Trump, Merkel start with 'tense' handshake in G-20 summit

Speaking at a Women's History Month event at the White House, the US president said he had been fully briefed on the situation and described the incident as "terrible."

In a post by the White House, President Trump, while acknowledging that the United States is currently the world's leading oil producer and stands to benefit financially from higher crude prices, emphasised that his administration's overriding mission remains the permanent dismantling of Iran's nuclear program.

India's Consul General in Shanghai, Pratik Mathur, met Ant Group leadership to discuss fintech and digital economy opportunities. This follows high-level engagements with Shanghai's Mayor, aligned with Prime Minister Narendra Modi's "Reform, Perform and Transform" mantra to strengthen bilateral and multilateral cooperation through the SCO and BRICS.

Two oil tankers caught fire near Iraq after being struck by an "unknown projectile," with UKMTO reporting all crew are "evacuated and safe." This follows a surge in maritime attacks amid regional conflict, drawing a sharp response from India and warnings from President Trump regarding the Strait of Hormuz.

The Trump administration has launched "unfair trade practice" probes into 16 nations, including India and China, to reinstate tariff pressure. US Trade Representative Jamieson Greer stated the "investigations will focus on economies" with "structural excess capacity." Additional probes into forced labour could lead to new tariffs by July.

The US will release 172 million barrels of oil "beginning next week" to stabilse markets amid war with Iran. President Trump vowed to "finish the job" despite Tehran's threats to "destroy" the economy. While Trump suggests there is "practically nothing left to target," Israel claims it has "a broad bank of targets."

Saudi Arabia intercepted multiple drones targeting the "Shaybah oil field" as regional tensions soar. Amid the conflict, Russia and Saudi Arabia "emphasised the need" for international efforts to prevent escalation. Meanwhile, the US warned Russia not to intervene, despite Trump and Putin discussing "opportunity for some peace" in Ukraine.

"Over the past 11 days, our military has virtually destroyed Iran. Tough country," Trump said. Describing the Persian Gulf country as "tough", he asserted that its core military systems had been "virtually destroyed".

He said that Iran was paying a big price for inflicting 47 years' worth of damage to the world.

Addressing a gathering in Kentucky, Trump said, "I'm pleased to report that earlier today, the International Energy Agency agreed to coordinate the release of a record 400 million barrels of oil from various national petroleum reserves around the world, which will substantially reduce the oil prices, as we end this threat to America and this threat to the world."