Page 2 - War Conflict

Last-ditch diplomacy: Inside US-Iran plan to freeze West Asia war for 45 days

US and Iran are exploring a 45-day ceasefire through back-channel diplomacy to prevent further escalation in West Asia, stabilise oil markets and ease pressure on global shipping routes

Iran calls on public to find 'enemy pilot' as US continues frantic search

The US military pressed ahead Saturday in a frantic search for a missing pilot over a remote area in southwestern Iran, a day after the Islamic Republic shot down a US warplane and promised a reward for whoever turns in the pilot. The plane, identified by Iran as a F-15E Strike Eagle, was one of two attacked Friday, with one service member rescued and at least one missing. It was the first time the United States lost aircraft in Iranian territory during the war, now in its sixth week, and could add to pressure on the Trump administration to end the fighting. The war, which began with joint US-Israel strikes on Feb 28, has killed thousands, shaken global markets, cut off key shipping routes and spiked fuel prices. It shows no signs of slowing as Iran responds to ongoing airstrikes with attacks across the region. The downing of the American planes came two days after US President Donald Trump said in a national address that the United States has "beaten and completely decimated Iran."

Iran open to peace talks as search continues for missing US pilot

The incidents show the risks still facing US and Israeli aircraft over Iran, despite assertions by Donald Trump and his Defense Secretary Pete Hegseth that US forces had total control of the skies

West Asia crisis may hit India exports if conflict persists: Rajesh Agrawal

If the West Asia conflict continues, India's exports to other parts of the world will also be impacted, Central Commerce Secretary Rajesh Agrawal said on Saturday. Indian exports during the last financial year were expected to remain on a positive trajectory despite the crisis, he added. Addressing a press conference on the sidelines of 'Chintan Shivir - Scaling Up Pharma Exports', Agrawal said that because of the West Asia crisis, there was definitely an impact last month on both imports and exports, as energy is a major part of the Indian import market. "West Asia is also an important market. Around 12-13 per cent of our exports go to the region. So, that will directly get impacted. And if it goes on for long, maybe our exports to other parts of the world will also get impacted as some of the value chains will rotate back. We are cognizant of it," the official told reporters. Replying to a query, he said the exact impact of the West Asia crisis on Indian exports will be known in

Govt advises against panic buying, says fuel supplies adequate

The government on Saturday urged citizens to avoid panic buying of petrol, diesel and LPG, saying fuel supplies remain adequate despite disruptions linked to the closure of the Strait of Hormuz. The Ministry of Petroleum and Natural Gas said the government is taking proactive steps to ensure the uninterrupted availability of petroleum products and cooking gas, while advising people to rely only on official information and conserve energy. The government has prioritised domestic LPG and piped natural gas (PNG) supplies, particularly for households, hospitals and essential services, and has implemented measures to boost refinery output and manage demand, including extending LPG refill intervals. Authorities have also stepped up enforcement against hoarding and black marketing, conducting more than 3,700 raids and issuing around 1,000 show-cause notices to LPG distributors, with 27 dealerships suspended so far. Despite supply pressures from the geopolitical situation, there are no ...

Foreign Secretary Vikram Misri attends UK-led meet on reopening Hormuz

No talks with Iran on payments for Indian ships to transit via Hormuz: MEA

RBI's rupee challenge: Policymakers should not be swayed by absolute levels

While the war is affecting macroeconomic dynamics in various ways, requiring intervention, economic management has become significantly complex for the Reserve Bank of India (RBI)

Indian drugmakers may lose up to $750 million if Iran war drags on

Indian pharmaceutical companies may face losses of up to $750 million if the West Asia conflict continues, amid supply chain disruptions and rising logistics costs

India bulks up Russia oil imports; Gulf flows ebb as tensions rise

Furthermore, Angola has emerged as one of the biggest crude oil suppliers to India amid attempts to source from West Asian alternatives

