
An uncertain world gets more perilous
Agencies The US on Saturday entered the Israel-Iran war, bombing Iran's three main nuclear sites-Isfahan, Natanz and Fordow. Donald Trump declared it a 'spectacular military success', but it remains to be seen whether the military operation has indeed destroyed Iran's nuclear capability or just caused severe damage to these sites. Iran has said it reserves all options to defend its sovereignty, interests and people. Retaliatory action is certain-where, how and how big remains the question. What is certain is that the world is in for even more uncertainty.The US entry into the war was unprovoked. Trump has been unhappy with the pace and direction of the Washington-Tehran talks, and Israel has been egging on the US to take out Iran's nuclear capabilities.
Reports on IAEA offsite radiation suggest that the sites have been severely damaged, and Iran had, in anticipation, likely moved its stockpile of enriched and highly enriched uranium to an undisclosed location. The US has acknowledged that the Isfahan site was more secure than anticipated. That would mean the Iranian N-programme will be delayed, maybe even temporarily derailed, but not destroyed. The US attack could be the factor that gives the Iranians that extra push to get the programme over the line.Any country that has been attacked, unprovoked, reserves the right to respond. For the region, indeed the world, the big question is the nature of the Iranian response. It could be attacks on US bases and military personnel, or disruptions of ship traffic in the Strait of Hormuz, affecting global trade. The US action will likely strengthen the Russia-Iran-China-North Korea axis, creating further geopolitical fractures and fragmentation. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Looking for quick buck in unlisted shares? Better think twice!
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Economic Times
40 minutes ago
- Economic Times
West Asia tensions may choke LPG supplies
Live Events No Panic Buying from Refiners Staying vigilant (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: About two of every three liquefied petroleum gas (LPG) cylinders used in Indian homes for cooking come from West Asia, making households the first, and politically most sensitive, casualty if regional tensions disrupt supply lines, said industry American strikes on Iran's nuclear sites have heightened concerns about supplies from the world's most prolific oil-producing region getting choked. In planning for such scenarios, Indian policymakers and industry leaders have recognised that not all fuels carry the same risk, with LPG standing out as the most vulnerable if tensions in West Asia boil the past decade, LPG usage in India has more than doubled, reaching 330 million households, thanks largely to a government push to expand its adoption. This has increased the country's import dependence, with roughly 66% of its LPG sourced from overseas, and about 95% of that coming from West Asia, primarily Saudi Arabia, the UAE and has LPG storage capacity across import terminals, refineries and bottling plants sufficient to cover only about 16 days of national average consumption, according to petroleum and natural gas ministry the country is far better positioned with respect to petrol and diesel. As a net exporter of both, India ships out about 40% of its domestic petrol usage and about 30% of its diesel usage, making it simpler to redirect export volumes to the domestic market if LPG can be sourced from alternatives such as the US, Europe, Malaysia and parts of Africa, shipments from these suppliers would take longer to piped natural gas (PNG) is available to just 15 million households in India, making it an impractical substitute for the nation's 330 million LPG connections. After the phase-out of kerosene supply from the public distribution system in most places, electric cooking remains the only viable fallback in the event of an LPG shortage in crude oil, inventories at refineries, pipelines, ships and the national Strategic Petroleum Reserve (SPR) can sustain refinery operations for about 25 days. Refiners have refrained from panic buying amid the Israel-Iran conflict, confident that supplies are unlikely to be choked.'Even if we place orders now, deliveries wouldn't arrive until next month or later,' said an executive, who did not wish to be identified. 'Moreover, our spare capacity to store additional barrels is limited. It doesn't make sense to tie up working capital when the risk of disruption is low. What really matters is staying vigilant and ensuring domestic consumers are protected.'Executives also expect any crude price surge to be short-lived, as global market dynamics remain tilted towards softer pricing. 'The oil market has learned to live with geopolitical shocks. Prices rise sharply after events like the invasion of Ukraine or the Gaza conflict, but eventually settle down as economic realities take hold,' another executive oil prices may erode refiners' margins in the short term, but retail prices of petrol and diesel are unlikely to move, executives said. State-run oil marketing companies have kept pump prices unchanged for about three years and are expected to continue doing so despite fluctuations in global markets.


