Page 6 - West Asia

11 India-bound ships crossed Hormuz after US-Iran peace MoU: MEA

Eleven India-bound ships have transited through the Strait of Hormuz after the US and Iran finalised a Memorandum of Understanding (MoU) to end the West Asia conflict, the Ministry of External Affairs (MEA) said on Tuesday. With the US withdrawing sanctions on Iranian petroleum products as part of the peace deal, New Delhi said it is monitoring the developments in West Asia and that its energy sourcing is guided by national interest. "As of today, we have 10 Indian-flagged vessels still in the Persian Gulf region. In addition, two have recently arrived there," MEA spokesman Randhir Jaiswal said at a media briefing. "Since the signing of the MoU on June 17, 11 India bound vessels have transited through the Strait of Hormuz," he said. The vessels include three Indian-flagged crude oil tankers, each carrying over 285,000 MT (Metric Tonnes) of crude oil; one foreign-flagged LPG carrier, one foreign-flagged crude oil tanker and six foreign-flagged bulk carriers , carrying fertilisers, h

India must diversify energy routes, not just suppliers: S&P Global Energy

India's energy security depends on diversifying both suppliers and transport routes as West Asia tensions expose risks linked to the Strait of Hormuz

India welcomes US-Iran pact with cautious optimism: NSA Ajit Doval

Addressing the BRICS NSA meeting, Doval said the US-Iran agreement could stabilise energy security and ease supply-chain pressures on key commodities

US, Iran offer conflicting accounts of nuke talks as deal efforts continue

Trump says Iran agreed to inspections; Tehran refutes claims

Marc Faber sees 20% fall in Indian markets, prefers to stay in cash

Marc Faber, editor and publisher of 'The Gloom, Boom & Doom Report', says that his advice is to stay in cash and bonds for now

US, Iran want a deal but uncertainty persists over Israeli intentions

Early progress in US-Iran talks offers hope for a deal, but tensions involving Israel, Lebanon and the Strait of Hormuz could still derail negotiations

US-Iran talks lay 'good foundation' for final peace deal, says Vance

The United States and Iran agreed on a roadmap towards a permanent agreement within 60 days, with progress reported on nuclear inspections, oil exports and maritime security

Foreign currency inflows to support domestic liquidity: RBI's MPC member

The growth-inflation outlook remains clouded despite easing West Asia tensions, with risks from food prices and supply chains, says Bhattacharya

Four fertiliser ships clear Strait of Hormuz; head to Indian ports

Four cargo vessels carrying urea, DAP and sulphur, which successfully navigated the Strait of Hormuz last week amid ongoing West Asia tensions, are now en route to destination ports in India, the Ministry of Chemicals and Fertilisers said on Monday. The ships are headed to Krishnapatnam, Kakinada, Paradeep and Mundra. Upon arrival, the cargo will be offloaded to supplement existing fertiliser buffers and meet ongoing agricultural requirements ahead of the Kharif season. Domestic fertiliser production has reached 133.12 lakh tonne, while imports stand at 43.69 lakh tonne since the crisis began on March 1, the ministry said. India has also contracted 17.70 lakh tonne of urea in its latest global tender, taking total secured supplies of urea and P&K fertilisers to over 90 lakh tonne for the Kharif season, the ministry said in a statement. Urea supplies have been locked in from Oman, Malaysia, Vietnam, Georgia, Nigeria, Russia, Finland, Egypt, Algeria, Turkey and the Netherlands. DAP .

West Asia conflict tightens the tap on India's startup funding options

Escalating tensions in West Asia have made investors more cautious, dragging India's startup funding 43% lower since March

Next mkt upcycle to be earnings-led, not valuation-driven: Anand Shah

ICICI Prudential AMC's Anand Shah sees manufacturing-led mid and smallcaps sustaining outperformance as earnings growth supports valuations

V-P JD Vance arrives in Switzerland for first peace talks with Iran

A high-level Iranian team arrived in Switzerland for peace talks with the US, as US Vice President JD Vance departed Washington for meetings that Pakistan said will begin

3 Indian tankers reemerge in Gulf of Oman, signalling Hormuz traffic uptick

Desh Vibhor, Desh Vaibhav and Sanmar Herald were observed in Gulf of Oman and the Arabian Sea on Sunday, after having been last seen signaling their attempt to cross the Strait of Hormuz late Friday

Pak PM Sharif, Army Chief Munir leave for Switzerland for US-Iran talks

Pakistan Prime Minister Shehbaz Sharif and its Army Chief Asim Munir left for Switzerland early Sunday to participate in the technical-level talks between the US and Iran. As a follow-up to the signing of the Islamabad MoU, technical-level talks will be held in Burgenstock, Switzerland, on Sunday, according to the prime minister's office. "The prime minister, along with a high-level delegation, has departed from Islamabad for Switzerland," the PMO said in its statement issued after midnight. It added that Prime Minister Sharif and Field Marshal Munir will participate in these talks. Earlier, Pakistan had announced that the talks would be held in Switzerland after they were postponed on Friday. The talks are aimed at adding key details to the preliminary accord to halt the nearly four-month war between the US and Iran signed earlier this week by US President Donald Trump and Iranian President Masoud Pezeshkian. US Vice President J D Vance was initially supposed to hold a first rou

Iran negotiators, Vance head for Switzerland as Lebanon fighting continues

The IRGC warned ships would be at risk ​if they approached the waterway, a vital conduit for global oil and gas supplies

US to charge tolls in Hormuz if Iran deal not reached in 60 days: Trump

US President Donald Trump on Saturday threatened to impose US tolls in the Strait of Hormuz if a final deal with Iran isn't reached in 60 days. Trump, spending the weekend at Camp David, underscored that the initial agreement to end the war with Iran calls for toll-free travel through the vital waterway for 60 days. Then he said: "there will be NO TOLLS after the 60 day period has expired, unless they are imposed by and for the United States of America, should the deal not be completed." Trump said the money would be for "services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs." The US president has faced a lot of blowback domestically for how the memorandum of understanding with Iran addresses the issue of tolls in the Strait of Hormuz. The deal only secures toll-free passage for 60 days and doesn't preclude future fees.

Oil shipments rise in Hormuz while questions grow over Iran's terms

Oil tanker traffic through the Strait of Hormuz is rebounding after the US-Iran ceasefire, though Tehran's transit conditions continue to unsettle shippers

OMCs incur ₹22,000 crore LPG under-recoveries amid West Asia crisis

Higher global LPG prices and limited pass-through to household consumers have resulted in Rs 22,000 crore of under-recoveries for oil marketing companies since March

Gold, Silver ETFs tumble up to 6% as risk appetite weakens amid IT selloff

Silver ETFs bore the brunt of the correction, falling as much as 6 per cent during the session, while gold ETFs declined over 3 per cent

Trump used 'all kinds of leverage', says Mojtaba Khamenei on US-Iran deal

Khamenei said Iran agreed to the US-Iran deal only after assurances on national rights, while insisting future talks with Washington do not mean accepting American demands