Oil prices climbed sharply after fresh fighting in the Gulf reignited concerns over global energy supplies. The renewed escalation has put the spotlight back on the Strait of Hormuz, a critical shipping route for global oil exports.


Asian markets slide as West Asia conflict escalates 

Global markets are reeling this week as a sudden flare-up in West Asia sends shockwaves through the financial world. Following President Trump’s declaration that the ceasefire with Iran is effectively over—triggered by fresh exchanges of strikes near the critical Strait of Hormuz—investors have pivoted toward "risk-off" sentiment.

Geopolitical tensions in West Asia trigger volatility this week 

Prime Minister Modi speaks with Iran's President Pezeshkian. Prime Minister Modi welcomed the understanding reached, and reiterated India’s consistent position that all issues must be resolved through dialogue and diplomacy. The Indian Prime Minister reiterated the need for continued efforts to ensure lasting peace and stability in the region, and for safeguarding freedom of navigation and commerce.


PM Modi holds telephonic conversation with Iranian President 

Indian Prime Minister Narendra Modi has been invited to attend the funeral ceremonies of Iran’s Supreme Leader Ayatollah Ali Khamenei, scheduled to begin on July 4. The development, if confirmed, is expected to draw significant global attention given Khamenei’s long-standing influence in Iranian and regional politics. As world leaders weigh their participation, diplomatic sensitivities and geopolitical implications are coming into sharp focus across international capitals.


Iran Invites PM Modi To Ayatollah Khamenei’s Funeral 

Iran on Wednesday (June 24) said the deal between Iran and the United States to end the West Asia war is "America's declaration of defeat". &nbsp;"The Islamabad understanding was not the result of pressure and coercion, but rather the result of the resistance and authority of the brave Iranian nation," Mohammad Bagher Ghalibaf, the head of the Iranian negotiating team, said at a conference in Azerbaijan broadcast on Iranian television.&nbsp;"That is why the Islamabad Memorandum of Understanding became a declaration of America's defeat," he said, and added that the countries of the region must ensure security in the Middle East. Later, he also said that nations in the region should determine the Middle East’s political and security order, emphasising expanded intra-regional cooperation.&nbsp;Also read: <a href="https://www.wionews.com/world/who-will-pay-for-iran-s-300bn-reconstruction-fund-under-mou-this-is-what-we-know-1782299801226">Who will pay for Iran’s $300bn reconstruction fund under MoU? This is what we know</a><h3>Israel-Lebanon 'pilot' initiative</h3>In another development, negotiations between Israel and Lebanon are reportedly centred on a US-backed proposal under which Israeli forces would transfer control of parts of the territory captured during the conflict with Hezbollah to the Lebanese army, according to officials from both countries. The proposed "pilot" initiative is currently being examined as part of the latest round of discussions between the two sides. Meanwhile, Iranian nuclear enrichment facilities are expected to be inspected by officials from the International Atomic Energy Agency (IAEA), according to the agency's chief, Rafael Mariano Grossi, speaking in Tokyo on Wednesday. His remarks come amid disagreements between Iran and the United States over whether enrichment sites damaged in recent strikes would be subject to inspections. The inspections are considered crucial to the agreement, which requires Iran to dilute its stockpile of highly enriched uranium to lower enrichment levels.&nbsp;International Atomic Energy Agency head Rafael Mariano Grossi's remark was the firmest yet from the United Nations agency, which is considered significant in determining the status of Iran's nuclear stockpile. &nbsp;

Iran on Wednesday described the agreement with the US to end the West Asia conflict as a "declaration of America's defeat". Iranian official Mohammad Bagher Ghalibaf said the deal reflected Iran's resilience and urged regional nations to take responsibility for Middle East security.

Iran on Wednesday (June 24) said the deal between Iran and the United States to end the West Asia war is "America's declaration of defeat". "The Islamabad understanding was not the result of pressure and coercion, but rather the result of the resistance and authority of the brave Iranian nation," Mohammad Bagher Ghalibaf, the head of the Iranian negotiating team, said at a conference in Azerbaijan broadcast on Iranian television. "That is why the Islamabad Memorandum of Understanding became a declaration of America's defeat," he said, and added that the countries of the region must ensure security in the Middle East. Later, he also said that nations in the region should determine the Middle East’s political and security order, emphasising expanded intra-regional cooperation. Also read: Who will pay for Iran’s $300bn reconstruction fund under MoU? This is what we know Israel-Lebanon 'pilot' initiative In another development, negotiations between Israel and Lebanon are reportedly centred on a US-backed proposal under which Israeli forces would transfer control of parts of the territory captured during the conflict with Hezbollah to the Lebanese army, according to officials from both countries. The proposed "pilot" initiative is currently being examined as part of the latest round of discussions between the two sides. Meanwhile, Iranian nuclear enrichment facilities are expected to be inspected by officials from the International Atomic Energy Agency (IAEA), according to the agency's chief, Rafael Mariano Grossi, speaking in Tokyo on Wednesday. His remarks come amid disagreements between Iran and the United States over whether enrichment sites damaged in recent strikes would be subject to inspections. The inspections are considered crucial to the agreement, which requires Iran to dilute its stockpile of highly enriched uranium to lower enrichment levels. International Atomic Energy Agency head Rafael Mariano Grossi's remark was the firmest yet from the United Nations agency, which is considered significant in determining the status of Iran's nuclear stockpile.

Iran on Wednesday described the agreement with the US to end the West Asia conflict as a "declaration of America's defeat". Iranian official Mohammad Bagher Ghalibaf said the deal reflected Iran's resilience and urged regional nations to take responsibility for Middle East security.

Iran calls agreement with US to end West Asia conflict 'declaration of America's defeat'

US President Donald Trump described the U.S.-Iran agreement as a “very strong deal” even though “nobody knows what it is.” Speaking during a bilateral meeting with the Egyptian president, Abdel-Fattah el-Sisi, Trump was questioned about the memorandum of understanding between the US and Iran. He also acknowledged that the details have not yet been made public.&nbsp;Trump said, "It’s a very strong deal. Nobody knows what it is, but it’s very strong, and most people seem to be very happy," expressing confidence in the agreement despite its undisclosed terms.&nbsp;Earlier in the day, Trump also warned that America ⁠could ​launch a bombing if he did not like it, as the memorandum of understanding on Iran was not final. “It’s a memorandum ​of ​understanding. And if ⁠I don’t like it, we’ll go back ‌to shooting at them, dropping bombs on their head. If I don’t like it, if they don’t behave, ⁠we’ll ⁠go right back to dropping bombs right smack ⁠in ‌the middle ​of their head, ‌OK?” said Donald Trump, at the G7 summit in ‌France.&nbsp;Trump ​stated that ​the memorandum of understanding with Iran did not include ​immediate sanctions relief for Tehran. Trump issued his fresh warning after Leaders at the Group of Seven summit gave their support behind the tentative agreement of the US and Iran to open the Strait of Hormuz, extending a shaky ceasefire.&nbsp;The leaders, in a joint declaration released overnight, described the deal as a historic opportunity to stop Iran from obtaining nuclear weapons and to address concerns over its regional and ballistic missile activities. They also expressed their willingness to support the deal's implementation, although neither the White House nor Iran has released the text of the agreement.&nbsp;Also read: <a href="https://www.wionews.com/world/closest-and-most-trusted-partner-bhutan-hails-india-s-role-in-strengthening-its-healthcare-system-medical-education-1781693402051">WION Health Pulse: 'Closest and most trusted partner': Bhutan hails India's role in strengthening its healthcare system</a><h3>Iran to reopen the Strait of Hormuz?</h3>According to leaked versions of an interim framework, Iran would move quickly to reopen the Strait of Hormuz once the agreement is signed and would be permitted to export its oil without restrictions. Officials familiar with the matter said the leaked document largely reflects the actual terms of the accord, according to several reports. The agreement, which is expected to be formally signed at a ceremony in Switzerland on Friday, states that the United States would work towards lifting all US and United Nations sanctions on Iran if a final settlement on Tehran’s nuclear programme is achieved.&nbsp;However, Trump indicated that the details remain confidential. Speaking during a bilateral meeting with Egyptian President Abdel-Fattah el-Sisi, he told reporters, “Nobody knows what it is, but it’s very strong.” The final day of summit talks began late with Trump, saying “I’m the boss” as he entered the room and sat next to host French President Emmanuel Macron. The assembled leaders laughed, and Trump grinned.&nbsp;

Trump issued his fresh warning after Leaders at the Group of Seven summit gave their support behind the tentative agreement of the US and Iran to open the Strait of Hormuz, extending a shaky ceasefire.

US President Donald Trump described the U.S.-Iran agreement as a “very strong deal” even though “nobody knows what it is.” Speaking during a bilateral meeting with the Egyptian president, Abdel-Fattah el-Sisi, Trump was questioned about the memorandum of understanding between the US and Iran. He also acknowledged that the details have not yet been made public. Trump said, "It’s a very strong deal. Nobody knows what it is, but it’s very strong, and most people seem to be very happy," expressing confidence in the agreement despite its undisclosed terms. Earlier in the day, Trump also warned that America ⁠could launch a bombing if he did not like it, as the memorandum of understanding on Iran was not final. “It’s a memorandum of understanding. And if ⁠I don’t like it, we’ll go back ‌to shooting at them, dropping bombs on their head. If I don’t like it, if they don’t behave, ⁠we’ll ⁠go right back to dropping bombs right smack ⁠in ‌the middle of their head, ‌OK?” said Donald Trump, at the G7 summit in ‌France. Trump stated that the memorandum of understanding with Iran did not include immediate sanctions relief for Tehran. Trump issued his fresh warning after Leaders at the Group of Seven summit gave their support behind the tentative agreement of the US and Iran to open the Strait of Hormuz, extending a shaky ceasefire. The leaders, in a joint declaration released overnight, described the deal as a historic opportunity to stop Iran from obtaining nuclear weapons and to address concerns over its regional and ballistic missile activities. They also expressed their willingness to support the deal's implementation, although neither the White House nor Iran has released the text of the agreement. Also read: WION Health Pulse: 'Closest and most trusted partner': Bhutan hails India's role in strengthening its healthcare system Iran to reopen the Strait of Hormuz? According to leaked versions of an interim framework, Iran would move quickly to reopen the Strait of Hormuz once the agreement is signed and would be permitted to export its oil without restrictions. Officials familiar with the matter said the leaked document largely reflects the actual terms of the accord, according to several reports. The agreement, which is expected to be formally signed at a ceremony in Switzerland on Friday, states that the United States would work towards lifting all US and United Nations sanctions on Iran if a final settlement on Tehran’s nuclear programme is achieved. However, Trump indicated that the details remain confidential. Speaking during a bilateral meeting with Egyptian President Abdel-Fattah el-Sisi, he told reporters, “Nobody knows what it is, but it’s very strong.” The final day of summit talks began late with Trump, saying “I’m the boss” as he entered the room and sat next to host French President Emmanuel Macron. The assembled leaders laughed, and Trump grinned.

