The global energy market has been transfixed by the conflict between Israel and Iran, including the possibility the US may decide to join the assault
Prime Minister Narendra Modi Sunday left for home after wrapping up his two-day "successful" visit to Kuwait during which the two countries elevated their relationship to a strategic partnership, marking a new era of bilateral cooperation and growth. "A historic & successful visit to Kuwait concludes! PM @narendramodi emplanes for New Delhi," Ministry of External Affairs Spokesperson Randhir Jaiswal said in a post on X. Modi's visit to Kuwait was the first by an Indian Prime Minister to the Gulf nation in 43 years. During his visit, Modi held extensive talks with the country's top leadership, including Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, with whom he discussed boosting ties in information technology, pharmaceuticals, fintech, infrastructure and security. "In line with the close ties between our nations, we have elevated our partnership to a strategic one and I am optimistic that our friendship will flourish even more in the times to come," Modi said in a post on X. Modi
The fragmentation will not be permanent, but for now it's making it tougher for import-dependent nations like India and South Korea to diversify their sources of oil supply
The vessel sank 30 miles (48.3 kilometers) off the Iranian coast
Iranian authorities have accused Israel of "inducing panic" in the Persian Gulf while rejecting the country's claim that Tehran was involved in a blast aboard an Israel-owned ship last week
US aviation regulator FAA has also asked all US airlines to stop operating in the airspace over Iraq, Iran, and the waters of the Persian Gulf and the Gulf of Oman
The vessel -- the third foreign ship seized by the guards in the Gulf since July 14 -- is suspected of smuggling a large volume of fuel
Japan, India and South Korea would be some of the most vulnerable economies to a Persian Gulf war due to their heavy dependence on the region's crude
The two ships, backed by surveillance aircraft, will not be part of a military coalition that the United States is assembling to safeguard the waters off Iran near the Straits of Hormuz
Navy ships have been escorting Indian-flagged vessels in and out of the Persian Gulf and the Gulf of Oman.
Saudi Crown Prince Mohammed is attempting to do top-down what at least some of the Iranian protesters are trying to do bottom-up