Page 4 - West Asia And The Gulf

West Asia conflict highlights need for India to build natural gas reserves

Rising import dependence and supply disruptions amid West Asia tensions underscore the urgency for India to build strategic natural gas reserves and strengthen LNG storage capacity

Iran ceasefire tested as cargo ship catches fire, Kuwait says drone attack

The shaky ceasefire in the Iran war was tested again on Sunday when a cargo ship caught fire after being hit by an unknown projectile off Qatar's coast, and Kuwait's military reported an attack by drones, without specifying where they came from. The attacks were the latest threats to a month-old ceasefire, which the Trump administration says remains in effect. It has faced difficulties, with Iran restricting traffic through the Strait of Hormuz, a strategic waterway key to the global flow of oil, and the US imposing a blockade of Iranian ports. Washington has been awaiting Iran's response to a new proposal for a deal to end the war, reopen the strait to shipping and roll back Iran's nuclear programme. One of the main sticking points in the negotiations is the fate of Iran's stockpile of highly enriched uranium. The UN nuclear agency says Iran has more than 440 kg (970 pounds) of uranium that is enriched up to 60% purity, a short, technical step from weapons-grade levels. In an ...

Qatar LNG tanker makes fresh attempt to transit through Hormuz Strait

The ship is navigating the Tehran-approved northern route near Qeshm and Larak islands, the tracking data show

Global oil stockpiles deplete at record pace due to Iran war disruptions

The sharp depletion will also mean the market stays vulnerable for longer to future disruptions even after the conflict ends

UK moves warship to West Asia for potential Strait of Hormuz mission

France recently announced it had moved its Charles de Gaulle aircraft carrier to the Red Sea in a move aimed at signaling that the coalition stood ready to secure the strait

Iran creates new govt agency to control shipping in Strait of Hormuz

Iran has created a government agency to vet and tax vessels seeking passage through the crucial Strait of Hormuz, a shipping data company has reported, as Tehran said it was reviewing the latest US proposals for ending the war. The Iranian effort to formalise control over the channel raised new concerns about international shipping, with hundreds of commercial ships bottled up in the Persian Gulf and unable to reach the open sea. Still, hope that the two-month conflict could soon be over buoyed international markets. Iranian Foreign Ministry spokesperson Esmail Baghaei on Thursday said the Islamic Republic was reviewing messages from Pakistan, which is mediating peace negotiations, but Iran "as not yet reached a conclusion, and no response has been given to the US side", Iranian state TV reported. Late in the day, Iranian state media said the country's armed forces exchanged fire with "the enemy" on Qeshm Island in the Strait of Hormuz. It is the largest Iranian island in the Persia

Should India and the Gulf elevate their relationship to a strategic one?

Against a backdrop of broken alliances and misaligned interests, India's relationship with West Asia is fundamentally different

Prioritise energy security to sustain growth momentum: RBI MPC member

The ongoing West Asia conflict has highlighted India's structural vulnerability to energy shocks, reinforcing the need to reduce dependence on imported crude and accelerate efforts to strengthen energy security, according to an external member of the RBI's rate-setting panel. Nagesh Kumar, who is the director of the Institute for Studies in Industrial Development and also a part of the Monetary Policy Committee, said the Indian approach needs to focus both on stepping up oil exploration domestically and hastening the transition to alternative sources. "The high dependence on imported crude makes the Indian economy highly vulnerable to volatility in the hydrocarbons market. While India's macroeconomic fundamentals remain resilient, and the Indian economy will continue to remain the fastest growing major economy with a growth rate of nearly 7 per cent in 2026-27, it is time to prioritise energy security and resilience for sustaining the accelerating economic growth trajectory," Kumar .

Geopolitical events rarely cause lasting damage to growth: Radhakrishnan

Near-term earnings may face pressure from geopolitical tensions, but improved valuations and strong fundamentals keep India's long-term market outlook intact

EAC-PM calls for mapping economic vulnerabilities in food, other areas

India must map and monitor key economic vulnerabilities, particularly in areas such as energy, food, fertilisers, metals, and critical minerals, and proactively address both supply disruptions and price volatility to mitigate the impact of future West Asia-like crisis, a top government official said on Monday. Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev in an interview with PTI further said the ongoing West Asia conflict highlights the need for a forward-looking approach to risk management. "India must map and monitor key economic vulnerabilities, particularly in areas such as energy, food, fertilisers, metals and critical minerals, and proactively address both supply disruptions and price volatility," Dev said. He said this calls for a substantial strengthening of physical buffers, including an expansion of strategic petroleum reserves and the creation of stockpiles for essential commodities, going beyond the conventional reliance on foreign ...

CEA sees West Asia conflict widening India's CAD above 2%, urges investment

The CEA argued that India's substantial refining capacity significantly mitigates the challenges of its high crude oil import dependence