Rising electricity costs, recurring power outages, and global energy uncertainty are accelerating the adoption of rooftop solar systems across the Philippines. Businesses and households are increasingly investing in solar energy to reduce power bills, improve energy security, and lessen dependence on traditional electricity sources. As demand surges, the solar industry is witnessing rapid growth, but challenges remain. Industry players point to financing constraints, regulatory bottlenecks, and permitting delays as key obstacles slowing wider adoption. Despite these hurdles, the country's renewable energy transition is gaining momentum.

Businesses & households lead Philippines' solar revolution

The Iran crisis has reshaped global energy markets, sending crude oil prices soaring and delivering massive profits to the world's biggest oil companies. As disruptions in the Strait of Hormuz pushed oil above $126 per barrel, energy giants including Saudi Aramco, ExxonMobil, Chevron, Shell, BP, and TotalEnergies reported record quarterly earnings.

Combined profits reached nearly $93 billion between April and June, while consumers worldwide struggled with soaring fuel and energy costs. The windfall has sparked political criticism and renewed calls for stronger taxes on excess profits and greater investment in clean energy.

Iran War Fuels Oil Profits: Energy Giants Earn $93 Billion in Just 3 Months

The Houthi rebels are expanding their role in the West Asia conflict by targeting Saudi oil tankers and tightening their maritime blockade in the Red Sea. Yemeni authorities accuse the Iran-backed group of copying Tehran's strategy in the Strait of Hormuz, raising fears of a wider regional conflict.

With attacks on energy infrastructure, threats to global shipping, and reports that the Houthis may seek to charge vessels for safe passage, concerns are growing over the security of one of the world's busiest maritime trade routes.

Houthis Copy Iran’s Strategy? Red Sea Blockade Threatens Global Shipping

The United States has reimposed its naval blockade on Iranian ports following the collapse of peace talks, but Iran's oil exports continue through a secretive network known as the "shadow fleet."

This network consists of hundreds of aging oil tankers that operate outside traditional shipping systems, helping Tehran continue its energy trade despite years of U.S. sanctions. These vessels often disable tracking systems, change identities, use foreign registrations, and conduct ship-to-ship oil transfers to hide their origins.

While Washington's sanctions target companies, banks, and shipping firms involved in Iranian crude trade, Iran has built a parallel export system that keeps its oil flowing to international buyers, especially China.

Iran's Ships Hide Identities to Evade U.S. Sanctions & Tracking | The West Asia Post 

Saudi Arabia's economy has contracted 4.8% year-on-year in the second quarter, according to flash estimates, highlighting the kingdom's continued dependence on oil revenues despite years of economic diversification efforts.

The decline was driven primarily by a 24.7% drop in oil-related activities, while non-oil sectors provided only limited support. The latest figures come as geopolitical tensions across West Asia continue to influence oil production, energy markets, and global supply chains.

Although Saudi Arabia's Vision 2030 aims to reduce reliance on hydrocarbons, the latest GDP data underscores the challenges of transforming an economy still heavily tied to crude oil exports.

Saudi Arabia's Economy Shrinks 4.8% as Oil Slump and West Asia Tensions Weigh on Growth

European gas prices are flashing red again. LNG futures touched 62 euros, or about 70 dollars, per megawatt-hour on July 22nd, the highest since the Iran-Israel conflict rattled markets earlier this year. It is up nearly 50 percent from June's 40-42 euros range. The reason isn't a new supply shock. It's a bidding war Europe is losing.

Europe Loses LNG Bidding War to Asia | World Business Watch 

The United States is preparing a fresh wave of tariffs on dozens of trading partners, as President Donald Trump doubles down on using trade penalties as a negotiating tool. The new duties could affect countries including China, India, Japan, Canada, Mexico, the European Union and others, with Washington accusing some nations of failing to address forced labour concerns.

Donald Trump expands global Trade Tariff Push | World Business Watch | Wion 

Asia's property market is sending mixed signals. While countries like India and Japan continue to post record demand and rising investments,markets such as Hong Kong and Mainland China are still grappling with weaker fundamentals. But beneath those headline numbers lies a deeper story -one of widening gaps between cities, sectors and even buildings. Here's a closer look.

Asia's property boom hides a growing divide | World Business Watch | Wion News 

Global energy markets are facing renewed uncertainty as Brent crude oil prices surge above $94 per barrel amid rising US-Iran tensions. Analysts warn that crude prices could approach $100 per barrel soon, while a worst-case scenario could push Brent back toward $120 if oil flows through the Strait of Hormuz are severely disrupted.

The Strait of Hormuz remains one of the world's most important energy routes, carrying millions of barrels of oil every day. Any escalation in the Middle East could trigger a fresh oil shock, impacting fuel prices, inflation, and global economies.