Trump issued his fresh warning after Leaders at the Group of Seven summit gave their support behind the tentative agreement of the US and Iran to open the Strait of Hormuz, extending a shaky ceasefire.

‘Nobody knows what it is, but it’s very strong’: Trump on US-Iran deal

The mortal remains of two Indian sailors who tragically lost their lives in the recent missile attack on the merchant vessel MT Settebello in the Gulf of Oman have been repatriated to India. The development marks a major step forward in a tragedy that has sparked diplomatic concern and renewed scrutiny over the safety of civilian vessels operating in conflict-prone waters. Confirming the development on Wednesday, the Indian Embassy in Oman said, "The mortal remains of Mr Aditya Sharma and Mr Shivanand Chaurasiya, who tragically lost their lives in the attack on MT Settebello, have been repatriated to India. Our heartfelt condolences remain with their families during this difficult time".&nbsp;Also read: <a href="https://www.wionews.com/india-news/seafarers-must-work-without-fear-pm-modi-tells-g7-leaders-including-trump-flags-deaths-of-indian-sailors-in-us-strike-1781676407489">'Seafarers must work without fear': PM Modi tells G7 leaders, including Trump; flags deaths of Indian sailors in US strike</a><h3>End of uncertainty</h3>The repatriation of the remains ends weeks of uncertainty and grief for the families of the deceased crew members, including 23-year-old deck cadet Aditya Sharma from Himachal Pradesh’s Hamirpur district. His family had repeatedly appealed for help in bringing his remains back to India so that they could perform his final rites.

<blockquote class="twitter-tweet">The mortal remains of Mr. Aditya Sharma and Mr. Shivanand Chaurasiya, who tragically lost their lives in the attack on MT Settebello, have been repatriated to India. Our heartfelt condolences remain with their families during this difficult time.<a href="https://x.com/MEAIndia?ref_src=twsrc%5Etfw">@MEAIndia</a> <a href="https://x.com/SecretaryCPVOIA?ref_src=twsrc%5Etfw">@SecretaryCPVOIA</a>…&mdash; India in Oman (Embassy of India, Muscat) (@Indemb_Muscat) <a href="https://x.com/Indemb_Muscat/status/2067121124706832665?ref_src=twsrc%5Etfw">June 17, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

Aditya's father, Rajeev Sharma, had sought assistance from Chief Minister Sukhvinder Singh Sukhu and Member of Parliament Anurag Thakur, while also calling for greater transparency regarding the circumstances surrounding the fatal attack. According to family members, Aditya was due to return home shortly and had extended his contract on the ship by just one additional month. The incident took place on June 10 when the MT Settebello, a Palau-registered oil tanker carrying 24 Indian crew members, was attacked about 30 nautical miles off the coast of Sohar, Oman. The Indian Embassy said Oman’s Maritime Security Centre was promptly alerted, following which local authorities initiated search-and-rescue efforts. Of the 24 Indian nationals on board, 21 were rescued and have since started returning home safely. However, three Indian seafarers lost their lives in the attack. Before their departure, Indian Ambassador to Oman Prashant Pise met the survivors, expressed solidarity with them, and praised their courage and perseverance in the aftermath of the incident.

The incident took place on June 10 when the MT Settebello, a Palau-registered oil tanker carrying 24 Indian crew members, was attacked about 30 nautical miles off the coast of Sohar, Oman.

The mortal remains of two Indian sailors who tragically lost their lives in the recent missile attack on the merchant vessel MT Settebello in the Gulf of Oman have been repatriated to India. The development marks a major step forward in a tragedy that has sparked diplomatic concern and renewed scrutiny over the safety of civilian vessels operating in conflict-prone waters. Confirming the development on Wednesday, the Indian Embassy in Oman said, "The mortal remains of Mr Aditya Sharma and Mr Shivanand Chaurasiya, who tragically lost their lives in the attack on MT Settebello, have been repatriated to India. Our heartfelt condolences remain with their families during this difficult time". Also read: 'Seafarers must work without fear': PM Modi tells G7 leaders, including Trump; flags deaths of Indian sailors in US strike End of uncertainty The repatriation of the remains ends weeks of uncertainty and grief for the families of the deceased crew members, including 23-year-old deck cadet Aditya Sharma from Himachal Pradesh’s Hamirpur district. His family had repeatedly appealed for help in bringing his remains back to India so that they could perform his final rites.

The incident took place on June 10 when the MT Settebello, a Palau-registered oil tanker carrying 24 Indian crew members, was attacked about 30 nautical miles off the coast of Sohar, Oman.

Bodies of 2 Indian sailors killed in Gulf of Oman after US strike brought home

US President Donald Trump warned on Tuesday that “all hell will rain down” on Iran if it attempts to procure a nuclear weapon. Referring to the agreement with Tehra, Trump said that his primary concern is ensuring that Iran never acquires a nuclear weapon, adding that the ‌proposed agreement makes that objective unmistakably clear. According to several media reports, Iran has long maintained that its nuclear program is intended for peaceful purposes and has not publicly committed to surrendering its stockpile of enriched uranium. It is believed to be buried under three nuclear facilities that suffered extensive damage after the US launched strikes last year. Trump is also under considerable political pressure to secure a stronger agreement than the one he abandoned during his first term. In 2018, he withdrew the United States from the 2015 nuclear accord negotiated under former President Barack Obama. The deal had eased sanctions on Tehran in exchange for restrictions on Iran's nuclear activities and international monitoring of its programme.&nbsp;Also read: <a href="https://www.wionews.com/world/iran-says-permanent-end-to-war-in-lebanon-is-inseparable-from-us-peace-deal-1781598676054">Iran says permanent end to war in Lebanon is inseparable from US peace deal</a> Following the US withdrawal, Iran significantly expanded its uranium enrichment efforts, accumulating more than 400 kilograms of material enriched to near weapons-grade levels. The future of that uranium stockpile is expected to be one of the central issues in the upcoming round of broader negotiations. &nbsp;

US President Donald Trump warned that “all hell will rain down” on Iran if it seeks a nuclear weapon. He said any future deal must ensure Tehran never acquires one. Iran, however, continues to insist its nuclear programme is peaceful despite concerns over its uranium stockpile.

US President Donald Trump warned on Tuesday that “all hell will rain down” on Iran if it attempts to procure a nuclear weapon. Referring to the agreement with Tehra, Trump said that his primary concern is ensuring that Iran never acquires a nuclear weapon, adding that the ‌proposed agreement makes that objective unmistakably clear. According to several media reports, Iran has long maintained that its nuclear program is intended for peaceful purposes and has not publicly committed to surrendering its stockpile of enriched uranium. It is believed to be buried under three nuclear facilities that suffered extensive damage after the US launched strikes last year. Trump is also under considerable political pressure to secure a stronger agreement than the one he abandoned during his first term. In 2018, he withdrew the United States from the 2015 nuclear accord negotiated under former President Barack Obama. The deal had eased sanctions on Tehran in exchange for restrictions on Iran's nuclear activities and international monitoring of its programme. Also read: Iran says permanent end to war in Lebanon is inseparable from US peace deal Following the US withdrawal, Iran significantly expanded its uranium enrichment efforts, accumulating more than 400 kilograms of material enriched to near weapons-grade levels. The future of that uranium stockpile is expected to be one of the central issues in the upcoming round of broader negotiations.

US President Donald Trump warned that “all hell will rain down” on Iran if it seeks a nuclear weapon. He said any future deal must ensure Tehran never acquires one. Iran, however, continues to insist its nuclear programme is peaceful despite concerns over its uranium stockpile.

Donald Trump warns ‘all hell will rain down’ if Iran pursues nuclear weapons

Israel is reportedly preparing one of its largest settlement expansion plans in years, a move that could further heighten tensions in the region and draw international scrutiny. The reported expansion has sparked concerns over the future of peace negotiations, Palestinian territories, and the broader geopolitical situation in the Middle East. Critics warn the move could deepen divisions, while supporters argue it strengthens Israel’s strategic and security interests.

Israel is Reportedly Preparing for One of Its Biggest Settlement Expansion Plans

US oil inventories and lower crude imports by China have helped ease pressure on the global oil market. However, supply condition could tighten if China ramps refinery activity and increasing domestic demand persist, then it may tighten supplies resulting in China to increases imports in the coming months, according to a report by ANZ. The report noted that China's crude oil imports fell sharply following the closure of the Strait of Hormuz, dropping from roughly 12.5 million barrels per day (mb/d) to about 2.5 mb/d. This decline has resulted in cumulative savings of more than 60 million barrels compared with levels seen before the escalation. "Assuming imports would have stayed at the levels they were at prior to late February's escalation of the Middle East conflict, the cumulative amount saved by China's reduced purchases is more than 60mbbl," the report said.The development comes amid growing concerns over oil demand. The report also suggest that soft manufacturing activity due to increasing electric vehicle adoption, reduced domestic flights and constrained petrochemical feedstock imports from the Middle East have likely reduced the oil demand of China by around 1 mb/d over the past month or so. "This has been exacerbated by a slowdown in refining activity, reflecting high crude premiums, elevated freight and insurance costs and issues over refining and inventory valuation losses. Even so, we don't expect this to be a long-term trend. A gradual rebound in mobility and feedstock flows improve things," the report said.&nbsp;Also read: <a href="https://www.wionews.com/world/south-korea-hits-e-commerce-giant-with-record-400m-fine-over-data-leak-nearly-37-5m-users-affected-1781169944677">South Korea hits e-commerce giant with record $400m fine over data leak, nearly 37.5m users affected</a><h3>China's relies on domestic oil stockpiles</h3>The report also suggests that China has increasingly relied on its domestic oil stockpiles in recent months. It noted that the global market was able to absorb the additional OPEC supply in 2025, following the group's decision to reverse production cuts of 2.2 million barrels per day, largely because China took in much of the excess crude. China's oil inventories have expanded by an estimated 190 million barrels since the start of 2025, bringing total stockpiles to roughly 1.7 billion barrels. The report further noted that China has mainly managed supply shortages by cutting refinery operating rates rather than significantly drawing down its strategic petroleum reserves. However, analysts warned that this strategy may not be sustainable over the long term. "Any shift in this dynamic will have major repercussions for the oil market. If China is reluctant to dip heavily into its strategic reserves, we should see imports rise in coming months, which could further tighten the physical market," the report said.

US inventories and low Chinese imports eased global oil market pressure. However, ANZ reports China saved 60mbbl by cutting imports from 12.5 to 2.5 mb/d after the Hormuz closed. If China ramps up refining and stops relying on its 1.7bn bbl domestic stockpile, global supplies may tighten.

