracked the latest developments in the US-Iran conflict

India, Iran not discussing trade deal, says Rubio on Modi-Pezeshkian meet

US Secretary of State Marco Rubio on Wednesday said he did not think India and Iran were talking of a trade deal, and many countries around the world talk to the regime in Tehran. Rubio's remarks came during an interview on The Brian Kilmeade Show on Fox News Radio in response to a question on the meeting Prime Minister Narendra Modi had with Iranian President Massoud Pezeshkian on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit in Bishkek. "Well, I don't think there's a trade deal between India and Iran. Obviously, there are countries all develop their own foreign policy, and many countries around the world talk to the Iranian regime," Rubio said in response to a remark by Kilmeade that Modi and Pezeshkian appeared to set up a trade deal. "I mean, we've met with elements of the Iranian regime as well, in terms of some of these discussions that have occurred and there's been contact with them," Rubio said. The US Secretary of State said President Donald Trump h

US CENTCOM completes 'wave of strikes' against Iranian military targets

Sharing the details in a post on X, CENTCOM said, "U.S. forces struck Islamic Revolutionary Guard Corps (IRGC) targets including air defence sites, radar systems, maritime assets and facilities

Oil prices rise as US-Iran fighting renews fears of supply disruptions

Brent crude rose 0.6% to $91.05 a barrel as renewed US-Iran fighting raised concerns over supply from the Middle East, the world's key oil-producing region

UAE intercepts Iranian drone over territorial waters after US strikes

The United Arab Emirates' air force intercepted an Iranian drone over its territorial waters Monday, the Defense Ministry said, an attack that comes after the US and Iran exchanged fire on the weekend, the first significant military action in a month. In a short statement, the Defence Ministry said it "dealt with" an Iranian drone that was detected over its waters approaching from Iran. There were no immediate claims of responsibility from Tehran nor any reports of damage. The UAE Defence Ministry later issued a second statement denying the Al Menhad Air Base in Dubai had been targeted by Iranian missiles, as had been reported by Iranian media outlets. The incident came after US forces on Sunday struck Iranian rocket launchers on an Iranian island, breaking a lull in fighting in the war that has lasted more than six months. Iran responded by launching missiles at US sites in Jordan, which were intercepted. Early Monday, Iran's Foreign Ministry said that Iran would "not hesitate to

Asian shares slide as US-Iran fighting lifts oil; rate hike bets rise

Asian stocks fell as renewed US-Iran fighting pushed Brent crude above $90 a barrel, while hawkish Fed signals lifted bets on a September rate hike

Oil prices jump more than 2% after US attack on Iran's Larak island

Brent crude futures climbed $2.51, or 2.85 per cent, to $90.61 a barrel as of 0241 GMT ‌while US West Texas Intermediate crude was at $85.53, up $2.13, or 2.55 per cent

Iran's supreme leader urges Muslim nations to unite against US, Israel

Iran's supreme leader called on Muslim countries to stand together against Israel and the United States. Ayatollah Mojtaba Khamenei urged rulers of Muslim nations to "know your real enemy, understand its plans and confront it," and called the US and Israel enemies of all Islamic nations, the official IRNA news agency reported. Six months after the US and Israel attacked Iran, killing Khamenei's father and other senior leaders, Khamenei still has not been seen publicly. His comments came in a letter to religious leaders attending a conference in Tehran. The war has exposed divisions in the Muslim world after Iran struck targets in neighbouring Gulf Arab countries and restricted shipping through the Strait of Hormuz. Tehran has opposed the US military presence in the region.

