Page 49 - West Asia

India seeking US marine cover for West Asia energy cargoes: Report

India, the world's third biggest oil importer, relies on the Middle East for about 40 per cent of its oil imports and about 85-90 per cent of LPG imports

Iran's attacks across Gulf show regional chaos central to its strategy

For years, Iran's theocratic government warned it would blanket the Middle East with missile and drone fire if it felt its existence was threatened. Now, the Islamic Republic is doing just that. Since the US and Israel launched the war Saturday and killed Iranian Supreme Leader Ayatollah Ali Khamenei, Iran has unleashed thousands of drones and ballistic missiles targeting Israel, American military bases and embassies in the region, and energy facilities across the Persian Gulf. Meanwhile, there's been Iranian missile fire on Turkey and drones targeting territory of Azerbaijan. Iran's basic strategy is to instill fear about the dangers of a widening war in hopes that allies of the US will apply enough pressure to halt their campaign. A protracted conflict, along with American and Israeli casualties, could also work in Iran's favour. Trouble is, the barrage-thy-neighbours strategy also could backfire. A bid to wear down regional defences and instill ...

PM Modi calls for swift end to West Asia, Ukraine conflicts

PM Modi invoked the historic trade deal signed with the European Union in January and said that at a period on instability India and Europe were entering a golden period of their relationship

Azerbaijan accuses Iran of drone attack, says 2 civilians injured

Azerbaijan's Foreign Ministry on Thursday accused Iran of carrying out a drone attack against its exclave of Nakhchivan. One drone crashed near the airport in Nakhchivan and another one near a school, the ministry said in a statement. Two civilians were injured, the ministry said. Iran has not acknowledged targeting Azerbaijan, but its attacks have spread erratically as the war has gone on involving regional countries and beyond.

War with Iran to cost $3 bn a week under current limitations: Israel

The ongoing war with Iran could cost Israel an estimated NIS 9.4 billion (USD 3 billion approximately) per week under current restrictions on economic activities, the Israeli Finance Ministry has warned. "In a letter sent to the Home Front Command chief, Maj. Gen. Shai Klapper, Finance Ministry Director General Ilan Rom asked to ease restrictions to allow for a gradual, partial reopening of businesses and workplaces as early as Thursday," the Times of Israel reported. "There is no dispute about the need to preserve a defence policy adapted to the security situation, but at the same time, shutting down the economy on a broad scale carries heavy economic costs," Rom warned. "We need a solution that addresses both the security needs of the Home Front and the needs of the economy, after two and a half years in which the economy has been paying a heavy economic price in light of the increase in security needs and the repercussions of the war," the top Finance Ministry executive reportedl

Adani Total Gas hikes industrial prices amid conflict in West Asia

As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through the Strait of Hormuz between Iran and Oman, ‌which carries around one-fifth of oil consumed globally

What is force majeure and why are global energy firms invoking it now

As tensions in West Asia disrupt oil and LNG flows through the Strait of Hormuz, Indian energy firms are invoking force majeure clauses to suspend contractual obligations amid rising maritime risks

West Asia crisis may hit trade, LNG supply if disruption persists: Crisil

A prolonged war in the Middle East could adversely affect several Indian sectors with direct trade exposure to the region, including basmati rice, fertilisers, diamond polishing, airlines and travel operators, according to Crisil Ratings. The rating agency said sectors dependent on imported Liquefied Natural Gas (LNG), such as ceramics and fertilisers, may also face near-term production disruptions, while crude-linked industries including oil refiners, tyres, paints, specialty chemicals, flexible packaging and synthetic textiles could see cost pressures if energy prices remain elevated. Countries in the Middle East account for about 30 per cent of global crude oil and 20 per cent of global LNG production, most of which is transported through the Strait of Hormuz. India imports roughly 85 per cent of its crude oil and about half of its LNG, with 40-50 per cent of crude oil and 50-60 per cent of LNG shipments routed through the strait. According to Crisil, most shipping vessels have .

