Page 3 - West Asia And The Gulf

IRGC seizes two vessels in Strait of Hormuz, cites 'red line' breach

Iranian news agencies, citing an official statement from the IRGC Navy, said the vessels MSC Francesca and Epaminondas were seized and redirected towards Iranian territory

LPG reliance highlights gaps in India's piped gas expansion drive

India's dependence on LPG imports and slow expansion of piped gas networks highlight policy gaps, affordability challenges, and consumer behaviour issues hindering a transition to cleaner cooking fuel

Domestic production of oil, gas ramped up amid West Asia crisis: RBI Guv

The current crisis in West Asia significantly impacts India, as the region accounts for approximately one-sixth of the country's exports, half of its crude oil imports, and nearly two-fifths of the inward remittances, Reserve Bank of India (RBI) Governor Sanjay Malhotra said. During his address at Princeton University on April 18, 2026, the governor highlighted that the Indian economy has demonstrated resilient growth over the past decade, supported by robust policy frameworks, financial stability, and sound fiscal policies. He noted that, in response to the ongoing crisis, India is increasing its domestic production of oil and gas. "Sources of imports are being diversified. While there is no shortage of oil, given the reserves maintained by us, there is some rationing of gas for industrial purposes," he said. Malhotra emphasised that while oil marketing companies and the government have absorbed some of the price pressures in oil, a portion of the pressures on gas prices has been .

Iran reviewing US proposals, says Hormuz curbs to stay till war ends

Iran on saturday said that it is reviewing new proposals put forward by the US. Iran's Supreme National Security Council said in a statement that Pakistan's army chief Asim Munir, serving as an intermediary, presented the proposals to Iran when he recently visited Tehran, and they were still under review. It was not revealed what was in the proposals. The council said Iran has yet to respond, but further talks would require the US to abandon "excessive demands and adjust its requests to the realities on the ground." It also said that Iran will maintain full control over traffic through the Strait of Hormuz until "the war fully ends and lasting peace is achieved in the region," adding that it would collect detailed information on passing vessels, issue transit certificates and impose tolls. The council added that it considered the US naval blockade a violation of the ceasefire, and there would be no reopening of the Strait of Hormuz until that was lifted. Meanwhile, US President D

India summons Iranian envoy after firing on its vessels in Hormuz

As per reports, Iran's Islamic Revolutionary Guard Corps (IRGC) had carried out at least three attacks on commercial ships in the strait since Saturday morning

Tensions high in Hormuz as Iran hits ships, US blockade turns back vessels

Tensions gripped West Asia as uncertainty over the Strait of Hormuz deepened, with Iran claiming control and hitting vessels, while the US military moved in parallel to regulate traffic

Indian vessels turn back as Iran gunboats fire on tanker in Hormuz: Report

Two Indian vessels have had to reverse course in the Strait of Hormuz following reports of gunfire from Iran's Revolutionary Guard, a vessel-tracker said. TankerTrackers.com said the vessels include an Indian-flagged super tanker, carrying 2 million barrels of Iraqi oil. Earlier, the British military said two gunboats from Iran's Revolutionary Guard opened fire on a tanker transiting the Strait of Hormuz after Iran said it had reimposed restrictions on the vital waterway. The United Kingdom Maritime Trade Operations Centre said the tanker and crew were reported safe, without identifying the vessel or its destination. Iran said earlier it was reimposing restrictions on the strait in response to a US blockade on Iranian shipping and ports. Iran has prevented vessels from crossing throughout the seven-week-long war, except for ones it authorises.

Modi, Macron discuss West Asia, stress navigation freedom in Hormuz

Prime Minister Narendra Modi spoke with French President Emmanuel Macron and discussed the situation in West Asia, with both leaders emphasising the need to urgently restore safety and freedom of navigation in the Strait of Hormuz. In a post on X about his telephonic conversation with Macron, Prime Minister Modi said on Thursday, "We will continue our close cooperation to advance peace and stability in the region and beyond." On March 5, Modi and Macron had spoken over the phone, and discussed their "shared concerns" over the evolving situation in West Asia, and the need for a return to dialogue and diplomacy. The conflict in West Asia has now stretched to nearly 50 days. "Received a phone call from my dear friend President Emmanuel Macron. We discussed the situation in West Asia and agreed on the need to urgently restore safety and freedom of navigation in the Strait of Hormuz. "We will continue our close cooperation to advance peace and stability in the region and beyond," Modi

Iran proposes letting ships exit safely through Oman side of Hormuz: Report

The US-Israeli war with Iran has resulted in the largest-ever disruption of global oil and gas supplies due to Iran's interruption of traffic through the strait

L&T up 26% from March low, nears pre-West Asia conflict price; here's why

L&T's long-term outlook for the Middle East business remains robust with no news of project cancellations or payment delays, says brokerage firm JM Financial.