US oil inventories and lower crude imports by China have helped ease pressure on the global oil market. However, supply condition could tighten if China ramps refinery activity and increasing domestic demand persist, then it may tighten supplies resulting in China to increases imports in the coming months, according to a report by ANZ. The report noted that China's crude oil imports fell sharply following the closure of the Strait of Hormuz, dropping from roughly 12.5 million barrels per day (mb/d) to about 2.5 mb/d. This decline has resulted in cumulative savings of more than 60 million barrels compared with levels seen before the escalation. "Assuming imports would have stayed at the levels they were at prior to late February's escalation of the Middle East conflict, the cumulative amount saved by China's reduced purchases is more than 60mbbl," the report said. The development comes amid growing concerns over oil demand. The report also suggest that soft manufacturing activity due to increasing electric vehicle adoption, reduced domestic flights and constrained petrochemical feedstock imports from the Middle East have likely reduced the oil demand of China by around 1 mb/d over the past month or so. "This has been exacerbated by a slowdown in refining activity, reflecting high crude premiums, elevated freight and insurance costs and issues over refining and inventory valuation losses. Even so, we don't expect this to be a long-term trend. A gradual rebound in mobility and feedstock flows improve things," the report said. Also read: South Korea hits e-commerce giant with record $400m fine over data leak, nearly 37.5m users affected China's relies on domestic oil stockpiles The report also suggests that China has increasingly relied on its domestic oil stockpiles in recent months. It noted that the global market was able to absorb the additional OPEC supply in 2025, following the group's decision to reverse production cuts of 2.2 million barrels per day, largely because China took in much of the excess crude. China's oil inventories have expanded by an estimated 190 million barrels since the start of 2025, bringing total stockpiles to roughly 1.7 billion barrels. The report further noted that China has mainly managed supply shortages by cutting refinery operating rates rather than significantly drawing down its strategic petroleum reserves. However, analysts warned that this strategy may not be sustainable over the long term. "Any shift in this dynamic will have major repercussions for the oil market. If China is reluctant to dip heavily into its strategic reserves, we should see imports rise in coming months, which could further tighten the physical market," the report said.

US inventories and low Chinese imports eased global oil market pressure. However, ANZ reports China saved 60mbbl by cutting imports from 12.5 to 2.5 mb/d after the Hormuz closed. If China ramps up refining and stops relying on its 1.7bn bbl domestic stockpile, global supplies may tighten.

Global oil market could faces new crisis as China may increase imports, says reports

The IDF confirmed on Monday (June 8) of launching airstrikes on Iranian petrochemical facilities in southwest Iran. In a statement, the military stated that the Israeli Air Force struck “several targets” at the petrochemical complex in the Mahshahr area, with more inputs related to the action will be provided later. The move followed after Iran fired at Israel early morning after Israel’s military claimed to have launched strikes on military targets in central and western Iran early this morning. The latest exchange unfolded after US President Trump reportedly told the Israeli Prime Minister Benjamin Netanyahu to avoid any attacks on Iran. Israel said its latest strikes were carried out in response to an Iranian missile attack on northern Israel a day earlier, which itself had been launched following Israeli operations against Hezbollah targets in Beirut. The attack marked Israel's first direct strike on Iran since a ceasefire took effect two months ago. Iranian state media reported explosions in several cities, including Tehran, Isfahan, Tabriz and Najafabad.&nbsp;Also read: <a href="https://www.wionews.com/world/houthis-joining-renewed-iran-war-israel-intercepts-missile-from-yemen-what-s-happening-1780893143493">Houthis join renewed Iran war? Israel intercepts missile from Yemen - What's happening</a><h3>Iran accuses Israel of breaching ceasefire&nbsp;</h3>On the previous night, Iran launched multiple missile barrages at northern Israel, marking the first such attack since the truce was established in April. Additional rockets were later fired towards Jerusalem and parts of central and southern Israel. Iran accused Israel of breaching the ceasefire after conducting strikes in Beirut's southern suburbs, where at least two people were reportedly killed. Israel's military said those attacks were a response to rocket fire launched at northern Israel by the Iran-backed Hezbollah group.&nbsp;The US has been putting pressure on Israel to hold off on its attacks in Lebanon, allowing Washington a space for a regional deal with Iran. In response, Israel has sought to separate the two military fronts. However, in another widening escalation, a missile was also launched at Israel from Yemen this morning - a place for the Iran-backed Houthis. Meanwhile, Prime Minister Benjamin Netanyahu is set to hold a security cabinet meeting at 11 am amid escalation with Iran, an Israeli official told The Times of Israel. During the meeting, only a small group of important ministers will be present. &nbsp;

The US has been putting pressure on Israel to hold off on its attacks in Lebanon, allowing Washington a space for a regional deal with Iran. In response, Israel has sought to separate the two military fronts.

The IDF confirmed on Monday (June 8) of launching airstrikes on Iranian petrochemical facilities in southwest Iran. In a statement, the military stated that the Israeli Air Force struck “several targets” at the petrochemical complex in the Mahshahr area, with more inputs related to the action will be provided later. The move followed after Iran fired at Israel early morning after Israel’s military claimed to have launched strikes on military targets in central and western Iran early this morning. The latest exchange unfolded after US President Trump reportedly told the Israeli Prime Minister Benjamin Netanyahu to avoid any attacks on Iran. Israel said its latest strikes were carried out in response to an Iranian missile attack on northern Israel a day earlier, which itself had been launched following Israeli operations against Hezbollah targets in Beirut. The attack marked Israel's first direct strike on Iran since a ceasefire took effect two months ago. Iranian state media reported explosions in several cities, including Tehran, Isfahan, Tabriz and Najafabad. Also read: Houthis join renewed Iran war? Israel intercepts missile from Yemen - What's happening Iran accuses Israel of breaching ceasefire On the previous night, Iran launched multiple missile barrages at northern Israel, marking the first such attack since the truce was established in April. Additional rockets were later fired towards Jerusalem and parts of central and southern Israel. Iran accused Israel of breaching the ceasefire after conducting strikes in Beirut's southern suburbs, where at least two people were reportedly killed. Israel's military said those attacks were a response to rocket fire launched at northern Israel by the Iran-backed Hezbollah group. The US has been putting pressure on Israel to hold off on its attacks in Lebanon, allowing Washington a space for a regional deal with Iran. In response, Israel has sought to separate the two military fronts. However, in another widening escalation, a missile was also launched at Israel from Yemen this morning - a place for the Iran-backed Houthis. Meanwhile, Prime Minister Benjamin Netanyahu is set to hold a security cabinet meeting at 11 am amid escalation with Iran, an Israeli official told The Times of Israel. During the meeting, only a small group of important ministers will be present.

The US has been putting pressure on Israel to hold off on its attacks in Lebanon, allowing Washington a space for a regional deal with Iran. In response, Israel has sought to separate the two military fronts.

Israel strikes Iranian Petrochemical facilities after fresh missile exchange, Netanyahu to hold security meeting

Households across India will now pay more for cooking gas after the price of domestic liquefied petroleum gas (LPG) was increased by ₹29 per 14.2-kg cylinder, marking the second hike in three months amid sustained pressure from elevated global energy costs.PTI, citing industry sources, said the price of a domestic LPG cylinder in Delhi has been revised upwards to ₹942 from ₹913, effective June 7.&nbsp;The latest revision follows an earlier increase of ₹60 per cylinder on March 7, when state-owned oil marketing companies raised prices after disruptions in global energy markets linked to the conflict in West Asia.&nbsp;Also Read: <a href="https://www.wionews.com/world/spying-among-friends-pentagon-s-secret-israel-alert-revives-explosive-snowden-claims-1780767454185">‘Spying among friends’? Pentagon’s SECRET Israel alert revives explosive Snowden claims</a><h2>Oil firms continue to face losses</h2>According to industry estimates, as cited by PTI, oil marketing companies were losing around ₹703 per domestic LPG cylinder before the latest revision.&nbsp;Officials said the losses have widened due to persistently high international energy prices, which have pushed up the cost of importing LPG and other fuels.&nbsp;The increase in LPG prices is part of a broader upward trend in fuel costs seen in recent weeks. Petrol and diesel prices have gone up by a cumulative ₹7.50 per litre since mid-May, while compressed natural gas (CNG) rates have increased by about ₹6 per kg. These revisions reflect continued volatility in global crude oil and fuel markets, driven by geopolitical tensions and supply-side concerns.&nbsp;The higher LPG price is expected to further increase household expenditure, especially for families dependent on domestic cooking gas for daily needs.&nbsp;With fuel prices rising across categories, consumers are likely to face added pressure on energy costs in the coming weeks, even as oil companies maintain that current retail rates still do not fully reflect the actual cost of supply.

The LPG price hike comes amid a broader rise in fuel costs, with petrol and diesel prices increasing by a cumulative ₹7.50 per litre since mid-May and CNG rates climbing by around ₹6 per kg.

Households across India will now pay more for cooking gas after the price of domestic liquefied petroleum gas (LPG) was increased by ₹29 per 14.2-kg cylinder, marking the second hike in three months amid sustained pressure from elevated global energy costs. PTI, citing industry sources, said the price of a domestic LPG cylinder in Delhi has been revised upwards to ₹942 from ₹913, effective June 7. The latest revision follows an earlier increase of ₹60 per cylinder on March 7, when state-owned oil marketing companies raised prices after disruptions in global energy markets linked to the conflict in West Asia. Also Read: ‘Spying among friends’? Pentagon’s SECRET Israel alert revives explosive Snowden claims Oil firms continue to face losses According to industry estimates, as cited by PTI, oil marketing companies were losing around ₹703 per domestic LPG cylinder before the latest revision. Officials said the losses have widened due to persistently high international energy prices, which have pushed up the cost of importing LPG and other fuels. The increase in LPG prices is part of a broader upward trend in fuel costs seen in recent weeks. Petrol and diesel prices have gone up by a cumulative ₹7.50 per litre since mid-May, while compressed natural gas (CNG) rates have increased by about ₹6 per kg. These revisions reflect continued volatility in global crude oil and fuel markets, driven by geopolitical tensions and supply-side concerns. The higher LPG price is expected to further increase household expenditure, especially for families dependent on domestic cooking gas for daily needs. With fuel prices rising across categories, consumers are likely to face added pressure on energy costs in the coming weeks, even as oil companies maintain that current retail rates still do not fully reflect the actual cost of supply.

The LPG price hike comes amid a broader rise in fuel costs, with petrol and diesel prices increasing by a cumulative ₹7.50 per litre since mid-May and CNG rates climbing by around ₹6 per kg.