Goldman warns: Brent could top $120 again | Wion News  | World Business Watch 

 China has just posted its highest-ever oil and gas production. But even as Beijing celebrates record output, it is warning that the country's energy future is becoming far more difficult. Depleting oilfields, rising extraction costs and growing geopolitical risks are forcing China to rethink how it secures its energy supplies.

China's Energy Warning After Record Output | World Business Watch | Wion News 

President Donald Trump has declared that Iran is "not ready" to make a deal, while warning that the United States would destroy Iranian infrastructure if attacks on shipping in the Strait of Hormuz continue.
Iran's military responded with a sharp warning, saying any U.S. strike on critical infrastructure would trigger attacks on regional oil, gas, electricity, and economic facilities, while vowing to halt oil exports entirely.

Trump Warns Iran: No Deal, More Strikes If Hormuz Attacks Continue | Oil Crisis Escalates

Cuba's entire national grid went dark again on Tuesday — the third total collapse in just ten days. The island's aging, Soviet-era power plants are running on fumes as a US fuel blockade, imposed since January, chokes off the oil needed to keep generators running. Hospitals are rationing power, public transport has nearly stopped, and tens of thousands of Cubans are waiting on delayed surgeries. Cuban officials blame Washington's sanctions; the US points to decades of failing infrastructure. Either way, 10 million people are living through it.


Cuba’s power grid collapses again: Third blackout this month 

The math just changed for global energy. With two wars now hitting near the same waters, tankers are becoming targets. Reports say UAE ships were struck in Omani waters, and talk of a Trump blockade plan with tolls on the Strait of Hormuz is rattling markets. This narrow passage moves about 20% of the world’s oil, so every incident hits fuel prices, shipping costs, and refineries far from the conflict. 


Two wars, one chokepoint: Energy crisis deepens

Russian authorities in the Novosibirsk region have urged residents to work from home and limit car travel as the country’s fuel crisis deepens following Ukrainian strikes on key oil refineries. The region, home to nearly three million people, is one of Siberia’s most populous areas and a major center for manufacturing and industry. The advisory comes after Ukraine struck an oil refinery in the neighboring Omsk region earlier this week, disabling one of Russia’s largest oil processing facilities by capacity.


Russia-Ukraine war: Putin urges remote work after massive Ukrainian strikes

The Russia-Ukraine war began in February 2022 and has been going on ever since for over four years now. Moscow launched a full-scale invasion of Ukraine, triggering the deadliest war in Europe since World War II. The conflict has not just increased tensions in the region, but also affected supply chains across the world. With no sign of a resolution of the conflict in the near future, the world has been forced to adapt to the shifts it brought to global energy markets, food security, and defence spending.<h2>Energy markets on edge</h2>The war has pushed the energy markets to the edge given Russia’s dominance over global crude oil exports. The sanctions and repeated strikes on its refineries have significantly changed the flow of supply in ways that are still playing out.Through 2025 and 2026, Ukrainian attacks on Russian energy infrastructure have intensified, at times cutting refinery output and tightening fuel availability inside Russia itself. In an unusual event, Russia even had to import refined fuels, including shipments from India.At the same time, tensions in the Middle East have kept traders on alert over potential disruptions to one of the world’s most critical supply regions. Even without full-scale escalation, periodic flare-ups in the region have been enough to push prices higher, tighten insurance costs, and amplify risk premiums across global crude benchmarks.The result is a market that is not short of oil, but short of certainty. Diesel remains the tightest segment, particularly in Europe, where inventories are thin, and price swings remain sharp whenever supply fears emerge.Also read | <a href="https://www.wionews.com/world/inside-the-500-000-mobility-target-why-japan-wants-50-000-indian-workers-japan-workers-shortage-1783077430875">Inside the 500,000 mobility target: Why Japan wants 50,000 Indian workers</a><h2>Food markets under persistent pressure</h2>While there were initial fears of food shortages, the concerns have faded. However, the markets have not returned to normal. Both Russia and Ukraine hold a significant share in global wheat and sunflower oil exports. Moscow is also a key player in fertiliser supply.However, since the Black Sea trade route was disrupted in 2022, exports have been rerouted through longer and more expensive channels. While the war has not resulted in a shortage of food supplies, it has pushed prices way up due to longer shipping time, higher insurance costs, and thin margins across the board. In India, the rising cost of fertilisers has affected the agriculture industry.<h2>Defence spending</h2>Due to the Russia-Ukraine war, military budgets have not just increased – they have undergone a major shift. NATO countries have expanded their spending and rebuilt ammunition stocks. They have also accelerated procurement of drones, missile systems and air defence networks.What is different this time is persistence. Defence spending is no longer reacting to a single war. It is responding to the expectation that instability is now a feature of the system, not an interruption.The Iran war further reinforced this trend beyond Europe, pushing regional governments to increase readiness and procurement cycles.Also read | <a href="https://www.wionews.com/india-news/as-global-supply-chains-shift-can-india-become-the-next-manufacturing-hub-1783159714059">As global supply chains shift, can India become the next manufacturing hub?</a><h2>India: Balancing energy gains and risks</h2>India has benefited from discounted Russian crude, with imports from Russia rising sharply since 2022 and helping to stabilise fuel prices. But that advantage sits alongside exposure to sanctions risk and supply chain uncertainty.The Middle East adds another dimension, given India’s heavy reliance on the region for energy imports and shipping routes. Any escalation there directly affects freight costs, insurance premiums and supply security.On defence, dependence on Russian-origin systems continues even as India pushes diversification and domestic production. Spare parts and long-term maintenance remain key pressure points. India’s challenge is no longer just balancing partners. It is managing exposure across multiple conflict zones at once, in a global system where instability has become overlapping rather than isolated.Watch | Russia-Ukraine War: Zelensky, Putin Hold Separate Calls With Trump on Ukraine War<a href="https://www.wionews.com/videos/russia-ukraine-war-zelensky-putin-hold-separate-calls-with-trump-on-ukraine-war-1783306630844/embed">https://www.wionews.com/videos/russia-ukraine-war-zelensky-putin-hold-separate-calls-with-trump-on-ukraine-war-1783306630844/embed</a>&nbsp;

