The United States has decided against extending waivers that permitted Indian purchases of Russian oil, tightening pressure on New Delhi at a moment when the Strait of Hormuz crisis is already straining global energy supply lines. India, which has become one of Russia's largest crude customers since Western sanctions redirected Moscow's export flows, now faces a narrower set of options to source discounted barrels without exposure to secondary sanctions risk. Russia has moved to reassure India of continued supply across crude oil, LPG, and LNG, signaling Moscow's intent to preserve one of its most strategically valuable trade relationships. The mechanism here is compounding: Hormuz disruptions reduce available alternatives from Gulf producers while the US waiver withdrawal raises the compliance cost of maintaining Russian volumes. India's government is engaged in active talks with US counterparts, according to sources, suggesting the final trade and policy posture is not yet locked. Energy procurement strategy, rupee-rouble settlement arrangements, and India's broader non-alignment posture will all come under renewed scrutiny in the weeks ahead.
Venezuela's earthquake death toll has reached 1,430 with the US Geological Survey warning fatalities could top 10,000, placing it among Latin America's deadliest in a century. US military planes are landing in Caracas, Washington is mobilising $150 million in aid, and rescue teams from 17 countries are on the ground.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