US, Iran agree 'in principle' to extend ceasefire amid tensions: Report

As per a report, both sides - the US and Iran - are making progress and appear willing to prolong the truce to create space for continued diplomatic engagement

Xi says rule of law must be upheld for West Asia peace, stability

The visit comes amid heightened tensions in the Middle East after weekend talks between Washington and Tehran failed to reach a deal to end the war

Modi, Trump hold 40-min call, discuss Hormuz blockade, energy deals

This marked the first interaction between the two leaders since the initial round of peace talks in Islamabad failed without an agreement after nearly 21 hours of negotiations

Lebanon, Israel hold first direct diplomatic talks in decades in Washington

Lebanon and Israel opened their first direct diplomatic talks in decades on Tuesday in Washington following more than a month of war between Israel and the Hezbollah militant group. Secretary of State Marco Rubio called it a "historic opportunity" and made it clear no breakthrough agreement was immediately expected. Rubio said the Trump administration is "very happy" to be facilitating the discussions, while noting that "we understand we're working against decades of history and complexities" that will not be quickly resolved. Hezbollah opposes the direct talks and was not represented, and the group appeared to step up its fire on northern Israel as the talks began. "But we can begin to move forward with a framework where something can happen, something very positive, something very permanent, so that the people of Lebanon can have the kind of future they deserve, and so that the people of Israel can live without fear," Rubio said. Rubio and US Ambassador to the United Nations Mike

India leads steel demand growth as global outlook weakens: Report

West Asia conflict is expected to drag steel demand in key regions, while India remains the fastest-growing major market supported by infrastructure push and consumption trends

West Asia war may hit auto sector, raise costs, dent demand: Siam

The war in West Asia may have adverse implications for the Indian automotive industry and could pose near-term challenges for the sector, having an indirect impact on vehicle demand, Society of Indian Automobile Manufacturers President Shailesh Chandra said on Tuesday. While the automobile industry concluded the 2025-26 year from a position of strength, developments arising from the ongoing West Asian conflict pose certain risks, he told reporters here. "Recent uncertainties arising from the West Asia conflict need to be closely monitored. The evolving geopolitical situation may have adverse implications for automotive production, input and commodity prices, fuel prices and freight rates, which could pose near-term challenges for the industry and may also indirectly impact the demand requirement," he said. Sharing an update on the current situation faced by the domestic auto industry, Chandra said, "Supply disruptions have led to shortages of propane and ethylene, critical inputs

Luxury watch industry faces fresh headwinds as Iran war dents demand

The bling is back, but the war in the Persian Gulf has tarnished the outlook for the luxury watch industry - the ultimate in bling. Starting Tuesday, Geneva hosts the annual "Watches and Wonders" fair, a premiere gathering in an industry eager for a rebound after two years of market contraction, hopefully including sales in oil-rich Gulf Arab countries. The US and Israeli war against Iran that began February 28, however, has had a sweeping impact on the global economy: Driving up energy prices, stalling shipments of fertiliser, disrupting air travel, among other things. High-end watches have not been spared. Soaring prices for precious metals like gold and silver over the last year and US President Donald Trump's Liberation Day tariffs launched a year ago - while down from peak levels - already affected the market. Now, renewed inflation pressures and doubts about consumer confidence are throwing new uncertainty into the market that generates tens of billions of dollars in revenue

US Navy maintains presence in West Asia, may participate Iran blockade

It remains unclear which specific vessels are positioned or designated for participation in the blockade

West Asia crisis: Export of recycled metals hit as war-risk charges persist

Indian exporters continue to face steep war-risk and freight charges despite a ceasefire, with rising logistics costs eroding margins and disrupting supply chains