Russia-Ukraine war is reshaping energy, food, defence and trade systems, while India balances energy security, supply risks and strategic autonomy in a volatile geopolitical environment. Here’s what you need to know.

The Russia-Ukraine war began in February 2022 and has been going on ever since for over four years now. Moscow launched a full-scale invasion of Ukraine, triggering the deadliest war in Europe since World War II. The conflict has not just increased tensions in the region, but also affected supply chains across the world. With no sign of a resolution of the conflict in the near future, the world has been forced to adapt to the shifts it brought to global energy markets, food security, and defence spending. Energy markets on edge The war has pushed the energy markets to the edge given Russia’s dominance over global crude oil exports. The sanctions and repeated strikes on its refineries have significantly changed the flow of supply in ways that are still playing out. Through 2025 and 2026, Ukrainian attacks on Russian energy infrastructure have intensified, at times cutting refinery output and tightening fuel availability inside Russia itself. In an unusual event, Russia even had to import refined fuels, including shipments from India. At the same time, tensions in the Middle East have kept traders on alert over potential disruptions to one of the world’s most critical supply regions. Even without full-scale escalation, periodic flare-ups in the region have been enough to push prices higher, tighten insurance costs, and amplify risk premiums across global crude benchmarks. The result is a market that is not short of oil, but short of certainty. Diesel remains the tightest segment, particularly in Europe, where inventories are thin, and price swings remain sharp whenever supply fears emerge. Also read | Inside the 500,000 mobility target: Why Japan wants 50,000 Indian workers Food markets under persistent pressure While there were initial fears of food shortages, the concerns have faded. However, the markets have not returned to normal. Both Russia and Ukraine hold a significant share in global wheat and sunflower oil exports. Moscow is also a key player in fertiliser supply. However, since the Black Sea trade route was disrupted in 2022, exports have been rerouted through longer and more expensive channels. While the war has not resulted in a shortage of food supplies, it has pushed prices way up due to longer shipping time, higher insurance costs, and thin margins across the board. In India, the rising cost of fertilisers has affected the agriculture industry. Defence spending Due to the Russia-Ukraine war, military budgets have not just increased – they have undergone a major shift. NATO countries have expanded their spending and rebuilt ammunition stocks. They have also accelerated procurement of drones, missile systems and air defence networks. What is different this time is persistence. Defence spending is no longer reacting to a single war. It is responding to the expectation that instability is now a feature of the system, not an interruption. The Iran war further reinforced this trend beyond Europe, pushing regional governments to increase readiness and procurement cycles. Also read | As global supply chains shift, can India become the next manufacturing hub? India: Balancing energy gains and risks India has benefited from discounted Russian crude, with imports from Russia rising sharply since 2022 and helping to stabilise fuel prices. But that advantage sits alongside exposure to sanctions risk and supply chain uncertainty. The Middle East adds another dimension, given India’s heavy reliance on the region for energy imports and shipping routes. Any escalation there directly affects freight costs, insurance premiums and supply security. On defence, dependence on Russian-origin systems continues even as India pushes diversification and domestic production. Spare parts and long-term maintenance remain key pressure points. India’s challenge is no longer just balancing partners. It is managing exposure across multiple conflict zones at once, in a global system where instability has become overlapping rather than isolated. Watch | Russia-Ukraine War: Zelensky, Putin Hold Separate Calls With Trump on Ukraine War https://www.wionews.com/videos/russia-ukraine-war-zelensky-putin-hold-separate-calls-with-trump-on-ukraine-war-1783306630844/embed

Russia-Ukraine war is reshaping energy, food, defence and trade systems, while India balances energy security, supply risks and strategic autonomy in a volatile geopolitical environment. Here’s what you need to know.