Domestic LPG cylinder price hiked by ₹29, marking second increase in 3 months

The Reserve Bank of India has warned that a prolonged conflict in West Asia could disrupt India’s growth and inflation trajectory, even as it maintained that ‘the outlook for the Indian economy in 2026-27 remains positive, supported by strong macroeconomic fundamentals’. The RBI nevertheless retained its FY27 real GDP growth forecast at 6.9 per cent, assuming the impact of the West Asia conflict remains contained in the near term. Inflation for FY27 has been projected at 4.6 per cent, although the central bank said risks remain “tilted to the upside”.<h2>Energy Prices and Supply Chains in Focus</h2>The central bank flagged elevated crude oil and commodity prices as a key concern, warning that any escalation in the conflict could intensify inflationary pressures globally and domestically. “With continued geopolitical tensions, inflation faces upside risks. The surging energy prices and disruptions in key shipping routes could intensify supply-side pressures,” the RBI said.&nbsp;ALSO READ: <a href="https://www.wionews.com/science/are-couples-always-happier-new-study-finds-single-people-are-happier-than-those-in-unhappy-relationships-1780050331914">Are couples always happier? New study finds bad relationships may be emotionally worse than being single</a>&nbsp;The report noted that global growth could weaken to 3.1 per cent in 2026 amid the ongoing West Asia conflict. World trade volume growth, projected at 2.8 per cent in 2026, also remains vulnerable to geopolitical shifts and inflation linked to energy prices. According to the RBI, evolving growth-inflation dynamics may force central banks worldwide to carefully balance inflation control against protecting economic growth.<h2>India’s Growth Outlook Remains Positive</h2>Despite external headwinds, the RBI said India remains the world’s fastest-growing major economy, expanding by 7.6 per cent in 2025-26 compared with 7.1 per cent a year earlier. The central bank attributed this resilience to “strong domestic consumption, sustained investment, proactive policy initiatives and sound macroeconomic fundamentals”.&nbsp;ALSO READ: <a href="https://www.wionews.com/world/314-million-tax-hit-delhi-ban-hc-denies-relief-to-absolut-vodka-maker-calls-firm-ineligible-for-liquor-licence-1780039115201">‘$314 million tax hit, Delhi ban’: HC denies relief to Absolut Vodka maker, calls firm ‘ineligible’ for liquor licence</a>&nbsp;“The healthy balance sheets of the corporate and banking sectors along with the government’s continued thrust on capital expenditure bode well for India’s strong growth trajectory,” the RBI said. It also pointed to trade agreements with key partners as a potential source of further economic momentum.<h2>Banking System and Inflation Risks</h2>The RBI said India’s banking system remains resilient due to improved asset quality, stable credit growth and adequate capital buffers. However, lingering geopolitical tensions could still affect corporate earnings and loan portfolios.The report also warned that domestic bond yields could rise if global monetary easing slows in response to persistent oil price shocks. Still, the RBI expressed confidence that adequate foodgrain stocks, stable agricultural prospects and sufficient reservoir levels would help keep inflation broadly under control.

Despite external headwinds, the RBI said India remains the world’s fastest-growing major economy, expanding by 7.6 per cent in 2025-26 compared with 7.1 per cent a year earlier.

The Reserve Bank of India has warned that a prolonged conflict in West Asia could disrupt India’s growth and inflation trajectory, even as it maintained that ‘the outlook for the Indian economy in 2026-27 remains positive, supported by strong macroeconomic fundamentals’. The RBI nevertheless retained its FY27 real GDP growth forecast at 6.9 per cent, assuming the impact of the West Asia conflict remains contained in the near term. Inflation for FY27 has been projected at 4.6 per cent, although the central bank said risks remain “tilted to the upside”. Energy Prices and Supply Chains in Focus The central bank flagged elevated crude oil and commodity prices as a key concern, warning that any escalation in the conflict could intensify inflationary pressures globally and domestically. “With continued geopolitical tensions, inflation faces upside risks. The surging energy prices and disruptions in key shipping routes could intensify supply-side pressures,” the RBI said. ALSO READ: Are couples always happier? New study finds bad relationships may be emotionally worse than being single The report noted that global growth could weaken to 3.1 per cent in 2026 amid the ongoing West Asia conflict. World trade volume growth, projected at 2.8 per cent in 2026, also remains vulnerable to geopolitical shifts and inflation linked to energy prices. According to the RBI, evolving growth-inflation dynamics may force central banks worldwide to carefully balance inflation control against protecting economic growth. India’s Growth Outlook Remains Positive Despite external headwinds, the RBI said India remains the world’s fastest-growing major economy, expanding by 7.6 per cent in 2025-26 compared with 7.1 per cent a year earlier. The central bank attributed this resilience to “strong domestic consumption, sustained investment, proactive policy initiatives and sound macroeconomic fundamentals”. ALSO READ: ‘$314 million tax hit, Delhi ban’: HC denies relief to Absolut Vodka maker, calls firm ‘ineligible’ for liquor licence “The healthy balance sheets of the corporate and banking sectors along with the government’s continued thrust on capital expenditure bode well for India’s strong growth trajectory,” the RBI said. It also pointed to trade agreements with key partners as a potential source of further economic momentum. Banking System and Inflation Risks The RBI said India’s banking system remains resilient due to improved asset quality, stable credit growth and adequate capital buffers. However, lingering geopolitical tensions could still affect corporate earnings and loan portfolios. The report also warned that domestic bond yields could rise if global monetary easing slows in response to persistent oil price shocks. Still, the RBI expressed confidence that adequate foodgrain stocks, stable agricultural prospects and sufficient reservoir levels would help keep inflation broadly under control.

Despite external headwinds, the RBI said India remains the world’s fastest-growing major economy, expanding by 7.6 per cent in 2025-26 compared with 7.1 per cent a year earlier.

RBI says West Asia conflict poses short-term risks to India’s growth and inflation, FY27 GDP growth projected at 6.9%

Bharat Petroleum Corporation Limited (BPCL) director HR Raj Kumar Dubey warned that a further increase in petrol and diesel prices may become unavoidable if the ongoing energy disruptions continue globally. Highlighting the pressure on fuel retailers, Dubey indicated that policymakers currently have limited options to face the situation. “Now, there are two or three options open. One is the price hike, or the hike should be visible at the petrol pumps, either there, or the petroleum companies take up the losses and make up more and more losses. And the third is the government funds through deficit financing,” news agency ANI quoted Raj Kumar Dubey as saying. Atul Dubey said earlier expectations that crude oil price increases of 20 to 50 per cent would be short-lived are now changing, warning that the disruption may persist for a longer period. Referring to the ongoing conflict in West Asia, he said the situation appears likely to continue, citing damage to key energy infrastructure in the region. “So with this current scenario, if this scenario continues, then I think another price hike should be there,” he added. His statements came shortly after state-run oil companies raised petrol and diesel prices for the third time this month.&nbsp;Also read: <a href="https://www.wionews.com/india-news/india-advises-citizens-to-avoid-travel-to-ebola-hit-african-nations-after-who-emergency-declaration-1779607642877">India advises citizens to avoid travel to Ebola-hit African nations after WHO emergency declaration</a><h3>Petrol and diesel prices</h3>On Saturday, oil marketing companies increased petrol and diesel prices by nearly 90 paise per litre in an effort to reduce losses caused by crude oil prices staying above $100 per barrel. Following the latest hike, petrol in Delhi is priced at Rs 99.51 per litre, while diesel costs Rs 92.49 per litre. Despite the recent increases, oil companies are still facing under-recoveries of about Rs 13 per litre on petrol and Rs 38 per litre on diesel. Retail fuel prices have remained under pressure after global crude prices climbed more than 50 per cent since the start of the Iran conflict in February, affecting energy supplies through the Strait of Hormuz. Dubey further said that the crisis is likely to accelerate India’s transition towards cleaner energy sources. “With more than 200 GW of solar power installed, the momentum will increase now because the kind of foreign exchange problems this energy import bill brings, I think it will definitely accelerate towards the green energy options,” he said.

Following the latest hike, petrol in Delhi is priced at Rs 99.51 per litre, while diesel costs Rs 92.49 per litre. Despite the recent increases, oil companies are still facing under-recoveries of about Rs 13 per litre on petrol and Rs 38 per litre on diesel.

Bharat Petroleum Corporation Limited (BPCL) director HR Raj Kumar Dubey warned that a further increase in petrol and diesel prices may become unavoidable if the ongoing energy disruptions continue globally. Highlighting the pressure on fuel retailers, Dubey indicated that policymakers currently have limited options to face the situation. “Now, there are two or three options open. One is the price hike, or the hike should be visible at the petrol pumps, either there, or the petroleum companies take up the losses and make up more and more losses. And the third is the government funds through deficit financing,” news agency ANI quoted Raj Kumar Dubey as saying. Atul Dubey said earlier expectations that crude oil price increases of 20 to 50 per cent would be short-lived are now changing, warning that the disruption may persist for a longer period. Referring to the ongoing conflict in West Asia, he said the situation appears likely to continue, citing damage to key energy infrastructure in the region. “So with this current scenario, if this scenario continues, then I think another price hike should be there,” he added. His statements came shortly after state-run oil companies raised petrol and diesel prices for the third time this month. Also read: India advises citizens to avoid travel to Ebola-hit African nations after WHO emergency declaration Petrol and diesel prices On Saturday, oil marketing companies increased petrol and diesel prices by nearly 90 paise per litre in an effort to reduce losses caused by crude oil prices staying above $100 per barrel. Following the latest hike, petrol in Delhi is priced at Rs 99.51 per litre, while diesel costs Rs 92.49 per litre. Despite the recent increases, oil companies are still facing under-recoveries of about Rs 13 per litre on petrol and Rs 38 per litre on diesel. Retail fuel prices have remained under pressure after global crude prices climbed more than 50 per cent since the start of the Iran conflict in February, affecting energy supplies through the Strait of Hormuz. Dubey further said that the crisis is likely to accelerate India’s transition towards cleaner energy sources. “With more than 200 GW of solar power installed, the momentum will increase now because the kind of foreign exchange problems this energy import bill brings, I think it will definitely accelerate towards the green energy options,” he said.

Following the latest hike, petrol in Delhi is priced at Rs 99.51 per litre, while diesel costs Rs 92.49 per litre. Despite the recent increases, oil companies are still facing under-recoveries of about Rs 13 per litre on petrol and Rs 38 per litre on diesel.

