New Delhi, May 29 (IANS) India is diversifying its sources of oil and gas imports to make up for the shortfall in supplies caused by the choking of the Strait of Hormuz amid the West Asia crisis, a senior official said on Friday. “Energy security is very important for us. We are trying to diversify our sources from across the world, and that is our policy at present. We welcome whatever support we can receive from various markets around the world,” said Randhir Jaiswal, the Ministry of External …
Latest Strait of Hormuz News & Updates
Washington, May 29 (IANS) US Treasury Secretary Scott Bessent expressed confidence that global oil prices could decline rapidly once shipping disruptions in the Gulf ease, arguing that energy markets remain well supplied despite tensions surrounding the Strait of Hormuz.Speaking at a White House briefing, Bessent said the market had already shown resilience and suggested that fears of a prolonged energy shock may be overstated.”There are almost 2,000 ships waiting to come out of the Gulf and I t…
Washington, May 29 (IANS) Nearly 2,000 vessels are waiting to leave the Gulf amid disruptions linked to tensions around the Strait of Hormuz, US Treasury Secretary Scott Bessent said.The disclosure by a top Trump’s Cabinet member offers a rare glimpse into the scale of the shipping backlog that has developed around the strategic waterway, through which a significant portion of the world’s oil and liquefied natural gas exports normally pass.”There are almost 2,000 ships waiting to come out of t…
Washington, May 29 (IANS) The Trump administration claimed that its campaign of military and economic pressure has succeeded in bringing Iran to the negotiating table on its nuclear programme, with Treasury Secretary Scott Bessent arguing that Tehran is now discussing issues that previous US administrations could not get it to address.Bessent told reporters at a White House news conference that recent developments marked a significant shift in Iran’s position and suggested that Washington’s stra…
Nicosia, May 28 (IANS) External Affairs Minister (EAM) S. Jaishankar on Thursday met his Romanian counterpart Oana Toiu on the sidelines of the informal Gymnich meeting of the European Union Foreign Affairs Ministers in Cyprus.“We’re now preparing the ground so that both our economies make the most of the future EU-India Free Trade Agreement, with strong potential across defence industry, renewable energy, steel, automotive, fertilisers and port infrastructure,” Romania’s Foreign Minister …
Moscow, May 28 (IANS) National Security Advisor (NSA) Ajit Doval on Thursday stated that there cannot be any double standards in the fight against terrorism and responsible nations have to evaluate their choices in deciding whether they support sponsors of terrorism or counter them with decisive action.Addressing the gathering of National Security Advisors (NSAs) and security chiefs of several countries at the first International Security Forum and the 14th Meeting of High Representatives for Se…
Washington/New Delhi, May 28 (IANS) The recent visit of US Secretary of State Marco Rubio to India reflected a more mature phase in relations between New Delhi and Washington, where strategic convergence continues alongside open discussions on trade frictions, differing geopolitical priorities, and ambiguity regarding American consistency, a report has stated.In parallel, it also underscored the Quad’s evolution from a primarily diplomatic signalling platform into an operational framework aimed …
New Delhi, May 28 (IANS) Gold and silver traded lower in international markets on Thursday as a stronger US dollar and renewed geopolitical tensions following fresh US military action against Iran weighed on sentiment and heightened concerns that inflation could remain elevated for longer.Spot gold slipped nearly 2 per cent to $4,368.99 per ounce, while COMEX gold was trading 1.80 per cent lower to $4,367.90 per ounce.On the other hand, silver prices also came under pressure, with spot silver de…
Washington, May 28 (IANS) The Persian Gulf Strait Authority, an Iranian authority overseeing shipping control in the Strait of Hormuz, has been added to the Specially Designated Nationals List in a fresh sanction move under the US Economic Fury campaign, the US Treasury Department said.In a press release posted on its website on Wednesday (local time), the department’s Office of Foreign Assets Control claimed the Strait Authority sought to impose illegitimate tolls on commercial traffic and forc…
Tehran, May 28 (IANS) The US military carried out fresh overnight strikes in Iran, targeting a military site that Washington said posed a threat to US forces and commercial vessels in the region, multiple US media outlets reported.US forces also intercepted drones launched from Iran, according to CBS News, citing a US official.The official described the strikes as defensive, asserting the US-Iran ceasefire is still considered to be holding, reports Xinhua news agency, quoting CBS News. Meanwhile…