How Russia-Ukraine war is reshaping energy flows, food prices, defence spending and India’s strategy | WION Decodes

Pakistan has reintroduced mandatory 8PM market closing hours as part of a renewed push to reduce energy consumption amid mounting pressure on power supplies. The move is part of a broader austerity drive aimed at easing the country's energy burden and cutting costs. While officials say the restrictions are necessary to manage resources more efficiently, many business owners worry about the impact on sales and livelihoods. The decision highlights the ongoing challenges facing Pakistan's economy and energy sector.


Pakistan Reimposes 8PM Market Shutdown as Energy Crisis Deepens

It was six men of Indostan To learning much inclined, Who went to see the Elephant (Though all of them were blind), That each by observation Might satisfy his mind.&nbsp;While India’s economy is facing what looks like multiple challenges, what I thought of this week was chemistry, not economics. With good reason. In my high school chemistry, I learnt about how German chemist August Kekule discovered the structure of benzene, which has six carbon atoms arranged in a cyclical form. The legend goes that he solved the puzzle of the benzene molecule while dozing by the fire where he had a daydream about a snake twisting and biting its own tail, inspiring a closed ring.&nbsp;As Finance Minister Nirmala Sitharaman spoke this week about three Fs being India’s challenge, I was wondering if we need to understand the cyclical structure of some key factors affecting the country’s economy to get a hang of what is going on. Ms Sitharaman mentioned fuel, fertiliser and foreign exchange reserves as the top challenges. Her speech’s alliterative charm aside, it all may have to do with some other letters, such as H for Hormuz or H1B, IT for information technology and AI for artificial intelligence. There are those who might expand her third F to include FDI and FPI – foreign direct investment and foreign portfolio investments.&nbsp;It seems this is a season for blame-games and casual diagnostics as economists dig up their own reason to explain what went wrong as the Indian rupee touched Rs 96 to the US dollar with oil prices surging and the crisis around the Strait of Hormuz blocked India’s easy access to vital fuel and fertiiser links with West Asia.&nbsp;One economist mentioned a lack of fresh reform as the reason for FDI stalling for the past couple of years or so. Another, with a similar fund-management orientation, spoke of how India is a laggard in the AI game, and thereby unattractive to foreign portfolio investors who have pulled out an estimated $40 billion out of the Indian markets over the past year.&nbsp;Yet another economist murmured about how Supreme Court cases linked to investments discouraged investors. One more pointed to Prime Minister Narendra Modi’s BJP rule having a deleterious effect on social harmony through its Hindutva ideology that in turn affected investor mood. It seems like “The Blind Men And the Elephant” in the poem with that title, economists have their own favourite way to describe a downturn in the economy.&nbsp;&nbsp;Strangely enough, they remind me of the six carbon atoms of the benzene molecule – each one partly right as they blindly grope a giant economy to describe its shape, much like the blind men who felt various parts of the elephant in the poem by John Godfrey Saxe seven years after Kekule dreamt of that benzene snake.&nbsp;I would like instead to point out to some strange phenomena that we often overlook. India survived the balance of payments crisis of 1991 with a structural adjustment loan from the International Monetary Fund (IMF) and then survived three more shocks in the decade that followed: the Asian financial crisis of 1997 that saw the region’s currencies battered by capital flight and the US sanctions linked to nuclear tests staged in 1998 by Prime Minister Atal Behari Vajpayee’s BJP-led government and the Internet “dotcom” crash circa 2000.&nbsp;Having been there and seen all that, the problem seems hardly like a crisis to me, but what strikes me is the way Indians take much for granted, including the grand assumption that imported cooking gas is a birthright. Unlike the 1990s. Indians can now easily invest abroad, gorge on imported chocolates and olives, take overseas holidays and get their teenagers educated abroad – all aided by IT and IT-enabled services exports and inward remittances from overseas Indians many of whom are able to send money back home to Bharat because of their IT connection. From $4 billion circa 1998 to $246 billion in 2025/26, software and allied exports have actually helped stabilise foreign exchange reserves in India at high levels, dramatically lowering the external threats to the economy.&nbsp;&nbsp;As the world’s largest recipient of remittances, India’s forex inflows on that account grew from $10 billion in 1998 to a record $135 billion in 2024/25. Total reserves have fallen from $728 billion in late February to $ 689 billion in mid-May triggering a forex crunch. Look hard, and most of it can be blamed on the US-Iran war and the oil shock that it triggered. No doubt, the government was not fully prepared for this. But the elephant in the room (there we go again with that elephant metaphor) is the Hormuz crisis and India’s blow-hot-blow-cold relations with the US, which last August imposed hefty 25% and later 50% tariffs on Indian imports months before its Operation Epic Fury that hit Iran in late February.&nbsp;The real issue for India now is how to deal with the Trump administration in the US, which has now tightened restrictions on Green Card applications and H1B visas that hurt Indians most. This may hinder or stymie remittances as well as IT exports, apart from the AI threat that is off-putting both stock market investors and cautious IT watchers.&nbsp;The core issue are not Supreme Court cases or other issues cited by some economists.&nbsp;Take a look at the numbers. India’s fertiliser imports totalled about $27.2 billion in 2025/26 and crude imports cost $137.6 billion. But in the very first month of the new fiscal year that started in April, oil imports have shot up by about 60% from the year-ago period, mainly on account of surging crude prices. As recently as last year, the total of about $165 billion spent on fuel and fertilisers was significantly below the software industry’s exports.&nbsp;&nbsp;What India is witnessing thus is a mini version of what Asian economies witnessed in 1998. India’s smart economists were then clear that India should not be in a hurry to liberalise the rupee on the capital account.India has seen FPI outflows of about $40 billion in the past year, more than half of it in the past three months. It does not take a rocket scientist to link it to the whimsical ways of the US and its impact on the oil economy.&nbsp;The implications are clear. While a lot can and should be done to fix the Indian economy, roundabout long-shot tales by half-blind economists is not it. With the wisdom of smart policies that helped India in the 1990s, a lot more can be done.But the focus should be on the trade deal with the US in suspended animation. With everything from AI to visas messing up the backbone of India’s foreign exchange reserves, the Modi government needs to get the trade deal right. Everything else seems like a distraction, though not irrelevant.