Another fuel price hike likely? BPCL flags energy disruption amid Iran conflicts

Iran has laid out several conditions on Sunday (May 24) for a possible US deal, suggesting that Washington could commit to waiving sanctions on Iranian oil during the negotiation period. The reported move would allow Iran to continue selling its oil without the restrictions currently imposed under sanctions for the duration of the talks. The development comes amid negotiations that Washington and Tehran are close to signing an extension of the ceasefire by 60 days and reopening the Strait of Hormuz, according to a report by Axios. Reports suggest that if both sides approve the terms of the preliminary agreement, a memorandum of understanding (MOU) would be announced first. The proposed agreement reportedly stresses ending conflicts on all fronts, including in Lebanon. Under this reported clause, the Zionist regime, identified as a US ally, would also be required to end the war in Lebanon. Other conditions for Iran also include a 30-day timeframe that will be set for implementing measures related to the naval blockade and the Strait of Hormuz. At the same time, a separate 60-day period would be allocated for negotiations concerning the nuclear issue. According to the reports, Iran has so far not agreed to undertake any actions related to its nuclear programme.&nbsp;Also read: <a href="https://www.hindustantimes.com/world-news/us-iran-war-news-live-updates-tehran-ceasefire-deal-negotiated-white-house-shooting-trump-hormuz-marco-rubio-india-101779583975846.html">Has Iran agreed to surrender enriched uranium and reopen Hormuz in new US deal?</a><h3>Iran-US potential agreement over nuclear stockpiles</h3>Iran also emphasised in the MoU to end the war on all fronts and the withdrawal of US combat forces from Iran's surrounding environment. Meanwhile, several media and officials have claimed that "Iran has committed to a potential agreement with Washington to reduce its nuclear stockpiles, remove equipment, or shut down its facilities." However, the final draft agreement's review underscored these claims as completely unfounded.&nbsp;In response to these misleading assertions, sources familiar with the negotiations rejected what they described as misleading claims, stating that the draft of the proposed agreement between Iran and the United States contains no provisions related to Iran’s nuclear commitments. According to them, all matters concerning the nuclear programme have been postponed to a separate 60-day negotiation period that would begin after the agreement is signed.&nbsp;The sources also said that, contrary to suggestions made by some media outlets, Iran would not be required under the draft agreement to hand over its nuclear stockpiles, dismantle equipment, shut down facilities or commit to refraining from developing a nuclear weapon.&nbsp;Instead, the parties have reportedly agreed to release all or part of Iran’s frozen assets to facilitate the start of negotiations. The draft also reportedly allows maritime passage through the Strait of Hormuz at pre-conflict levels under Iran’s management, alongside the lifting of the naval blockade. In addition, sanctions targeting Iran’s oil, gas, petrochemical and related sectors would reportedly be temporarily eased during the negotiation period, enabling the country to freely export its products.

The proposed agreement reportedly stresses ending conflicts on all fronts, including in Lebanon. Under this reported clause, the Zionist regime, identified as a US ally, would also be required to end the war in Lebanon.

Iran has laid out several conditions on Sunday (May 24) for a possible US deal, suggesting that Washington could commit to waiving sanctions on Iranian oil during the negotiation period. The reported move would allow Iran to continue selling its oil without the restrictions currently imposed under sanctions for the duration of the talks. The development comes amid negotiations that Washington and Tehran are close to signing an extension of the ceasefire by 60 days and reopening the Strait of Hormuz, according to a report by Axios. Reports suggest that if both sides approve the terms of the preliminary agreement, a memorandum of understanding (MOU) would be announced first. The proposed agreement reportedly stresses ending conflicts on all fronts, including in Lebanon. Under this reported clause, the Zionist regime, identified as a US ally, would also be required to end the war in Lebanon. Other conditions for Iran also include a 30-day timeframe that will be set for implementing measures related to the naval blockade and the Strait of Hormuz. At the same time, a separate 60-day period would be allocated for negotiations concerning the nuclear issue. According to the reports, Iran has so far not agreed to undertake any actions related to its nuclear programme. Also read: Has Iran agreed to surrender enriched uranium and reopen Hormuz in new US deal? Iran-US potential agreement over nuclear stockpiles Iran also emphasised in the MoU to end the war on all fronts and the withdrawal of US combat forces from Iran's surrounding environment. Meanwhile, several media and officials have claimed that "Iran has committed to a potential agreement with Washington to reduce its nuclear stockpiles, remove equipment, or shut down its facilities." However, the final draft agreement's review underscored these claims as completely unfounded. In response to these misleading assertions, sources familiar with the negotiations rejected what they described as misleading claims, stating that the draft of the proposed agreement between Iran and the United States contains no provisions related to Iran’s nuclear commitments. According to them, all matters concerning the nuclear programme have been postponed to a separate 60-day negotiation period that would begin after the agreement is signed. The sources also said that, contrary to suggestions made by some media outlets, Iran would not be required under the draft agreement to hand over its nuclear stockpiles, dismantle equipment, shut down facilities or commit to refraining from developing a nuclear weapon. Instead, the parties have reportedly agreed to release all or part of Iran’s frozen assets to facilitate the start of negotiations. The draft also reportedly allows maritime passage through the Strait of Hormuz at pre-conflict levels under Iran’s management, alongside the lifting of the naval blockade. In addition, sanctions targeting Iran’s oil, gas, petrochemical and related sectors would reportedly be temporarily eased during the negotiation period, enabling the country to freely export its products.

The proposed agreement reportedly stresses ending conflicts on all fronts, including in Lebanon. Under this reported clause, the Zionist regime, identified as a US ally, would also be required to end the war in Lebanon.

Iran outlines conditions for possible US deal: Oil sanctions relief, frozen funds release first; no talks on nuclear field now

The Trump administration has imposed sanctions on 11 companies across China and West Asia over alleged links to restricted activities and security concerns. The move escalates economic pressure amid rising geopolitical tensions, targeting firms accused of violating international rules and supporting sensitive operations.

Trump Admin Sanctions 11 Firms Across China & West Asia

German Foreign Minister Johann Wadephul said on Sunday that he urged Iran to reopen the Strait of Hormuz and give up its nuclear weapons programme during a phone call with his Iranian counterpart Abbas Araghchi. "I emphasised that Germany supports a negotiated solution," Wadephul said in a post on X about the call. "As a close US ally, we share the same goal: Iran must completely and verifiably renounce nuclear weapons and immediately open the Strait of Hormuz, as also demanded by" US Secretary of State Marco Rubio.<h3>Iran's new 14-point proposal</h3>Iran has offered a fresh 14-point proposal to the United States in an effort to secure a lasting end to the conflict, which has exposed the limits of US military dominance and unsettled the global economy. Reacting to the new proposal on Saturday, Donald Trump said he is reviewing the offer but is not sure he can make a deal with Iran, a day after expressing dissatisfaction with an earlier offer from Tehran through the mediator Pakistan. Tehran submitted the plan to Pakistan late Thursday, with the country having earlier helped broker a ceasefire between the two sides. According to the Tasnim News Agency, the 14-point proposal was drafted in response to a nine-point US plan.&nbsp;However, weeks after the April 8 ceasefire, both sides have yet to finalise a peace agreement. Iran is seeking a permanent end to hostilities, while Trump has insisted that Tehran must first lift what he describes as an effective blockade of the Strait of Hormuz, a critical passage for global oil and gas trade. He has also drawn a firm line on Iran’s nuclear programme.&nbsp;The tensions stem from Iran’s move to restrict access to the strait following US and Israeli strikes on February 28. Meanwhile, a continued US naval blockade of Iranian ports, despite the ceasefire, has further escalated the situation.&nbsp;Also read: <a href="https://www.wionews.com/world/israel-approves-purchase-of-f-35-f-15ia-fighter-jets-from-us-what-s-in-the-deal-1777801246295">Israel approves purchase of F-35, F-15IA fighter jets from US – What’s in the deal?</a>&nbsp;

German FM Johann Wadephul urged Iran to reopen the Strait of Hormuz and abandon its nuclear programme in a call with Abbas Araghchi, backing a negotiated solution in line with the United States.

German Foreign Minister Johann Wadephul said on Sunday that he urged Iran to reopen the Strait of Hormuz and give up its nuclear weapons programme during a phone call with his Iranian counterpart Abbas Araghchi. "I emphasised that Germany supports a negotiated solution," Wadephul said in a post on X about the call. "As a close US ally, we share the same goal: Iran must completely and verifiably renounce nuclear weapons and immediately open the Strait of Hormuz, as also demanded by" US Secretary of State Marco Rubio. Iran's new 14-point proposal Iran has offered a fresh 14-point proposal to the United States in an effort to secure a lasting end to the conflict, which has exposed the limits of US military dominance and unsettled the global economy. Reacting to the new proposal on Saturday, Donald Trump said he is reviewing the offer but is not sure he can make a deal with Iran, a day after expressing dissatisfaction with an earlier offer from Tehran through the mediator Pakistan. Tehran submitted the plan to Pakistan late Thursday, with the country having earlier helped broker a ceasefire between the two sides. According to the Tasnim News Agency, the 14-point proposal was drafted in response to a nine-point US plan. However, weeks after the April 8 ceasefire, both sides have yet to finalise a peace agreement. Iran is seeking a permanent end to hostilities, while Trump has insisted that Tehran must first lift what he describes as an effective blockade of the Strait of Hormuz, a critical passage for global oil and gas trade. He has also drawn a firm line on Iran’s nuclear programme. The tensions stem from Iran’s move to restrict access to the strait following US and Israeli strikes on February 28. Meanwhile, a continued US naval blockade of Iranian ports, despite the ceasefire, has further escalated the situation. Also read: Israel approves purchase of F-35, F-15IA fighter jets from US – What’s in the deal?

German FM Johann Wadephul urged Iran to reopen the Strait of Hormuz and abandon its nuclear programme in a call with Abbas Araghchi, backing a negotiated solution in line with the United States.

Germany urges Iran to reopen Strait of Hormuz, abandon nuclear ambitions

Life in West Asia is slowly moving towards normalcy. Cities like Dubai are leading the effort to attract new investments despite weeks of uncertainty. But can the mega oil-rich economies of the Gulf ever go back to normal? This next report puts the spotlight on Dubai. Take a look.

Can Dubai Regain Its Shine as a Safe Haven?

The US has spent about $25B in its conflict with Iran, but reports suggest the real cost, factoring in damaged bases, weapons, and repairs, could reach $40–50B. Missile use, infrastructure losses, and rising regional tensions are deepening economic and energy crises.

The US has spent about $25B in its conflict with Iran, but reports suggest the real cost, factoring in damaged bases, weapons, and repairs, could reach $40–50B. Missile use, infrastructure losses, and rising regional tensions are deepening economic and energy crises.