Clouded year ahead: Economic conditions have changed since February 1

Multiple sectors will come under pressure, complicating the government's plans for the year

Oil shock concludes FY26 amid record gold, silver gains as volatility rises

The oil crisis is unfolding amid record global debt, fragile supply chains, and emerging market volatility

Retail portfolio quality improves in Jan; war impact under watch: Cibil CEO

Lenders must engage with customers on credit usage, as they did during the pandemic: Bhavesh Jain

India's fuel exports drop amid European Union sanctions, West Asia war

Latest sanctions by EU banning imports of fuels made from Russian crude oil from January has hurt India's sales, say industry sources

Inflation dynamics: Ongoing Iran conflict will complicate policy choices

Research has shown that both the inflation rate and volatility moderated after the adoption of the flexible inflation-targeting framework

India's fuel supply remains robust despite West Asia crisis: Suresh Gopi

Union Minister of State Suresh Gopi on Saturday said that the country's fuel supply chains are "robust and operational" despite the situation in West Asia. Gopi, the Minister of State for Petroleum, Natural Gas and Tourism, said, in a Facebook post that the recent panic buying seen in some regions were fueled by "false narratives" and "unnecessary alarm". "Chaired a high-level review meeting with representatives from IOCL, BPCL, and HPCL at Thrissur to address the recent narratives regarding fuel shortages. Despite global challenges and the situation in West Asia, our supply chains are robust and operational." "The panic buying we've seen in some regions are being fueled by false narratives and unnecessary alarm," he said in his post. He urged everyone not to fall prey to social media misinformation. "Stay Calm. Stay Informed. Trust only verified sources," he said.

West Asia crisis hits LPG supply across parts of Jubilant's network

Jubilant FoodWorks Ltd on Saturday said supply of LPG cylinders to certain parts of its store network has been constrained due to the geopolitical situation in West Asia. The company, which operates fast-food chains, including Domino's Pizza and Dunkin' Donuts, said it is taking several steps to conserve LPG and working overtime to move to alternate energy sources like electricity and piped natural gas (PNG). "...we wish to inform that due to the ongoing geopolitical situation in the Middle East, there are supply constraints on the distribution of commercial LPG across the country," Jubilant FoodWorks Ltd (JFL) said in a regulatory filing. Consequently, JFL said, "The supply of LPG cylinders to certain parts of the company's store network has been constrained." Operational impact at this stage is limited and being actively managed, it added. The company further said it is "taking several steps to conserve LPG and working overtime to move to alternate energy sources like electricity

Rajnath Singh to chair first informal GoM meet on West Asia crisis

The meeting comes amid multiple meetings held by the Centre on the ongoing conflict and assuring people that there is no shortage of fuel

West Asia conflict: Bankers suggest Covid-like moratorium for MSMEs

Flag cash-flow risks to RBI, Centre amid West Asia war

Energy crisis: Let prices adjust for a sustainable long-term solution

The cost of the Indian basket, however, has increased more sharply to over $156 per barrel due to disruptions in supplies from West Asia

Fertiliser output may fall 10-15% if West Asia crisis persists: Crisil

India's annual domestic output of urea and complex fertilisers is likely to decline by 10-15 per cent due to supply chain disruptions caused by the ongoing conflict in the Middle East, a Crisil Ratings report said on Thursday. "The ongoing issues in the Middle East could disrupt the fertiliser supply chain at a crucial time for the kharif season. Disruption in LNG and ammonia supplies continuing for about three months could cut domestic urea and complex fertiliser production by 10-15 per cent," Crisil Ratings Director Anand Kulkarni said. However, he said the impact on production will be cushioned to some extent by the recent government directive allocating 70 per cent of gas to urea manufacturers. He added that the fertiliser inventory of around three months, along with expected imports from alternative sources, will mitigate the risk of immediate supply shortages. Further, Crisil Ratings said the increase in prices of raw materials and imported fertilisers is likely to increase .