As the world’s largest recipient of remittances, India’s forex inflows on that account grew from $10 billion in 1998 to a record $135 billion in 2024/25. Total reserves have fallen from $728 billion in late February to $ 689 billion in mid-May triggering a forex crunch.

It was six men of Indostan To learning much inclined, Who went to see the Elephant (Though all of them were blind), That each by observation Might satisfy his mind. While India’s economy is facing what looks like multiple challenges, what I thought of this week was chemistry, not economics. With good reason. In my high school chemistry, I learnt about how German chemist August Kekule discovered the structure of benzene, which has six carbon atoms arranged in a cyclical form. The legend goes that he solved the puzzle of the benzene molecule while dozing by the fire where he had a daydream about a snake twisting and biting its own tail, inspiring a closed ring. As Finance Minister Nirmala Sitharaman spoke this week about three Fs being India’s challenge, I was wondering if we need to understand the cyclical structure of some key factors affecting the country’s economy to get a hang of what is going on. Ms Sitharaman mentioned fuel, fertiliser and foreign exchange reserves as the top challenges. Her speech’s alliterative charm aside, it all may have to do with some other letters, such as H for Hormuz or H1B, IT for information technology and AI for artificial intelligence. There are those who might expand her third F to include FDI and FPI – foreign direct investment and foreign portfolio investments. It seems this is a season for blame-games and casual diagnostics as economists dig up their own reason to explain what went wrong as the Indian rupee touched Rs 96 to the US dollar with oil prices surging and the crisis around the Strait of Hormuz blocked India’s easy access to vital fuel and fertiiser links with West Asia. One economist mentioned a lack of fresh reform as the reason for FDI stalling for the past couple of years or so. Another, with a similar fund-management orientation, spoke of how India is a laggard in the AI game, and thereby unattractive to foreign portfolio investors who have pulled out an estimated $40 billion out of the Indian markets over the past year. Yet another economist murmured about how Supreme Court cases linked to investments discouraged investors. One more pointed to Prime Minister Narendra Modi’s BJP rule having a deleterious effect on social harmony through its Hindutva ideology that in turn affected investor mood. It seems like “The Blind Men And the Elephant” in the poem with that title, economists have their own favourite way to describe a downturn in the economy. Strangely enough, they remind me of the six carbon atoms of the benzene molecule – each one partly right as they blindly grope a giant economy to describe its shape, much like the blind men who felt various parts of the elephant in the poem by John Godfrey Saxe seven years after Kekule dreamt of that benzene snake. I would like instead to point out to some strange phenomena that we often overlook. India survived the balance of payments crisis of 1991 with a structural adjustment loan from the International Monetary Fund (IMF) and then survived three more shocks in the decade that followed: the Asian financial crisis of 1997 that saw the region’s currencies battered by capital flight and the US sanctions linked to nuclear tests staged in 1998 by Prime Minister Atal Behari Vajpayee’s BJP-led government and the Internet “dotcom” crash circa 2000. Having been there and seen all that, the problem seems hardly like a crisis to me, but what strikes me is the way Indians take much for granted, including the grand assumption that imported cooking gas is a birthright. Unlike the 1990s. Indians can now easily invest abroad, gorge on imported chocolates and olives, take overseas holidays and get their teenagers educated abroad – all aided by IT and IT-enabled services exports and inward remittances from overseas Indians many of whom are able to send money back home to Bharat because of their IT connection. From $4 billion circa 1998 to $246 billion in 2025/26, software and allied exports have actually helped stabilise foreign exchange reserves in India at high levels, dramatically lowering the external threats to the economy. As the world’s largest recipient of remittances, India’s forex inflows on that account grew from $10 billion in 1998 to a record $135 billion in 2024/25. Total reserves have fallen from $728 billion in late February to $ 689 billion in mid-May triggering a forex crunch. Look hard, and most of it can be blamed on the US-Iran war and the oil shock that it triggered. No doubt, the government was not fully prepared for this. But the elephant in the room (there we go again with that elephant metaphor) is the Hormuz crisis and India’s blow-hot-blow-cold relations with the US, which last August imposed hefty 25% and later 50% tariffs on Indian imports months before its Operation Epic Fury that hit Iran in late February. The real issue for India now is how to deal with the Trump administration in the US, which has now tightened restrictions on Green Card applications and H1B visas that hurt Indians most. This may hinder or stymie remittances as well as IT exports, apart from the AI threat that is off-putting both stock market investors and cautious IT watchers. The core issue are not Supreme Court cases or other issues cited by some economists. Take a look at the numbers. India’s fertiliser imports totalled about $27.2 billion in 2025/26 and crude imports cost $137.6 billion. But in the very first month of the new fiscal year that started in April, oil imports have shot up by about 60% from the year-ago period, mainly on account of surging crude prices. As recently as last year, the total of about $165 billion spent on fuel and fertilisers was significantly below the software industry’s exports. What India is witnessing thus is a mini version of what Asian economies witnessed in 1998. India’s smart economists were then clear that India should not be in a hurry to liberalise the rupee on the capital account. India has seen FPI outflows of about $40 billion in the past year, more than half of it in the past three months. It does not take a rocket scientist to link it to the whimsical ways of the US and its impact on the oil economy. The implications are clear. While a lot can and should be done to fix the Indian economy, roundabout long-shot tales by half-blind economists is not it. With the wisdom of smart policies that helped India in the 1990s, a lot more can be done. But the focus should be on the trade deal with the US in suspended animation. With everything from AI to visas messing up the backbone of India’s foreign exchange reserves, the Modi government needs to get the trade deal right. Everything else seems like a distraction, though not irrelevant.