$25B, $40B, $50B or more: Is US hiding its real spending on Iran conflict? Here's what we know

The war in West Asia and the closure of the Strait of Hormuz propelled a stinging disruption in supply chains, impairing industrial competitiveness, inflating household expenditures, and destabilising domestic order. Countries in the subcontinent are net importers of hydrocarbons from West Asia, with the Strait of Hormuz serving as a critical conduit. Since the beginning of the war, Sri Lanka has re-launched the National Fuel Authorisation System to ration fuel supplies. In Pakistan, supply chain disruptions have hamstrung fertiliser reserves in the kharif season, impacting agricultural productivity and food security. The subcontinent’s landlocked small states—Bhutan and Nepal—depend on India for hydrocarbon imports and, thereby, are experiencing second-order vulnerability.&nbsp;While the crisis has amplified the subcontinent’s economic and political predicaments, it opened a window for a reset in the bilateral relations of India and Bangladesh. In March, Bangladesh imposed rationing amid stockpiling and panic-buying. Three of its largest sources of hydrocarbon and aluminium imports—Qatar, Iraq, and the UAE—declared force majeure on production, after Iran targeted their energy infrastructure. Last month, amid public anxiety, Bangladesh received 5000 tonnes of diesel via the Indo-Bangladesh Friendship Pipeline. An additional 5000 tonnes arrived on April 10, while the government is expected to import another 17000 tonnes to assuage concerns.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/will-sheikh-hasina-and-her-awami-league-find-space-in-tarique-rahman-s-new-bangladesh-amid-jamaat-s-rise-1771229273915">Will Sheikh Hasina and her Awami League find space in Tarique Rahman’s ‘new Bangladesh’ amid Jamaat’s rise?</a>&nbsp;Apart from Bangladesh, India has supplied 38000 metric tonnes of oil products to Sri Lanka and has continued uninterrupted deliveries to Bhutan and Nepal. Similar requests from Malé are also being considered. But the uniqueness of the Bangladeshi case is lent primarily by the trajectory of Indo-Bangladesh relations since 2024. For 15 years, the dominant frame circumscribing Dhaka–Delhi bonhomie was personalistic—the Awami League-led regime of Sheikh Hasina. The regime cracked down on separatist elements operating in India’s Northeast from Bangladesh’s soil and evolved enduring institutional arrangements, such as the Ganga Waters Treaty and the land boundary agreement. Connectivity was a major plank of the bilateral relationship: railway lines were restored, and, in 2023, the Friendship Pipeline was inaugurated. With the fall of Hasina, the relations entered a frigid phase. Anti-India sentiment gained traction in Bangladesh, particularly after the assassination of Osman Hadi. Bangladesh imposed restrictions on the import of rice and yarn from India, while the two neighbours exchanged acrimonious terms on the question of Hasina’s extradition.&nbsp;The relations now seem to have entered a phase of cautious but strategic recalibration. India and Bangladesh are future-proofing their bilateral ties by embedding them in structural necessity and pragmatism. The logic of geography—India and Bangladesh share one of the longest land borders in the world—and economic rationalism are expected to lend credence to functional cooperation between the two states, which will sustain stability amid geopolitical and domestic headwinds.&nbsp;Also Read: <a href="https://www.wionews.com/world/-let-s-keep-working-says-bangladesh-envoy-hamidullah-after-fm-rahman-s-intense-delhi-week-1775993352889">‘Let’s keep working,’ says Bangladesh envoy Hamidullah after FM Rahman’s intense Delhi week</a>&nbsp;Functional cooperation serves four ends. First, by focussing on concrete, specialised shared problems, it denotes responsibility in both actors. It helps devise mechanisms for cooperation that employ best practices and lessons from both countries. Second, as these mechanisms gradually institutionalise, they lower transaction costs and make trade-offs in bilateral negotiations more agreeable and structured, rather than making a relationship a zero-sum game. Third, they create issue-linkages, cultivating interdependencies and constraining the unilateral exercise of power by imposing costs. Lastly, functional dimensions spawn expert, issue-specific networks in civil societies that diffuse norms that inform state behaviour. In the case of Bangladesh and India, river-water sharing, power, and trade can provide these critical linkages.&nbsp;&nbsp;The Ganga Waters Treaty (GWT) recognises transboundary riparian interdependence; its expiry in 2026 provides low-hanging fruit for renewing cooperative mechanisms. The revival of negotiations of the Joint Rivers Commission and the Technical Committee is a welcome development and should be made time-bound and cross-sectional. The treaty will inevitably need to revise its base years for measuring the river’s flow; the process must be backed by a mutually agreed-upon scientific methodology. The Ganges basin has experienced the cascading impact of climate change, which has hampered flows in dry seasons. A forward-looking renewal of the treaty must therefore be climate-responsive and data-driven to address this shared vulnerability.&nbsp;<a href="https://www.wionews.com/videos/sheikh-hasina-s-unfiltered-interview-minorities-live-in-fear-mob-terror-rules-bangladesh-wion-1769484942121/embed">https://www.wionews.com/videos/sheikh-hasina-s-unfiltered-interview-minorities-live-in-fear-mob-terror-rules-bangladesh-wion-1769484942121/embed</a>&nbsp;&nbsp;But these negotiations have a gestation period. By contrast, the opening of closed land ports and border haats between India and Bangladesh will deliver immediate relief to clogged supply chains and small traders, especially of yarn, garments, and plastic products, reducing the burden on the Benapole–Petrapole crossing. Harmonising regulations can decrease costs and time in the passage of bilateral trade.&nbsp;In addition, the template of power cooperation, largely founded on hydrocarbons, can be replicated to support the neighbours’ green transition goals. The conclusion of a tripartite power-purchase agreement among Nepal, India, and Bangladesh can be expanded in scope to include Bhutan. India and Bangladesh can also explore bilateral interdependencies in hydropower cooperation, with notable hydropower projects coming up in India’s Northeast, cutting costs and time.&nbsp;The crisis in West Asia has forced a reckoning with structural realities and avenues of cooperation. Functional cooperation on issues of river-water sharing, power, and bilateral trade can spill over into trust-building. By prioritising issue-based interdependencies, Dhaka and New Delhi can shield development and connectivity from domestic contestations, imparting resilience and predictability to their relations and the region at large.&nbsp;DISCLAIMER: The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of WION.

West Asia war and the Strait of Hormuz disruption hit South Asia’s fuel supply chains. Amid crisis, India and Bangladesh are rebuilding ties through energy, trade, and water cooperation, boosting regional stability.

The war in West Asia and the closure of the Strait of Hormuz propelled a stinging disruption in supply chains, impairing industrial competitiveness, inflating household expenditures, and destabilising domestic order. Countries in the subcontinent are net importers of hydrocarbons from West Asia, with the Strait of Hormuz serving as a critical conduit. Since the beginning of the war, Sri Lanka has re-launched the National Fuel Authorisation System to ration fuel supplies. In Pakistan, supply chain disruptions have hamstrung fertiliser reserves in the kharif season, impacting agricultural productivity and food security. The subcontinent’s landlocked small states—Bhutan and Nepal—depend on India for hydrocarbon imports and, thereby, are experiencing second-order vulnerability. While the crisis has amplified the subcontinent’s economic and political predicaments, it opened a window for a reset in the bilateral relations of India and Bangladesh. In March, Bangladesh imposed rationing amid stockpiling and panic-buying. Three of its largest sources of hydrocarbon and aluminium imports—Qatar, Iraq, and the UAE—declared force majeure on production, after Iran targeted their energy infrastructure. Last month, amid public anxiety, Bangladesh received 5000 tonnes of diesel via the Indo-Bangladesh Friendship Pipeline. An additional 5000 tonnes arrived on April 10, while the government is expected to import another 17000 tonnes to assuage concerns. Also Read: Will Sheikh Hasina and her Awami League find space in Tarique Rahman’s ‘new Bangladesh’ amid Jamaat’s rise? Apart from Bangladesh, India has supplied 38000 metric tonnes of oil products to Sri Lanka and has continued uninterrupted deliveries to Bhutan and Nepal. Similar requests from Malé are also being considered. But the uniqueness of the Bangladeshi case is lent primarily by the trajectory of Indo-Bangladesh relations since 2024. For 15 years, the dominant frame circumscribing Dhaka–Delhi bonhomie was personalistic—the Awami League-led regime of Sheikh Hasina. The regime cracked down on separatist elements operating in India’s Northeast from Bangladesh’s soil and evolved enduring institutional arrangements, such as the Ganga Waters Treaty and the land boundary agreement. Connectivity was a major plank of the bilateral relationship: railway lines were restored, and, in 2023, the Friendship Pipeline was inaugurated. With the fall of Hasina, the relations entered a frigid phase. Anti-India sentiment gained traction in Bangladesh, particularly after the assassination of Osman Hadi. Bangladesh imposed restrictions on the import of rice and yarn from India, while the two neighbours exchanged acrimonious terms on the question of Hasina’s extradition. The relations now seem to have entered a phase of cautious but strategic recalibration. India and Bangladesh are future-proofing their bilateral ties by embedding them in structural necessity and pragmatism. The logic of geography—India and Bangladesh share one of the longest land borders in the world—and economic rationalism are expected to lend credence to functional cooperation between the two states, which will sustain stability amid geopolitical and domestic headwinds. Also Read: ‘Let’s keep working,’ says Bangladesh envoy Hamidullah after FM Rahman’s intense Delhi week Functional cooperation serves four ends. First, by focussing on concrete, specialised shared problems, it denotes responsibility in both actors. It helps devise mechanisms for cooperation that employ best practices and lessons from both countries. Second, as these mechanisms gradually institutionalise, they lower transaction costs and make trade-offs in bilateral negotiations more agreeable and structured, rather than making a relationship a zero-sum game. Third, they create issue-linkages, cultivating interdependencies and constraining the unilateral exercise of power by imposing costs. Lastly, functional dimensions spawn expert, issue-specific networks in civil societies that diffuse norms that inform state behaviour. In the case of Bangladesh and India, river-water sharing, power, and trade can provide these critical linkages. The Ganga Waters Treaty (GWT) recognises transboundary riparian interdependence; its expiry in 2026 provides low-hanging fruit for renewing cooperative mechanisms. The revival of negotiations of the Joint Rivers Commission and the Technical Committee is a welcome development and should be made time-bound and cross-sectional. The treaty will inevitably need to revise its base years for measuring the river’s flow; the process must be backed by a mutually agreed-upon scientific methodology. The Ganges basin has experienced the cascading impact of climate change, which has hampered flows in dry seasons. A forward-looking renewal of the treaty must therefore be climate-responsive and data-driven to address this shared vulnerability. https://www.wionews.com/videos/sheikh-hasina-s-unfiltered-interview-minorities-live-in-fear-mob-terror-rules-bangladesh-wion-1769484942121/embed But these negotiations have a gestation period. By contrast, the opening of closed land ports and border haats between India and Bangladesh will deliver immediate relief to clogged supply chains and small traders, especially of yarn, garments, and plastic products, reducing the burden on the Benapole–Petrapole crossing. Harmonising regulations can decrease costs and time in the passage of bilateral trade. In addition, the template of power cooperation, largely founded on hydrocarbons, can be replicated to support the neighbours’ green transition goals. The conclusion of a tripartite power-purchase agreement among Nepal, India, and Bangladesh can be expanded in scope to include Bhutan. India and Bangladesh can also explore bilateral interdependencies in hydropower cooperation, with notable hydropower projects coming up in India’s Northeast, cutting costs and time. The crisis in West Asia has forced a reckoning with structural realities and avenues of cooperation. Functional cooperation on issues of river-water sharing, power, and bilateral trade can spill over into trust-building. By prioritising issue-based interdependencies, Dhaka and New Delhi can shield development and connectivity from domestic contestations, imparting resilience and predictability to their relations and the region at large. DISCLAIMER: The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of WION.

West Asia war and the Strait of Hormuz disruption hit South Asia’s fuel supply chains. Amid crisis, India and Bangladesh are rebuilding ties through energy, trade, and water cooperation, boosting regional stability.

Crisis as catalyst: Recalibrating India–Bangladesh ties

The Iran war is no longer just a regional conflict — its impact is now spreading across transportation, energy, industries and global financial markets. The closure of the Strait of Hormuz has disrupted one of the world’s most critical trade routes, sending oil and fuel prices soaring while forcing airlines and shipping companies to reroute operations. Industries dependent on energy and raw materials are facing rising costs, while stock markets remain volatile amid fears of inflation, recession and long-term supply chain disruption.


