Amid the ongoing conflict in the Middle East and rising crude oil prices, energy experts have said that oil supply through the Strait of Hormuz is unlikely to be immediately affected, though risks remain if tensions escalate further.
"Our trade with both Iran and Israel, while important, constitutes a small share of our overall export-import basket. The government and industry are jointly monitoring developments to ensure minimal disruption," the exporters' body chief said.
If the heightened tension in West Asia pushes average crude prices by USD 10 per barrel, it will typically push up India's net oil imports by nearly USD 13-14 billion during the year, enlarging India's CAD by 0.3 per cent of GDP, noted a recent report by ICRA.
Raising questions on India's silence over Iran-Israel tensions and US' attack on Iran's nuclear facilities, Congress leader Pawan Khera said that India's "silence" will make it "weak".
CPI general secretary D Raja questioned Prime Minister Narendra Modi's silence over the issue. He said that he must call his "friend", US President Donald Trump, to stop bombing Iran, citing that it is a violation of the UN charter.
UAE's national carrier, Etihad Airways, is witnessing issues of flight delays and cancellations, due to ongoing regional instability and multiple airspace closures, as reported by Gulf News.
Bihar BJP president Dilip Jaiswal on Monday highlighted India's growing global influence amid escalating tensions between Israel and Iran. He praised Prime Minister Narendra Modi for the country's increasing stature on the world stage.
Indian stock markets opened on a weak note on Monday, reacting sharply to rising geopolitical tensions after the US-Iran conflict escalated over the weekend. Both benchmark indices faced strong selling pressure in the early trading session.
The United States of America has issued a "worldwide caution" travel advisory for the US citizens and interests abroad amid the rising tensions in West Asia due to which there have been disruptions in travel and periodic closure of the airspace across the Middle East.
Addressing the session, convened under the agenda item "threats to international peace and security," Danon staunchly defended the US-led Operation Midnight Hammer, stating, "The United States has eliminated the greatest existential threat to humanity--and yet, some nations still dare to
Speaking under the agenda item "threats to international peace and security", Nebenzia condemned the US-led strikes targeting Iran's nuclear sites as "irresponsible, dangerous, and provocative," amid escalating tensions between the Islamic Republic and Israel.
Air India on Sunday said that all its flights are currently avoiding certain airspaces over the Persian Gulf, amidst escalating tensions between Israel and Iran.