As the world’s largest recipient of remittances, India’s forex inflows on that account grew from $10 billion in 1998 to a record $135 billion in 2024/25. Total reserves have fallen from $728 billion in late February to $689 billion in mid-May, triggering a forex crunch.

India’s 3F problem is not a crisis: Whimsical US is the elephant in the room

The Union government of India told a parliamentary panel on Monday that the country is prepared for disruptions from the ongoing West Asia crisis, and reserves, alternate sourcing and port planning are in place to ensure supplies. Amid disruption of global supply chains and the consequent concerns over energy security, the Centre assured a parliamentary committee that India is fully prepared to deal with any disruption and emphasised that normalcy in supplies would return within “four to five days” if the conflict eases.&nbsp;The assurance came during a nearly two-hour-long meeting of the Parliamentary Standing Committee on Transport, Tourism and Culture. The panel held discussions with senior officials from the Ministry of Ports, Shipping and Waterways on the situation arising out of the West Asia crisis. Representatives from the Ministry of External Affairs, the Ministry of Commerce and the Petroleum Ministry also briefed the committee on contingency measures being taken to safeguard India’s economic and strategic interests.&nbsp;Also Read: <a href="https://www.wionews.com/world/iran-demands-urgent-release-of-12-billion-frozen-in-qatar-before-advancing-peace-talks-with-us-1779714088498">Iran demands urgent release of $12 billion frozen in Qatar before advancing peace talks with US</a>&nbsp;&nbsp;Officials told the committee that there is “no immediate crisis” relating to energy supplies or fertiliser availability in the country despite the growing instability.&nbsp;&nbsp;

