&w=3840&q=100)
Threat of supply disruptions rising but India has enough stock: Officials
Subhayan Chakraborty New Delhi
Listen to This Article
The US strikes on Iranian nuclear sites amid the ongoing Israel-Iran war has given rise to apprehensions of a wider conflict and supply disruptions from the Persian Gulf, but officials in the petroleum ministry said that India has adequate supplies of crude oil, and purchases from other sources are also expected to rise.
'The situation is highly fluid. The impact of war on energy infrastructure, and logistics is not immediately clear. But while crude flows may continue through the Strait for now, oil prices are now realistically expected to stay elevated for a much longer period. We are monitoring the
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
10 hours ago
- The Print
US promoting terrorism & dictatorship in the world—RSS mouthpiece days after Trump's 50% tariff bomb
'The world is in turmoil. All the promises of 'free' and 'democratic' liberal world order are proving to be elusive. The unruly world order monopolised by the United States and based on military might and economic exploitation is crumbling down,' the editorial says. 'Trade wars and tariffs are new tools of interference and undermining sovereignty,' the editorial said in the backdrop of the Trump administration raising tariffs on India to 50 percent. New Delhi: Under the façade of being a messiah of freedom and democracy, the United States is promoting terrorism and dictatorship in the world, Rashtriya Swayamsevak Sangh (RSS) mouthpiece Organiser has said in an editorial. US President Donald Trump on 6 August imposed an additional 25 percent tariff on India as a penalty for New Delhi's continued purchase of Russian oil. The duties are additional to the 25 percent tariff rate announced earlier by Trump. After the end of the world war, the editorial argued, 'it was assumed that the liberal world order had triumphed forever, leading to the spread of democracy, stability and peace across the world.' However, the situation today is 'drastically different from our assumptions', it says. The American unipolar world is in decline and the international institutions like the United Nations and the World Trade Organisation proving to be irrelevant and inefficient, it argues. 'We are witnessing trade wars, unnecessary tariffs, sanctions, and regime change operations. The United States, self-proclaimed messiah of freedom and democracy, is promoting terrorism and dictatorship,' it says. 'China is emerging as a major challenger to the existing system,' it said while underlining the country's 'debt trap' and lack of 'credible' stable institutions. 'Russia-Ukraine War, Israel-Hamas War and Israel-Iran conflicts are the symptoms of this crumbling international order—the clear sign of this crumbling world order—which was never orderly.' The RSS has been silent over the Trump administration's tariffs on India so far, even as its economic wing, the Swadeshi Jagran Manch, said that no country could 'direct' trade rules to another country in a multipolar world. It also appealed to people to adopt 'Swadeshi' products, urging them to boycott goods from US-based companies like Amazon, Walmart and Flipkart (in which Walmart has a majority stake). There is a concerted attempt by 'neo-colonisers' and their domestic agents with vested interests to suppress the cultural resurgence witnessed by India in the last few decades, the Organiser said in the editorial. 'Actions like Surgical Strikes, Operation Sindoor, and continuous assertion to ensure strategic autonomy through prudent foreign policy options are a symbol of the same national consciousness,' it said. 'The forces in favour of the status quo, driven by vested interests, continue to bully the world based on economic and military might. The new assertive Bharat is a bête noire for them. They are using all the neo-colonial machinations to suppress this instinct.' For short-term political interests, some players within Bharat are acting as agents of neo-colonisers, it stated. 'All proposed globalisations—whether American market globalisation, Islamic religious globalisation or ideology-driven Communist globalisation—are nothing but the forms of colonisation imposing a one-size-fits-all approach across the world,' it further said. In order to counter the challenges, it said, India 'will have to face the competition and conflicts based on the current parameters for which we need to be economically prosperous, technologically advanced and militarily self-sufficient'. It also draws a parallel between communism and capitalism, arguing that while the independence movement in India was based on the ideals of Swadharma, Swadeshi and Swaraj, 'unfortunately, the elite of Independent Bharat lost their resilience and succumbed to the binary of capitalism and communism'. (Edited by Ajeet Tiwari) Also Read: No option but to be powerful in face of evil forces at our borders—RSS chief Mohan Bhagwat in Organiser
United News of India
12 hours ago
- United News of India
E3 nations threaten to resume sanctions on Iran