Time of India
41 minutes ago
- Time of India
West Asia tensions may choke LPG supplies
Heightened tensions in West Asia pose a significant threat to India's LPG supply, with two-thirds of cooking gas sourced from the region. While petrol and diesel supplies are secure due to India's export capacity, limited LPG storage and import dependence create vulnerability. Policymakers are focused on vigilance and consumer protection amidst potential disruptions, with alternatives like electric cooking considered. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads No Panic Buying from Refiners Staying vigilant New Delhi: About two of every three liquefied petroleum gas (LPG) cylinders used in Indian homes for cooking come from West Asia, making households the first, and politically most sensitive, casualty if regional tensions disrupt supply lines, said industry American strikes on Iran's nuclear sites have heightened concerns about supplies from the world's most prolific oil-producing region getting choked. In planning for such scenarios, Indian policymakers and industry leaders have recognised that not all fuels carry the same risk, with LPG standing out as the most vulnerable if tensions in West Asia boil the past decade, LPG usage in India has more than doubled, reaching 330 million households, thanks largely to a government push to expand its adoption. This has increased the country's import dependence, with roughly 66% of its LPG sourced from overseas, and about 95% of that coming from West Asia, primarily Saudi Arabia, the UAE and has LPG storage capacity across import terminals, refineries and bottling plants sufficient to cover only about 16 days of national average consumption, according to petroleum and natural gas ministry the country is far better positioned with respect to petrol and diesel. As a net exporter of both, India ships out about 40% of its domestic petrol usage and about 30% of its diesel usage, making it simpler to redirect export volumes to the domestic market if LPG can be sourced from alternatives such as the US, Europe, Malaysia and parts of Africa, shipments from these suppliers would take longer to piped natural gas (PNG) is available to just 15 million households in India, making it an impractical substitute for the nation's 330 million LPG connections. After the phase-out of kerosene supply from the public distribution system in most places, electric cooking remains the only viable fallback in the event of an LPG shortage in crude oil, inventories at refineries, pipelines, ships and the national Strategic Petroleum Reserve (SPR) can sustain refinery operations for about 25 days. Refiners have refrained from panic buying amid the Israel-Iran conflict, confident that supplies are unlikely to be choked.'Even if we place orders now, deliveries wouldn't arrive until next month or later,' said an executive, who did not wish to be identified. 'Moreover, our spare capacity to store additional barrels is limited. It doesn't make sense to tie up working capital when the risk of disruption is low. What really matters is staying vigilant and ensuring domestic consumers are protected.'Executives also expect any crude price surge to be short-lived, as global market dynamics remain tilted towards softer pricing. 'The oil market has learned to live with geopolitical shocks. Prices rise sharply after events like the invasion of Ukraine or the Gaza conflict, but eventually settle down as economic realities take hold,' another executive oil prices may erode refiners' margins in the short term, but retail prices of petrol and diesel are unlikely to move, executives said. State-run oil marketing companies have kept pump prices unchanged for about three years and are expected to continue doing so despite fluctuations in global markets.


Indian Express
43 minutes ago
- Indian Express
‘Several countries ready to supply nuclear warheads to Iran': Top Putin aide amid US strikes on Tehran
Former Russian President Dmitry Medvedev has said that several countries are poised to directly provide Iran with their nuclear warheads amid US strikes on Iran's three nuclear sites, Isfahan, Natanz and Fordow and added that it is US President Donald Trump who has 'pushed America into another war'. The deputy chairman of the Security Council of Russia, Medvedev, outlined his views in a series of posts on X on what the Trump administration's strikes on Iran's nuclear facilities accomplished for the US. 'The enrichment of nuclear material and, now we can say it outright, the future production of nuclear weapons will continue,' said Medvedev. 2. The enrichment of nuclear material — and, now we can say it outright, the future production of nuclear weapons — will continue. 3. A number of countries are ready to directly supply Iran with their own nuclear warheads. — Dmitry Medvedev (@MedvedevRussiaE) June 22, 2025 Medvedev, who is a top aide of Russian President Vladimir Putin, wrote 'A number of countries are ready to directly supply Iran with their own nuclear warheads.' But the Russian leader refrained from providing details of the specific countries that might pitch in and support Iran. Moscow has historically supported Iran's nuclear program. Earlier, Putin had offered to help mediate a peace talk between Israel and Iran in order to resolve the growing conflict. The Kremlin also offered to help negotiate a suitable nuclear deal between the US and Iran. Moscow's efforts were rejected by Trump, who while taking a potshot at Russia had said, 'They should first take care of their own conflict.' When the former US President Barack Obama's administration signed a nuclear deal with Iran in 2015, which is also known as the Joint Comprehensive Plan of Action, Russia was involved in the process. The deal had lifted economic sanctions on Iran in exchange for a limit on Iran's nuclear program. But Trump withdrew from the deal in 2018 during his first tenure. The US struck three nuclear sites of Iran late on Saturday and the mission involved more than 125 aircrafts which included B-2 Stealth Bombers, according to Chairman of the Joint Chiefs of Staff Gen. Dan Caine.