<blockquote class="twitter-tweet">Chaired an important meeting of the Parliamentary Standing Committee on Transport, Tourism &amp; Culture in New Delhi today, with detailed deliberations on the evolving West Asia crisis. Senior officials from key ministries, including External Affairs, Petroleum &amp; Natural Gas,… <a href="https://t.co/sIbgtCW39s">pic.twitter.com/sIbgtCW39s</a>&mdash; Sanjay Kumar Jha (@SanjayJhaBihar) <a href="https://twitter.com/SanjayJhaBihar/status/2058882530926051557?ref_src=twsrc%5Etfw">May 25, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;<h2>‘We have energy reserves sufficient for more than 78 days’</h2>&nbsp;The government informed the parliamentary panel that India currently has energy reserves sufficient for more than 78 days, providing a significant buffer against any prolonged disruption in shipping routes or crude supplies linked to the Strait of Hormuz.Concerns were raised over fertiliser imports since more than 30 per cent of India’s fertiliser-related supplies come through the Strait of Hormuz.&nbsp;Read Also: <a href="https://www.wionews.com/world/us-iran-deal-signing-in-a-few-days-terms-of-agreement-being-finalised-reports-1779655943195">US-Iran deal signing in a few days, terms of agreement being finalised: Reports</a>&nbsp;The officials assured the lawmakers that the government has already diversified sourcing channels and activated alternate procurement arrangements to avoid any shortage.&nbsp;&nbsp;<h2>‘There is no crisis relating to energy sources or fertiliser’</h2>&nbsp;“There is no crisis relating to energy sources or fertiliser. The government is in touch with all available markets, including the US and others,” sources quoted officials as saying during the briefing.Officials also informed the panel that extensive contingency planning has already been undertaken by concerned ministries to ensure supply chains remain functional if crisis in the region extends for a longer period.Officials handling logistics and shipping operations told the committee that if the war-like situation de-escalates, the normal movement of cargo and supplies could resume within four to five days.The West Asia conflict has impacted crude oil prices, shipping insurance costs and international trade flows.&nbsp;Also Read: <a href="https://www.wionews.com/world/us-and-iran-agree-in-principle-to-reopen-strait-of-hormuz-says-senior-official-1779651528322">US and Iran agree in principle to reopen Strait of Hormuz, says senior official</a>

<blockquote class="twitter-tweet">VIDEO | After the meeting, Sanjay Jha (<a href="https://twitter.com/SanjayJhaBihar?ref_src=twsrc%5Etfw">@SanjayJhaBihar</a>), Chairperson of the Parliamentary Standing Committee on Transport, Tourism and Culture says, &quot;You know that India has not done this, the whole world is facing, but the initiatives that have been taken, today people from… <a href="https://t.co/2jJOjw7WWE">pic.twitter.com/2jJOjw7WWE</a>&mdash; Press Trust of India (@PTI_News) <a href="https://twitter.com/PTI_News/status/2058893852266914286?ref_src=twsrc%5Etfw">May 25, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;&nbsp;&nbsp;The government is focusing on maintaining strategic reserves, diversifying import sources, and ensuring close coordination between ministries handling shipping, energy, trade and diplomacy.Officials also informed the committee about efforts being made to ensure Indian ports and shipping infrastructure remain prepared to handle rerouting or emergency cargo management requirements if the situation worsens further.&nbsp;Also Read: <a href="https://www.wionews.com/world/-trump-agreed-final-agreement-with-iran-must-remove-nuclear-danger-says-netanyahu-1779638705604">‘Trump agreed final agreement with Iran must remove nuclear danger,’ says Netanyahu</a><h2>‘Things are in control at the moment,’ says panel chief</h2>&nbsp;&nbsp;After the meeting, Sanjay Jha, Chairperson of the Parliamentary Standing Committee on Transport, Tourism and Culture said, “Things are in control at the moment.”&nbsp;“While the conflict is taking place elsewhere, we are confronting a completely new set of problems. Since it is currently unclear how long this situation will persist, the focus is on how to formulate effective long-term planning. I believe the government is doing a very commendable job.”

The government informed the parliamentary panel that India has energy reserves sufficient for more than 78 days. The officials assured the panel that the government has already diversified sourcing channels and activated alternate procurement arrangements to endure there is no shortage.

The Union government of India told a parliamentary panel on Monday that the country is prepared for disruptions from the ongoing West Asia crisis, and reserves, alternate sourcing and port planning are in place to ensure supplies. Amid disruption of global supply chains and the consequent concerns over energy security, the Centre assured a parliamentary committee that India is fully prepared to deal with any disruption and emphasised that normalcy in supplies would return within “four to five days” if the conflict eases. The assurance came during a nearly two-hour-long meeting of the Parliamentary Standing Committee on Transport, Tourism and Culture. The panel held discussions with senior officials from the Ministry of Ports, Shipping and Waterways on the situation arising out of the West Asia crisis. Representatives from the Ministry of External Affairs, the Ministry of Commerce and the Petroleum Ministry also briefed the committee on contingency measures being taken to safeguard India’s economic and strategic interests. Also Read: Iran demands urgent release of $12 billion frozen in Qatar before advancing peace talks with US Officials told the committee that there is “no immediate crisis” relating to energy supplies or fertiliser availability in the country despite the growing instability.

The government informed the parliamentary panel that India has energy reserves sufficient for more than 78 days. The officials assured the panel that the government has already diversified sourcing channels and activated alternate procurement arrangements to endure there is no shortage.