Tehran, Aug 13 (UNI) France, Germany, and the UK, collectively known as the E3, have once again threatened Iran with the reimposition of the snapback UN sanctions, unless the country resumes negotiations, reports Iran International. In a letter to UN Secretary-General António Guterres and the Security Council, the E3 foreign ministers reiterated their threats of reimposing international sanctions on Iran under the tenets of the 2015 Joint Comprehensive Plan of Action, unless Tehran resumes talks or asks for a deadline extension. 'We have made it clear that if Iran is not willing to reach a diplomatic solution before the end of August 2025, or does not seize the opportunity of an extension, E3 are prepared to trigger the snapback mechanism,' the ministers wrote, according to Financial Times' report. The letter bears the signatures of French Foreign Minister Jean-Noël Barrot, Germany's Johann Wadephul, and Britain's David Lammy, and comes two months post the ceasefire between Israel and Iran, following their 12-day war. The Iranian mission to the UN did not immediately respond to a request for comment. Iranian Foreign Minister Abbass Araghchi had dismissed the threats, stating that the E3 nations lacked both the capability and the authority, to reimpose said sanctions. Nonetheless, Iran's Ministry of Intelligence has warned ministries and businesses to be prepared for the looming snapback sanctions which seem more and more likely. The leaked document by the Ministry cautioned that renewed sanctions would target arms sales, freeze overseas assets, and reimpose restrictions on industries such as oil, petrochemicals, banking, shipping, insurance and sensitive technologies. As a countering move, a senior Iranian lawmaker warned on Wednesday that the parliament could move to withdraw Iran from the Nuclear Non-Proliferation Treaty (NPT) if Western powers were to reimpose the UN sanctions. 'If the other side takes steps toward operationalizing the snapback mechanism and uses it, the Iranian parliament will definitely respond,' Manouchehr Mottaki, a member of parliament's economic committee, was quoted as saying by Iranian media. He said lawmakers were 'ready to pull the trigger' on an NPT exit, adding that the West had no legal grounds to restore sanctions under the 2015 nuclear deal and was using the threat only as leverage. 'If they make their threat a reality, in line with the guidance of the Supreme Leader, we will also make our threat a reality,' Mottaki said. UNI ANV
The Print
15 hours ago
- The Print
PM Modi likely to visit New York for UNGA session in September
US President Donald Trump will address world leaders from the iconic UNGA podium on September 23, his first address to the UN session in his second term in the White House. The 80th session of the UNGA will open on September 9. The high-level General Debate will run from September 23-29, with Brazil as the traditional first speaker of the session, followed by the US. New York: Prime Minister Narendra Modi is likely to address the annual high-level session of the United Nations General Assembly (UNGA) in September, according to a provisional list of speakers issued by the UN here. According to the provisional list of speakers for the high-level debate of the 80th session of the General Assembly, India's 'Head of Government (HG)' will address the session on the morning of September 26. The Heads of Government of Israel, China, Pakistan, and Bangladesh are also scheduled to address the UNGA general debate on the same day. Modi had travelled to the US in February this year for a bilateral meeting with Trump in the White House in Washington, DC. In a joint statement issued after their meeting, Modi and Trump had announced plans to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025. Even as trade negotiations were ongoing, Trump imposed tariffs totalling 50 per cent on India, including 25 per cent for New Delhi's purchases of Russian oil that will come into effect from August 27. Responding to the tariffs, India's Ministry of External Affairs has said that the targeting of the country is unjustified and unreasonable. 'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' it said. Last week's announcement of Trump's executive order imposing the additional 25 per cent tariff came at a time when a team from the US is scheduled to visit India from August 25 for the sixth round of negotiations for the proposed bilateral trade agreement. The two countries are aiming to conclude the first phase of the pact by fall (October-November) this year. The UNGA list of speakers for the General Debate is provisional, and there is a possibility of changes in schedules and speakers over the next few weeks. The list will continue to be updated accordingly. Considered the 'busiest diplomatic season' of the year at the United Nations Headquarters, the high-level session opens in September annually. The session this year comes amid the continued Israel-Hamas war as well as the Ukraine conflict. Trump has said that in the six months of his second presidential term, he has solved several wars, including a peace agreement between Armenia and Azerbaijan, Cambodia and Thailand, Israel and Iran, Rwanda and the Democratic Republic of the Congo, Egypt and Ethiopia, and Serbia and Kosovo. Trump has repeatedly claimed credit for stopping the May conflict between India and Pakistan. This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