US plans to sanction another bank over Iran transactions, says Bessent

The Trump administration plans to impose sanctions on another bank this week in an effort to clamp down on Iran transactions, Treasury Secretary Scott Bessent said Sunday. Bessent spoke with The Associated Press ahead of Group of 20 meetings in Asheville, North Carolina, where he will meet individually with his counterparts from the world's major and developing economies to encourage participation in the economic isolation of Iran. "This is going to be financial violence if we have to," Bessent said in the interview. "We are showing people that we know who you are, you know who you are, and this has got to stop." Bessent had recently announced a new campaign to push countries that still do business with the already heavily sanctioned Islamic Republic to sever their financial ties or face retaliation from the United States. Treasury's first official action in this campaign was a proposed rulemaking on Friday, which would, if finalized, sever the Emirati branches of Banque Misr, Egyp

Iran launches missiles on two US bases in Jordan after attack in Larak

US Central Command said that the blockade remains in place against Iran and, as of Sunday, they have redirected 83 commercial vessels, disabled 3 and boarded 2 to ensure compliance with the blockade

US strikes Iranian rocket launchers in first military action in weeks

US forces struck Iranian rocket launchers on the Strait of Hormuz in their first military action in a month on Sunday, breaking a lull in fighting during an intermittent war that has lasted more than six months. Iran swiftly vowed to retaliate for what it called a deadly attack. Forces with the Revolutionary Guard Corps were observed preparing to launch rockets with sea mines into the strait, according to Tim Hawkins, a spokesperson for the US Central Command. The US military last week completed clearing sea mines from the strait's international shipping routes. Semiofficial news outlets in Iran reported sounds of explosions near Larak island on the strait. The Guard in a statement carried by Iran's state broadcaster noted "the martyrdom and injury of several of our fighters and compatriots." A return to open conflict would be dangerous for the region, where Iran has targeted US military bases and infrastructure in Gulf countries since the war began on February 28. The last time th

Hormuz crisis adds $22 bn to India's fossil fuel import costs: CREA

In terms of economic impact, India's net additional cost across all fossil fuels was estimated at $14.4 billion, equivalent to 0.38 per cent of its GDP, or about 1.4 days of national income

India, China can help resolve West Asia conflict, says Hillary Clinton

India and China could be among key players who could contribute to resolving the West Asia conflict if US President Donald Trump wants to use "diplomacy instead of bluster", said former Secretary of State Hillary Clinton. Talking about the conflict, Clinton, in an interview with C-SPAN, said: "The misconceptions on a strategic level have led us to where we are." The conflict began on February 28 when the US and Israel launched a joint attack on Iran, triggering retaliatory strikes. It also led to the choking of the vital Strait of Hormuz. In June, the US and Iran signed an interim peace agreement, but it collapsed last month with fresh strikes from both sides. "If you want to figure out how Trump could get out of this. I think the key to it is probably China and India, because if you look at who buys the most oil and gas from Iran, it's China and India," said Clinton on Monday. Pakistan, Oman and Qatar are among countries trying to mediate between the US and Iran to end the conflic

Indian rice exporters see Iranian demand defying US sanctions risk

Rice dominates trade between the two countries, accounting for nearly two-thirds of India's $1.25 billion in exports to Iran in the fiscal year-ended March

4 India-based companies in US sanctions dragnet over Iran oil imports

The US has sanctioned four India-based companies for importing petroleum and petrochemical products from Iran, according to a press release by the US State Department. US Treasury Secretary Scott Bessent on Monday announced 'Operation Economic Outcast', which essentially involved new sanctions that aim to block all potential sources of revenue for Iran. The US has also told countries to cut economic ties with Tehran or face retaliation. Bessent described it as an unprecedented campaign to sever Iran's financial lifelines. It broadens the risk of secondary sanctions for entities - which can be countries, businesses or organisations - continuing to do business with Tehran. Among the four "India-based companies" facing action is a customs broker identified as Portease Partners LLP and its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi. They facilitated the import of multiple shipments of Iranian petrochemical products, the State Department said in the release on ...

Dozens of Chinese, Hong Kong firms hit by Trump admin's Iran sanctions

US Treasury Dept unveiled a package targeting dozens of individuals and entities as part of what Treasury Secy Scott Bessent described as Operation Economic Outcast

US attempt to strangle Iran's economy depends on China's cooperation

The US has spent 20 years promising 'crippling sanctions' on Iran. But the latest effort comes with a reverse twist, after military action failed to accomplish President Trump's goals

Iran vows retaliation as US expands sanctions, threatens economic lifeline

US Treasury Secy Scott Bessent unveiled measures but stopped short of the most punishing sanctions, saying countries that continued trading with Iran risked being forced out of dollar system