‘No immediate energy or fertiliser crisis, normalcy in 4-5 days if Iran war ends’: Govt

Iran's IRGC has created a brand new maritime authority requiring all ships to file a 'Vessel Information Declaration' before transiting the Strait of Hormuz. Here's what this means for global oil markets, tanker operators, and energy prices worldwide.

'Iran's new 'vessel declaration' rule': What it means for global oil shipping

#Gravitas Amid a deepening energy crisis, CIA Director John Ratcliffe held rare high-level talks in Havana with senior Cuban officials.


Cuba’s Power Grid Nears Complete Collapse 

Cuba is facing a worsening energy crisis after officials admitted the country has nearly run out of diesel and fuel oil, triggering widespread blackouts and growing public frustration. As shortages deepen, U.S. Senator Marco Rubio renewed calls for political change while واش Havana signaled it may consider a reported $100 million U.S. aid offer. The crisis highlights Cuba’s fragile energy system, decades of economic pressure, and the growing hardship faced by ordinary citizens.


Cuba Faces Deepening Energy Crisis as Fuel Runs Out and US Offers Aid

Prime Minister Narendra Modi on Sunday appealed to citizens to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and refraining from non-essential gold purchases. The PM's appeal comes as the global supply chains have been hit severely amid hostilities in the Middle East, leading to a sharp spurt in oil prices.India is one of the few nations in the region that has not increased the prices of petrol and diesel for domestic consumers.&nbsp;“Patriotism is not only about the willingness to sacrifice one’s life on the border. In these times, it is about living responsibly and fulfilling our duties to the nation in our daily lives,” PM Modi said in Hyderabad.&nbsp;&nbsp;

<blockquote class="twitter-tweet">ఈ రోజు ప్రపంచవ్యాప్తంగా ఏర్పడిన సవాళ్లను మనం అధిగమించాలి. విదేశీ మారక ద్రవ్యాన్ని ఆదా చేయడానికి ఏ మార్గాలైనా ఉంటే, వాటిని తప్పకుండా అనుసరించాలి. <a href="https://t.co/okLgcEkecs">pic.twitter.com/okLgcEkecs</a>&mdash; Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/2053545751683424600?ref_src=twsrc%5Etfw">May 10, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;&nbsp;The PM called for collective participation to help the nation face global economic disruptions, supply chain challenges, and rising prices.&nbsp;<h2>Reduce petrol and diesel consumption, use public transport: PM</h2>&nbsp;PM Modi urged the people to reduce petrol and diesel consumption by using metros and public transport wherever available, opting for carpooling and preferring the railways to transport goods.He also encouraged the use of electric vehicles.&nbsp;He called for the revival of Covid-era measures, like work from home, online conferences and virtual meetings.&nbsp;<h2>‘Avoid non-essential gold purchases’</h2>&nbsp;PM Modi also appealed to the people to avoid overseas vacations and foreign weddings to save foreign exchange reserves. He also urged citizens to avoid non-essential gold purchases for one year and asked families to reduce edible oil consumption.&nbsp;PM Modi exhorted the people to prioritise Made-in-India and locally manufactured products, including daily-use items such as shoes, bags, and accessories.&nbsp;The prime minister asked the farmers to reduce the usage of chemical fertilisers by 50 per cent and adopt solar-powered irrigation pumps instead of diesel pumps in agriculture.&nbsp;&nbsp;Due to the cascading effect of the oil shock, the prices of several other imports are also steadily rising, depleting the nation’s foreign exchange reserves.

PM Narendra Modi urged the people to reduce petrol and diesel consumption by using metros and public transport, opting for carpooling and preferring the railways to transport goods. He called for the revival of Covid-era measures, like work from home and virtual meetings.

Prime Minister Narendra Modi on Sunday appealed to citizens to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and refraining from non-essential gold purchases. The PM's appeal comes as the global supply chains have been hit severely amid hostilities in the Middle East, leading to a sharp spurt in oil prices. India is one of the few nations in the region that has not increased the prices of petrol and diesel for domestic consumers. “Patriotism is not only about the willingness to sacrifice one’s life on the border. In these times, it is about living responsibly and fulfilling our duties to the nation in our daily lives,” PM Modi said in Hyderabad.

PM Narendra Modi urged the people to reduce petrol and diesel consumption by using metros and public transport, opting for carpooling and preferring the railways to transport goods. He called for the revival of Covid-era measures, like work from home and virtual meetings.

‘Curb fuel use, avoid foreign travel and buying gold,’ PM Modi appeals nation to help tide over crisis

Asia’s deep dependence on Gulf oil is now turning into a major economic vulnerability. As the energy crisis disrupts global supply chains, Asian economies are facing rising fuel prices, slowing growth, and mounting inflation pressures.


Asia’s Gulf Oil Imports Drop 30% in April

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‘Curb fuel use, avoid foreign travel and buying gold,’ appeals PM Modi

Asia’s Gulf Oil Imports Drop 30% in April