Page 5 - Latest Updates on West Asia Conflict

FM Nirmala Sitharaman flags 3 Fs: Fuel, fertiliser, foreign exchange

Says West Asia crisis bringing several uncertainties for businesses, common people

India turns to Latin America, Africa for crude oil amid West Asia crisis

In April and May, Indian refiners raised imports from Venezuela, Brazil, Angola and Nigeria to make up the shortfall, as well as continuing to buy Russian oil

Trump says US-Iran deal will be meaningful or there will be no deal

Iran and ​the United States have played down ​hopes for an imminent breakthrough in efforts to end ​their three old war on Monday

US making progress with Iran on Hormuz, but Trump remains cautious: Rubio

The US has made significant progress in negotiations with Iran to reopen the Strait of Hormuz, but President Donald Trump is maintaining a cautious approach and will not accept a bad deal, Secretary of State Marco Rubio said on Monday. The remarks by the US Secretary of State, currently on a four-day trip to India, came amid indications that the US and Iran are looking at a preliminary deal to reopen the shipping lane before hammering out a comprehensive peace agreement. "Work is still in progress. We thought we might have some news last night, maybe today," he told a small group of reporters before leaving for Agra. "So we have what I think is a pretty solid thing on the table in terms of get the Strait open, enter into a very real, significant time-limited negotiation on the nuclear matters and hopefully we can pull it off," Rubio said The US Secretary of State said there has been global support for the ongoing efforts to end the conflict in West Asia, but added that the road to

Rupee rises 40 paise to 95.20 against US dollar on hopes of Iran peace deal

The rupee appreciated 40 paise to 95.20 against US dollar in early trade on Monday on optimism that the US and Iran were moving close to a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz. Forex traders said the rupee opened on a positive note as the US and Iran have "largely negotiated" a peace pact to end the nearly three-month war. US President Donald Trump has told the negotiators "not to rush into a deal" and that "both sides must take their time and get it right". Moreover, US Secretary of State Marco Rubio said the US and India are on the verge of finalising an interim trade agreement after progress in negotiations with the US Trade Representative to visit India very soon. At the interbank foreign exchange market, the rupee opened at 95.36 against the US dollar, then touched 95.20 in early trade, up 40 paise from its previous close. On Friday, the rupee rose 75 paise to close at 95.60 against the US dollar. "The trad

'Not going to make bad deal': Rubio says Iran pact still 'work in progress'

Highlighting that the negotiations have good faith and support among the Gulf partners, the US Secretary of State called it the 'right thing for the world to get done'

Oil falls 6% to two-week low as US-Iran seen moving closer to peace deal

Brent crude futures fell $5.85, or 5.7 per cent, to $97.69 ‌a barrel by 0343 GMT, while US West Texas Intermediate were at $90.85 a barrel, down $5.75, or 6 per cent

Asian shares rise, oil dips after Trump says Iran talks progressing

Asian shares mostly rose Monday and oil prices plunged after US President Donald Trump said talks on ending the war with Iran are progressing. Japan's benchmark Nikkei 225 surged 3.1 per cent in morning trading to 65,321.56. Australia's S&P/ASX 200 added 0.4 per cent to 8,692.70. The Shanghai Composite edged up 0.4 per cent to 4,127.53. Trading was closed in South Korea and Hong Kong for holidays marking Buddha's birthday. Trading will be closed in the US on Monday for Memorial Day. Trump said negotiations with Iran were "proceeding in an orderly and constructive manner." Meanwhile, regional officials told The Associated Press on Sunday that the United States is close to reaching a deal with Iran that would end the war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium, Reopening the Strait of Hormuz will help decide the direction of oil prices. The closure has prevented oil tankers from exiting the Persian Gulf and delivering crude to ...