Global firms, investors in share sale rush as West Asia conflict erupts

Some firms and their shareholders have tapped equity investors before markets potentially sour further and hamper the ability to raise capital

Flight services between Kolkata, Dubai resume partially amid West Asia war

Flight services between Kolkata and Dubai resumed partially on Thursday, after a four-day suspension due to the ongoing conflict in the Middle East, officials said. A flydubai aircraft from Dubai landed at the Netaji Subhas Chandra Bose International Airport here at 2:40 am with 130 passengers on board, marking the first arrival from the Middle East after services were halted for over 113 hours, they said. The Boeing 737 Max aircraft was scheduled to arrive at 12:25 am, Kolkata airport officials said. The same aircraft departed for Dubai at 3:59 am with 55 passengers, they said. The last flight to depart for the Middle East from Kolkata before the suspension was an Emirates aircraft to Dubai on February 28, the officials said. International services between Kolkata and cities such as Dubai, Doha and Abu Dhabi were disrupted, after airlines temporarily suspended operations amid escalating tensions and airspace restrictions in parts of the Middle East, due to the conflict involving

Oil prices rise as West Asia crisis chokes off vital oil, gas supply

Brent crude was trading up $1.67, or 2.05%, at $83.07 per barrel by 0141 ‌GMT. US West Texas Intermediate crude rose $1.94, or 2.60%, to $76.60

Iran launches missiles at Israel as war in West Asia enters day 6

Iran launched missiles at Israel early Thursday as aerial attacks in the Middle East commenced for a sixth day after an American submarine sank an Iranian warship and Iran threatened the destruction of military and economic infrastructure across the region. Israel announced the incoming attack shortly after its military said it had begun new strikes in Lebanon targeting the Iranian-backed Hezbollah militant group in Beirut's southern suburbs. The fighting continued after the US and Israel intensified their bombardment on Wednesday of Iran's security forces and other symbols of power. The tempo of the strikes on Iran was so intense that state television announced the mourning ceremony for Iranian Supreme Leader Ayatollah Ali Khamenei, who was killed at the start of the conflict, would be postponed. Millions attended the funeral of his predecessor, Ayatollah Ruhollah Khomeini, in 1989. The US and Israel launched the war Saturday, targeting Iran's leadership, missile arsenal and nucle

Over 17,500 Americans safely returned from West Asia amid Iran conflict: US

US State Department said that through its 24/7 Task Force, it has assisted nearly 6,500 Americans abroad by offering security guidance and travel assistance

Detected over 185 missiles since start of 'blatant Iranian aggression': UAE

The Ministry of Defence on Tuesday also successfully intercepted three ballistic missiles and detected 129 drones, of which 121 were intercepted while eight fell within the territory of the state

Israeli military attacks Iranian command centres with over 100 warplanes

The Israeli military said it attacked a compound in eastern Tehran housing the headquarters for the Islamic Revolutionary Guard Corps, the elite Quds Force, the intelligence directorate, Basij paramilitary force, Iran's cyber unit, and a "unit in Internal Security responsible for suppressing protests." More than 250 bombs were dropped by over 100 fighter jets in the "wide-scale" strike, according to an Israeli military official who spoke on condition of anonymity because he was not authorised to speak publicly.

West Asia conflict casts shadow on Gulf's glittering wedding season

Rising West Asia tensions disrupt Dubai's booming destination wedding season, leaving Indian families stranded and millions in bookings on hold

West Asia crisis: Rupee breaches 92 against $, RBI buys govt bonds

The rupee slid to a new low of 92.30 per dollar as tensions in West Asia drove crude higher, before recovering after RBI sold dollars and bought bonds to curb volatility

West Asia crisis: Sensex slips to 11-month low, volatility gauge jumps 23%

Escalating West Asia tensions kept oil prices elevated and triggered broad-based selloff in domestic equities, pushing benchmark indices to multi-month lows and erasing ₹21.5 trillion in market value

MEA sets up control room amid West Asia tensions, issues helpline numbers

The Ministry of External Affairs also released emergency contact numbers of Indian embassies across West Asia and Gulf region to assist Indian nationals

In a world without order, India must build economic, military strengths

Building economic and military strength at home and securing trade deals abroad are vital