How War in West Asia Is Shaping the Global Economy

The ongoing West Asia conflict is casting a growing shadow over the UK economy, with the National Institute of Economic and Social Research warning that growth could slow sharply in 2026. Rising oil and energy prices linked to the regional crisis are increasing fears of recession and renewed pressure on household budgets. Inflation is now expected to peak at 4.1 percent next January, raising concerns over living costs, borrowing rates and the wider economic outlook for Britain.


UK Faces Rising Recession Risk As West Asia Conflict Pushes Energy Costs Higher

The India government has issued a fresh travel advisory asking its citizens to leave Iran and avoid non-essential travel. The move comes as escalating tensions in West Asia continue to disrupt flight operations to and from the country. Authorities are urging Indians in Iran to stay alert, follow official updates, and make arrangements to return home as a precaution.


BREAKING: India Issues Travel Advisory for Iran, Asks Its Citizens to Leave Iran

Amid a ceasefire in Lebanon, Israeli airstrikes have killed five people, including Lebanese veteran journalist Amal Khalil, in Lebanon on Wednesday (Apr 22). Another journalist has been wounded in the strike. Reports suggest that another journalist has also been injured by Israeli strikes. The death of the journalist in Lebanon has drawn sharp condemnation and raised fresh questions about the durability of the ceasefire that came into effect less than a week ago.Also read | <a href="https://www.wionews.com/world/irgc-gunboat-fires-on-container-ship-near-oman-heavy-damage-reported-amid-strait-of-hormuz-standoff-1776845119527">IRGC gunboat fires on container ship near Oman: Heavy damage reported amid Strait of Hormuz standoff</a><h2>Veteran journalist killed in Lebanon</h2>Amal Khalil, a veteran correspondent for the Lebanese daily Al-Akhbar, was killed when an Israeli strike hit a house in the town of al-Tiri near the Israeli border. Her colleague Zeinab Faraj, a freelance photographer who frequently worked alongside her, was wounded and taken to the hospital. Lebanon's civil defence agency confirmed recovering Khalil's body after rescue teams spent several hours attempting to reach her. However, responders revealed that the efforts to rescue Khalil were complicated by a "warning strike" that initially forced them to withdraw.Khalil's body was eventually pulled out from amid the rubble. The Lebanese army, accompanied by a bulldozer to clear rubble, eventually escorted ambulance teams into the town after contact was established with the 2024 ceasefire mechanism and the UN Interim Force in Lebanon. Watch video:

<blockquote class="twitter-tweet" data-media-max-width="560">Rescue teams MOMENTS before recovering Amal Khalil&#39;s body from the rubble after she was KILLED in an ISRAELI STRIKE <a href="https://t.co/MgWmH5krTP">pic.twitter.com/MgWmH5krTP</a>&mdash; RT (@RT_com) <a href="https://twitter.com/RT_com/status/2047066855030894794?ref_src=twsrc%5Etfw">April 22, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>Who was Amal Khalil? Was she targeted by Israel?</h2>Amal Khalil had been a consistent presence in the field throughout the current conflict, which began on March 2, as well as during the earlier round of fighting between 2023 and 2024. Lebanon's Information Minister Paul Morcos alleged that the journalist "was targeted by the Israeli army while carrying out her professional duty." In an X post, the Lebanese minister also noted that "the targeting of journalists is a grave crime and a blatant violation of international humanitarian law."Also read | <a href="https://www.wionews.com/world/-if-chatgpt-was-a-person-it-d-be-facing-murder-charges-openai-chatbot-behind-florida-university-mass-shooting-criminal-probe-launched-1776835015486">Murder suspect: ChatGPT? Florida launches probe against OpenAI chatbot - Here's why</a><h2>Israel refutes allegations of targeting Khalil</h2>The Israeli military offered a different account. It said it had "identified two vehicles in southern Lebanon that had departed from a military structure used by Hezbollah," and that after assessing the individuals as "violating the ceasefire understandings and posing an imminent threat," the air force struck one vehicle and then the structure the individuals had fled from. The army acknowledged that it received reports that two journalists were injured and stated it was "not preventing rescue teams from reaching the area."&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.&nbsp;

Veteran journalist Amal Khalil killed in an Israeli airstrike, drawing sharp condemnation and raising questions over the one-week-old truce. Was she targeted or caught in crossfire?Scroll down to read more.

Amid a ceasefire in Lebanon, Israeli airstrikes have killed five people, including Lebanese veteran journalist Amal Khalil, in Lebanon on Wednesday (Apr 22). Another journalist has been wounded in the strike. Reports suggest that another journalist has also been injured by Israeli strikes. The death of the journalist in Lebanon has drawn sharp condemnation and raised fresh questions about the durability of the ceasefire that came into effect less than a week ago. Also read | IRGC gunboat fires on container ship near Oman: Heavy damage reported amid Strait of Hormuz standoff Veteran journalist killed in Lebanon Amal Khalil, a veteran correspondent for the Lebanese daily Al-Akhbar, was killed when an Israeli strike hit a house in the town of al-Tiri near the Israeli border. Her colleague Zeinab Faraj, a freelance photographer who frequently worked alongside her, was wounded and taken to the hospital. Lebanon's civil defence agency confirmed recovering Khalil's body after rescue teams spent several hours attempting to reach her. However, responders revealed that the efforts to rescue Khalil were complicated by a "warning strike" that initially forced them to withdraw. Khalil's body was eventually pulled out from amid the rubble. The Lebanese army, accompanied by a bulldozer to clear rubble, eventually escorted ambulance teams into the town after contact was established with the 2024 ceasefire mechanism and the UN Interim Force in Lebanon. Watch video:

Veteran journalist Amal Khalil killed in an Israeli airstrike, drawing sharp condemnation and raising questions over the one-week-old truce. Was she targeted or caught in crossfire?Scroll down to read more.

'Targeted on duty': Lebanon slams Israel's 'grave crime' after strike kills 5, including journalist Amal Khalil | Watch

US forces have ordered 28 vessels to turn around or return to port after the blockade of Iranian ports started on April 13, according to the US Central Command, which is responsible for military operations in the Middle East. The statement followed after Washington had maintained a naval blockade since last week. The US move by Tehran has been described as a violation of a ceasefire.&nbsp;Tensions escalated soon after Iran said on Friday that the Strait of Hormuz was reopened to maritime traffic; however, it reversed the decision a day later, restricting vessel movements and citing unmet US obligations under a two-week ceasefire deal, which is scheduled to expire on Wednesday.<h3>Trump accuses Iran of violating the ceasefire agreement</h3>US President Donald Trump has also accused Iran of violating the ceasefire agreement “multiple times.” Last week, he also said that the naval blockade would continue“in full force and effect” until negotiations with Tehran were complete. Overnight, US forces have also boarded a crude-oil tanker in the Indo-Pacific region, sanctioned for working with Iran. Meanwhile, US Vice President JD Vance is likely to travel to Pakistan with envoys Steve Witkoff and Jared Kushner for a new round of talks with Iran, but there is no confirmed participation from the end of Tehran, as it has demanded the lifting of the blockade as a precondition.&nbsp;Also read: <a href="https://www.wionews.com/world/iran-not-ready-for-talks-yet-pakistan-says-no-official-confirmation-on-iranian-delegation-1776786703444">Iran not ready for talks yet? Pakistan says no official confirmation on Iranian delegation</a>

Tensions escalated soon after Iran said on Friday that the Strait of Hormuz was reopened to maritime traffic; however, it reversed the decision a day later, restricting vessel movements.

US forces have ordered 28 vessels to turn around or return to port after the blockade of Iranian ports started on April 13, according to the US Central Command, which is responsible for military operations in the Middle East. The statement followed after Washington had maintained a naval blockade since last week. The US move by Tehran has been described as a violation of a ceasefire. Tensions escalated soon after Iran said on Friday that the Strait of Hormuz was reopened to maritime traffic; however, it reversed the decision a day later, restricting vessel movements and citing unmet US obligations under a two-week ceasefire deal, which is scheduled to expire on Wednesday. Trump accuses Iran of violating the ceasefire agreement US President Donald Trump has also accused Iran of violating the ceasefire agreement “multiple times.” Last week, he also said that the naval blockade would continue“in full force and effect” until negotiations with Tehran were complete. Overnight, US forces have also boarded a crude-oil tanker in the Indo-Pacific region, sanctioned for working with Iran. Meanwhile, US Vice President JD Vance is likely to travel to Pakistan with envoys Steve Witkoff and Jared Kushner for a new round of talks with Iran, but there is no confirmed participation from the end of Tehran, as it has demanded the lifting of the blockade as a precondition. Also read: Iran not ready for talks yet? Pakistan says no official confirmation on Iranian delegation

Tensions escalated soon after Iran said on Friday that the Strait of Hormuz was reopened to maritime traffic; however, it reversed the decision a day later, restricting vessel movements.

US forces direct 28 vessels to turn back or return to port after Iran blocks port - What's happening

Russia is expected to halt oil shipments from ‌Kazakhstan to Germany through the Druzhba pipeline starting from May 1, according to three industry sources. Speaking to Reuters on condition of anonymity, the sources confirmed that a revised export schedule has been shared with both countries. The suspension of Kazakh supplies would add more uncertainty to Germany's energy outlook, as ​disruptions linked to the Iran war continue to impact shipments from the Middle East, only a few ⁠years after Berlin's long-standing energy relationship with Russia was shaken by the Ukraine war. Kazakhstan exported about 2.146 million metric tons of oil to Germany via the Druzhba pipeline in 2025, around 43,000 barrels per day, marking a 44 per cent increase from 2024, with 730,000 tons delivered in the first quarter of 2026. Full blockage would omit nearly 17 per cent of the up to 12 million metric tons of oil processed by Germany's ​PCK refinery in a year. Situated in the northeastern town of Schwedt, it is marked as one of the country's largest hubs for fuel, from which ​powers 9 out of 10 cars in the Berlin and Brandenburg region.<h3>Ukraine conflict prompts strain in ties between Russia &amp; Germany</h3>The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports. "We will try to check it," Peskov told reporters on a daily conference call. Additionally, Kazakhstan's energy ministry and the German government did not immediately react to requests for comment. Political and economic ties between Russia and Germany have been strained by the Ukraine conflict. Russian oil deliveries were halted after the war began, and in 2022, Berlin placed the German subsidiaries of Rosneft under trusteeship. Since 2023, Kazakhstan has been supplying oil to the PCK refinery through the northern branch of the Druzhba pipeline via Poland, though shipments have been repeatedly disrupted by Ukrainian drone strikes on the Russian section. A spokesperson for Poland’s pipeline operator PERN told Reuters that the firm is prepared to transport oil for non-Russian stakeholders of PCK through the port of Gdansk if required. The Schwedt refinery is partly owned by Rosneft, Shell, and Eni. &nbsp;Also read:<a href="https://www.wionews.com/world/-violated-ceasefire-numerous-times-trump-accuses-iran-ahead-of-islamabad-talks-1776770384825"> ‘Violated ceasefire numerous times’: Trump accuses Iran ahead of Islamabad talks</a>

The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports. 