How West Asia conflict has turned Diet Coke into a rare commodity

Hormuz disruption has hit aluminium supply, triggering Diet Coke shortages in India as bars host themed parties and cola raffles amid a brutal heatwave with temperatures nearing 49 degrees Celsius

Five main issues yet to be resolved in possible US-Iran peace deal

President Trump says the US and Iran could be close to a peace deal; big issues at stake include the fate of Iran's nuclear program and reopening the Strait of Hormuz

To get Hormuz open, Trump had to leave the hardest issues for later

President Trump is hailing the agreement with Iran as groundbreaking, even as he admits it "isn't even fully negotiated." But the nuclear stockpile, enrichment and missiles have not been discussed

Any Iran deal will involve no cash, differ from Obama-era agreement: Trump

Trump criticised the Obama-era Iran nuclear deal and claimed his proposed agreement would prevent Tehran from obtaining nuclear weapons

Trump's emerging Iran deal faces backlash from hardline Republicans

President Donald Trump's emerging deal to end the Iran war is drawing heavy criticism from some fellow Republicans who favour a harder line against the government in Tehran and fear a lost opportunity to finally rein in a longtime Mideast nemesis. The deal the Republican president had said was "largely negotiated" has left a range of lawmakers, former Cabinet members and conservative analysts wondering aloud whether the terms as currently known will render the conflict all "for naught." Sen. Ted Cruz, R-Texas, said the president's decision to strike Iran was the "most consequential" of his second term and that he should not let up now. "If the result of all that is to be an Iranian regime - still run by Islamists who chant 'death to America' - now receiving billions of dollars, being able to enrich uranium & develop nuclear weapons, and having effective control over the Strait of Hormuz, then that outcome would be a disastrous mistake," Cruz wrote Saturday on the social media ...

US-Iran deal may reopen Hormuz during 60-day ceasefire extension: Report

According to the Axios report, during the 60-day period, the Strait of Hormuz would be open with no tolls and Iran would agree to clear the mines it deployed in the strait to let ships pass freely

Many questions, few details in Trump's latest Iran peace proposal

It is too early to tell what exactly Trump and Iran have agreed to, or if they have agreed to much at all

Trump says Iran deal 'largely negotiated,' including reopening of Hormuz

"Final aspects and details of the Deal are currently being discussed, and will be announced shortly," Trump wrote on Truth Social

British navy prepares to clear mines in Hormuz while waiting for peace deal

Aboard the RFA Lyme Bay docked off the coast of Gibraltar, hundreds of British sailors are waiting to be deployed for a mine-clearing mission to the Strait of Hormuz that is still in doubt. US President Donald Trump has lashed out at allies for not doing more to support the United States' war effort in Iran, whose chokehold on the strait has crippled international shipping and sent energy prices soaring. In March, Trump told NATO allies to "go get your own oil" and secure the strait themselves. On the southern tip of the Iberian Peninsula, in the British Overseas Territory of Gibraltar, the UK's Royal Navy is preparing to do that -- but only once a peace agreement is reached. Trump said Saturday that a deal with Iran has been "largely negotiated" after calls with Israel and other allies in the region, but it still needs finalising. Britain's Armed Forces Minister Al Carns took a small group of reporters to visit the RFA Lyme Bay as it prepares for a possible international operation,

Asim Munir, Iran foreign min hold talks in Tehran to end West Asia conflict

Pakistan's Army chief Field Marshal Asim Munir has held talks with Iran's Foreign Minister Abbas Araghchi to end the West Asia conflict and establish lasting peace in the region, the Iranian government said on Saturday. Munir flew to Tehran on Friday for a crucial visit to expedite efforts for a peace deal between the US and Iran, said the Pakistan Army, adding that the visit was "part of ongoing mediation efforts". Munir was received in Tehran by Iran's Interior Minister Eskandar Momeni. Meanwhile, Pakistan's Interior Minister Mohsin Naqvi -- believed to be close to Munir -- was already in Tehran and engaging in talks with top Iranian officials when the field marshal arrived, according to the Army. According to a statement posted in social media by Iran's government, Munir met Araghchi in Tehran to "discuss diplomatic efforts aimed at preventing further escalation and promoting peace, stability, and security in West Asia". Iran's state-run IRNA news agency reported that talks bet

What if Strait of Hormuz doesn't reopen and global oil shock deepens?

Nearly 90 days since the US-Israeli war on Iran all but closed the oil-and-gas sea route, it's worth considering what seems unthinkable but has happened elsewhere before

Arab countries seek Iran peace agreement as ceasefire remains fragile

While there were indications of progress in talks to end the conflict, Axios and CBS News reported that Trump was preparing for a possible fresh round of strikes