Page 8 - Latest Updates on West Asia Conflict

US announces 'Project Freedom' to escort stranded ships through Hormuz

US President Donald Trump said the US Navy will start guiding foreign stranded ships to safety through the Strait of Hormuz from Monday and warned Iran that any interference in the process would be dealt with forcefully. In a post on Truth Social, Trump said 'Project Freedom' was aimed at helping foreign ships that are locked up in the Strait of Hormuz as "innocent bystanders" and in no way involved in the developments in West Asia. Trump said several of these ships were running low on food, drinking water and everything else necessary for large-scale crews to stay onboard in a healthy and sanitary manner. At the same time, the US President said that his representatives were having positive discussions with Iran, which could lead to something "positive for all". The Strait of Hormuz, the narrow sea route between Oman and Iran that transports one-fifth of the global oil supplies, has been effectively closed since February 28, when the US and Israel launched the war with Iran. The U

Cutting Sensex, Nifty targets now is premature: Harendra Kumar, Elara Capital

Data has shown that on falling market days, retail investors were net buyers, and on rising days, they were net sellers. So, the idea that they are always disadvantaged is a misnomer, Kumar said.

Airlines scramble to help stranded Spirit flyers after carrier collapses

Spirit Airlines ceased operations on Saturday following a doubling in jet fuel prices due to Iran war

Iran sends new proposal to US; US President Donald Trump warns of strikes

Asked if he might restart strikes on Iran, Trump replied: "I don't want to say that. I mean, I can't tell that to a reporter. If they misbehave, if they do something bad, right now we'll see"

UK sets out fuel contingency plans for flights amid US-Iran conflict

Airlines will be expected to consolidate schedules on certain routes with multipleflightsto the same destinationon the sameday as part of contingency measures the UK government announced on Sunday. The Department for Transport (DfT) issued a series of temporary plans amid ongoing jet fuel supply issues caused by the US-Iran conflict and the blockade of the Strait of Hormuz. It stressed that while UK airlines say they are not currently facing supply issues, the government is stepping in to protect travellers from the likelihood of last-minute flight cancellations over the upcoming summer holiday period in the event of significant disruption caused by the conflict. "Since the closure of the Strait of Hormuz, the government has been monitoring jet fuel supplies daily and working with airlines, airports and fuel suppliers to stay ahead of any problems," said UK Transport Secretary Heidi Alexander. "There are no immediate supply issues, but we're preparing now to givefamilies long-term

Trump reviews Iran's new proposal, says deal unlikely to be acceptable

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

India should build strategic buffers for energy shock: CEA Nageswaran

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

US warns shipping firms of sanctions over paying Iranian tolls in Hormuz

The United States is warning shipping companies that they could face sanctions for making payments to Iran to safely pass through the Strait of Hormuz. The alert posted Friday by the US Office of Foreign Assets Control adds another layer of pressure in the standoff between the US and Iran over control of the Strait of Hormuz. About a fifth of the world's trade in oil and natural gas typically passes through the strait at the mouth of the Persian Gulf in peacetime. Iran effectively closed the strait to normal traffic by attacking and threatening to attack ships after the US and Israel launched a war on Feb. 28. It later began offering some ships safe passage by detouring them through alternate routes closer to its shoreline, charging fees at times for the service. That "tollbooth" effort is the focus of the US sanctions warning. The payment demands could include transfers not only in cash but also "digital assets, offsets, informal swaps, or other in-kind payments," including ...

Trump prefers not to strike Iran even as frustration over talks mounts

Speaking in Florida, Trump said, 'Maybe we're better off not making a deal at all,' without elaborating, he added, 'we can't let this thing go on'

India-linked LPG tanker attempts Strait of Hormuz exit amid energy crisis

Marshall Islands-flagged Sarv Shakti - laden with around 45,000 tons of LPG, commonly used as cooking fuel - appeared to move northward through the waterway

Iran 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'

Centre 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

Gulf, Europe would have been blown to pieces: Trump on Iran nuclear threat

He also said that Iran's military capacity had been significantly degraded, with the claim that the Iranian leadership had been weakened

'Rats in sewer pipe': US Treasury Secy Bessent slams Iranian leadership

Bessent also said that a blockade will continue till a 'Freedom of Navigation' is achieved in Strait of Hormuz

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