Russia is expected to halt oil shipments from ‌Kazakhstan to Germany through the Druzhba pipeline starting from May 1, according to three industry sources. Speaking to Reuters on condition of anonymity, the sources confirmed that a revised export schedule has been shared with both countries. The suspension of Kazakh supplies would add more uncertainty to Germany's energy outlook, as disruptions linked to the Iran war continue to impact shipments from the Middle East, only a few ⁠years after Berlin's long-standing energy relationship with Russia was shaken by the Ukraine war. Kazakhstan exported about 2.146 million metric tons of oil to Germany via the Druzhba pipeline in 2025, around 43,000 barrels per day, marking a 44 per cent increase from 2024, with 730,000 tons delivered in the first quarter of 2026. Full blockage would omit nearly 17 per cent of the up to 12 million metric tons of oil processed by Germany's PCK refinery in a year. Situated in the northeastern town of Schwedt, it is marked as one of the country's largest hubs for fuel, from which powers 9 out of 10 cars in the Berlin and Brandenburg region. Ukraine conflict prompts strain in ties between Russia & Germany The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports. "We will try to check it," Peskov told reporters on a daily conference call. Additionally, Kazakhstan's energy ministry and the German government did not immediately react to requests for comment. Political and economic ties between Russia and Germany have been strained by the Ukraine conflict. Russian oil deliveries were halted after the war began, and in 2022, Berlin placed the German subsidiaries of Rosneft under trusteeship. Since 2023, Kazakhstan has been supplying oil to the PCK refinery through the northern branch of the Druzhba pipeline via Poland, though shipments have been repeatedly disrupted by Ukrainian drone strikes on the Russian section. A spokesperson for Poland’s pipeline operator PERN told Reuters that the firm is prepared to transport oil for non-Russian stakeholders of PCK through the port of Gdansk if required. The Schwedt refinery is partly owned by Rosneft, Shell, and Eni. Also read: ‘Violated ceasefire numerous times’: Trump accuses Iran ahead of Islamabad talks

The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports.&nbsp;

Fresh energy crisis? Russia to halt oil flows to Germany via Druzhba pipeline amid West Asia conflicts

The ongoing West Asia conflict has intensified concerns over a possible global energy crisis as tensions between the United States and Iran continue to disrupt critical oil shipping routes. With key waterways under threat and military actions escalating, analysts warn that crude oil supplies and global energy markets could face severe instability. 

US-Iran War: West Asia War Raises Question About Potential Energy Crisis

India’s exports to West Asia took a sharp hit in March after falling by an estimated 3.5 billion dollars. Delayed shipments and raised logistics costs were responsible for the disruption.

 India's Exports to West Asia Drop by $3.5BN in March 

Rising tensions in West Asia are now fuelling a deepening global food crisis, with the World Bank warning that millions more could slip into acute hunger. Disruptions in supply chains, surging food prices, and conflict-driven instability have left over 300 million people facing food shortages. Experts caution that without urgent global action, the crisis could escalate further, hitting the world’s most vulnerable populations the hardest.


War In West Asia Drives Millions Toward Global Hunger Crisis

US President Donald Trump on Thursday (Apr 16) said that he had a “very good conversation” with Prime Minister Narendra Modi. Calling the Indian leader a “friend”, Trump said that they discussed regional security concerns during the 40-minute phone conversation. This comes after PM Modi confirmed that he received a call from the US president, adding that they discussed the West Asia conflict and the Strait of Hormuz crisis.“I had a very good talk with him, and he’s a friend of mine from India, and he’s doing great. We had a very good conversation,” Trump told reporters when asked about the call.&nbsp;Earlier, PM Modi wrote in a post on X, “Received a call from my friend President Donald Trump. We reviewed the substantial progress achieved in our bilateral cooperation in various sectors. We are committed to further strengthening our Comprehensive Global Strategic Partnership in all areas.”He added, “We also discussed the situation in West Asia and stressed the importance of keeping the Strait of Hormuz open and secure.”US Ambassador to India Sergio Gor, considered a close aide to President Trump, described the conversation as “very positive and productive”.“A very positive and productive call! Stay tuned...,” he said in a post on X in response to Modi’s remarks.The conversation marked the first between the two leaders since a two-week ceasefire between the United States and Iran came into effect on April 8 after intense hostilities in the region. Meanwhile, Trump also announced a 10-day ceasefire between Israel and Lebanon on Thursday.Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

US President Donald Trump said he had a “very good” 40-minute call with Indian Prime Minister Narendra Modi, discussing West Asia tensions and the Strait of Hormuz crisis.

US President Donald Trump on Thursday (Apr 16) said that he had a “very good conversation” with Prime Minister Narendra Modi. Calling the Indian leader a “friend”, Trump said that they discussed regional security concerns during the 40-minute phone conversation. This comes after PM Modi confirmed that he received a call from the US president, adding that they discussed the West Asia conflict and the Strait of Hormuz crisis. “I had a very good talk with him, and he’s a friend of mine from India, and he’s doing great. We had a very good conversation,” Trump told reporters when asked about the call. Earlier, PM Modi wrote in a post on X, “Received a call from my friend President Donald Trump. We reviewed the substantial progress achieved in our bilateral cooperation in various sectors. We are committed to further strengthening our Comprehensive Global Strategic Partnership in all areas.” He added, “We also discussed the situation in West Asia and stressed the importance of keeping the Strait of Hormuz open and secure.” US Ambassador to India Sergio Gor, considered a close aide to President Trump, described the conversation as “very positive and productive”. “A very positive and productive call! Stay tuned...,” he said in a post on X in response to Modi’s remarks. The conversation marked the first between the two leaders since a two-week ceasefire between the United States and Iran came into effect on April 8 after intense hostilities in the region. Meanwhile, Trump also announced a 10-day ceasefire between Israel and Lebanon on Thursday. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

US President Donald Trump said he had a “very good” 40-minute call with Indian Prime Minister Narendra Modi, discussing West Asia tensions and the Strait of Hormuz crisis.

‘Had a very good talk’: Trump calls PM Modi ‘friend’ after 40-minute call amid West Asia conflict

The global oil market surplus has been severely hit amid the Iran conflict, pushing the market into a deficit in early 2026, according to a report by YES Securities. The report indicated that the oil market has shifted from surplus in 2025 to a materially higher deficit till now in 2026 due to the disruption in supply triggered by the war. Major output cuts in key oil-producing regions have eroded the surplus that once kept prices stable. Earlier, global oil markets were well oversupplied, with an average surplus of 2.3 million barrels per day in 2025. However, recent disruptions have significantly worsened the situation, with production losses reaching as much as 10 million barrels per day in April 2026.<h3>Supply gap</h3>This shift has turned the surplus into an average deficit of 1.4 million barrels per day during the first four months of the year. Despite the current tightening, the report indicates that the supply gap may not last for the remainder of the year. "We think that the supply loss during March and April will not likely translate into a sustained deficit throughout the year," the report said. "We expect the conflict to end by this month. Therefore, markets are unlikely to remain in a sustained deficit as disruptions ease through the year," it added. Meanwhile, oil prices are projected to stay high in the near term, likely settling in the range of USD 80-85 per barrel, supported by a geopolitical risk premium of about USD 10-15 per barrel. These elevated prices could encourage higher output from non-OPEC producers, particularly US shale, helping to ease supply constraints. The report further noted that "even if the conflict ends by April, benchmark prices are likely to stabilise in the USD 80-85/bbl range rather than retrace sharply, as partial normalisation in transit flows is expected but not a full return to pre-conflict conditions until late 2026. As a result, Oil prices are expected to embed a geopolitical risk premium of roughly USD 10-15/bbl" At the same time, sustained high prices may curb demand growth, especially in cost-sensitive markets, potentially keeping the global oil market relatively balanced by the end of 2026.&nbsp;Also read: <a href="https://www.wionews.com/world/inside-the-mine-field-of-strait-of-hormuz-what-is-lurking-beneath-the-waters-and-how-can-it-be-removed-iran-war-news-1776342748944">Inside the mine field of Strait of Hormuz: What is lurking beneath the waters and how can it be removed?</a>

Major output cuts in key oil-producing regions have eroded the surplus that once kept prices stable. Earlier, global oil markets were well oversupplied, with an average surplus of 2.3 million barrels per day in 2025.

The global oil market surplus has been severely hit amid the Iran conflict, pushing the market into a deficit in early 2026, according to a report by YES Securities. The report indicated that the oil market has shifted from surplus in 2025 to a materially higher deficit till now in 2026 due to the disruption in supply triggered by the war. Major output cuts in key oil-producing regions have eroded the surplus that once kept prices stable. Earlier, global oil markets were well oversupplied, with an average surplus of 2.3 million barrels per day in 2025. However, recent disruptions have significantly worsened the situation, with production losses reaching as much as 10 million barrels per day in April 2026. Supply gap This shift has turned the surplus into an average deficit of 1.4 million barrels per day during the first four months of the year. Despite the current tightening, the report indicates that the supply gap may not last for the remainder of the year. "We think that the supply loss during March and April will not likely translate into a sustained deficit throughout the year," the report said. "We expect the conflict to end by this month. Therefore, markets are unlikely to remain in a sustained deficit as disruptions ease through the year," it added. Meanwhile, oil prices are projected to stay high in the near term, likely settling in the range of USD 80-85 per barrel, supported by a geopolitical risk premium of about USD 10-15 per barrel. These elevated prices could encourage higher output from non-OPEC producers, particularly US shale, helping to ease supply constraints. The report further noted that "even if the conflict ends by April, benchmark prices are likely to stabilise in the USD 80-85/bbl range rather than retrace sharply, as partial normalisation in transit flows is expected but not a full return to pre-conflict conditions until late 2026. As a result, Oil prices are expected to embed a geopolitical risk premium of roughly USD 10-15/bbl" At the same time, sustained high prices may curb demand growth, especially in cost-sensitive markets, potentially keeping the global oil market relatively balanced by the end of 2026. Also read: Inside the mine field of Strait of Hormuz: What is lurking beneath the waters and how can it be removed?

Major output cuts in key oil-producing regions have eroded the surplus that once kept prices stable. Earlier, global oil markets were well oversupplied, with an average surplus of 2.3 million barrels per day in 2025.

From surplus to shortage: Iran tensions push global oil market into deficit - Report

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Crisis as catalyst: Recalibrating India–Bangladesh ties

How War in West Asia Is Shaping the Global Economy

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'Targeted on duty': Israel strike kills journalist; Lebanon slams 'grave crime'

US forces direct 28 vessels to turn back or return to port as Iran blocks port

Russia to halt oil flows to Germany via Druzhba pipeline amid West Asia war