Middle East conflict: The operation reportedly focuses on sites related to missile systems, command centres, and security forces. US-Israel-Iran War: As the conflict in the Middle East entered its sixth day, sources within the government told news agency ANI that India is in a very comfortable position in energy security. They added that stock is being replenished every day and that there is no shortage of LPG or LNG.
They further said that India is in touch with other suppliers as well, adding that Australia and Canada have also offered to sell gas to India. India also signed a new contract with the UAE and the US>
At present, India imports 195 MMSCMD of gas, out of which Qatar supplies only 60 MMSCMD. India is also in talks with the International Energy Agency (IEA) and Organisation of the Petroleum Exporting Countries (OPEC). Besides this, the government is holding talks with the US to secure insurance coverage for ships and the overall energy situation is being reviewed twice daily to ensure supply stability.
Meanwhile, Indian airlines, including IndiGo, Air India, and SpiceJet, are gradually restoring connectivity through special and repatriation flights.
SpiceJet has scheduled multiple special flights from the UAE to India, whereas Air India Express confirmed that scheduled flights to and from Muscat will continue to operate on March 5. Etihad Airways has confirmed that it has suspended all scheduled commercial flights to and from Abu Dhabi till 06:00 UAE time on March 6. The airline stated that limited repositioning, cargo, and repatriation flights are operating, subject to approval from authorities.
Dubai-based airline Emirates is running a reduced flight schedule till further notice. Despite the curtailment, over 100 Emirates flights are scheduled to depart from Dubai and return between March 5 and 6.
These flights will transport passengers as well as essential cargo, including perishable goods and pharmaceutical supplies, as per the airline. Abu Dhabi Airports resumed its limited flight operations at Zayed International Airport, according to the Abu Dhabi Media Office. With this, partial connectivity has restored after recent disruptions.
Oman Air will also operate additional flights to and from Mumbai, London, Istanbul, Bangkok, Kuala Lumpur, and Cairo. The airline will also operate flights between Dubai and India via Muscat.
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Middle East crisis: Catch all the latest developments on BusinessToday.In
Government sources told ANI that India remains in a “very comfortable position” on energy security, with fuel stocks currently adequate and being replenished on a daily basis. Officials stressed that there is no shortage of LPG, LNG, or crude oil globally, and India is actively coordinating with multiple suppliers to ensure uninterrupted availability.
On Thursday, India's stock market ended a four-day losing streak with gains. Both Sensex and Nifty rebounded alongside a global equities recovery. The Sensex climbed 900 points to finish at 80,015, while Nifty gained 285 points to end at 24,765. BSE-listed companies' total market capitalization increased by Rs 6 lakh crore, reaching Rs 452.96 lakh crore.
Adani Ports, L&T, NTPC, Reliance, BEL, and IndiGo led Sensex gainers with rises of up to 4.51%. In contrast, Tech Mahindra, HCL Tech, HUL, ICICI Bank, SBI, and Infosys were the biggest decliners, dropping as much as 1.30%. Among the 30 Sensex stocks, 19 closed in positive territory.
Pakistani Ambassador to Iran Mudassir Tipu said that around 1,000 Pakistani nationals, including students, businesspeople, and pilgrims, have fled Iran ever since the conflict broke out.
Besides this, stranded Indians can book flights between Dubai and India via Muscat on March 6 and 10.
In response to regional flight cancellations and airspace shutdowns, the UAE has announced that tourists and residents stranded in the country will not be penalized. According to a report by Khaleej Times, the Federal Authority for Identity, Citizenship, Customs, and Ports Security issued the waiver to accommodate those affected by travel chaos stemming from regional instability and Iranian military actions.
Iran is ready to abandon its nuclear program on the condition that the United States presents a rewarding alternative offer, says Iran Deputy Foreign Minister
Rising tensions in the Middle East region involving Iran have raised risks to global energy supply chains, especially around the stratregic Strait of Hormuz, raising concerns for major Asian importers, including India, according to a report by Goldman Sachs. Goldman Sachs mentioned that around one-fifth of the world's oil and a significant share of LNG shipments normally pass through the strait.
It further said that tanker traffic through the Strait of Hormuz has already shown signs of disruption as shipping firms, oil producers and insurers are adopting a cautious approach after reports of damaged vessels in the region.
Dr Mohammad Fathali, Iran's Ambassador to India, said on Thursday that his country does not want war but insisted that its "duration and ending" will be determined by Tehran. Speaking in New Delhi, he accused the US of showing "open hostility".
He also claimed that Iran informed neighbouring countries that its strikes were only aimed at American air bases and not regional states. Those bases, according to the envoy, were used to launch attacks on Iranian targets.
"We don't attack (our neighbours)... they provided bases. We have good relation with our neighbours and we announced to all neighbours that we attacked the bases of United States. From these bases, they targeted my elementary schools. They targeted 160 elementary students. This is very important. We attacked only the bases."
The Israeli Air Force said that it had dropped more than 5,000 bombs on targets in Iran as of Wednesday since the conflict began. According to Israel, over 3,000 Iranian soldiers and regime operatives have been killed since the beginning of the war on Saturday.
Prime Minister Narendra Modi on Thursday called for peace and restraint as the war in the Middle East continues to rage on. He said military conflict was never the solution.
Meanwhile, Italy is planning to send air defence assistance to Gulf countries in response to Iranian air strikes.
Prime Minister Giorgia Meloni said, "Like the United Kingdom, France and Germany, Italy intends to send assistance to Gulf countries, specifically in the field of defence and in particular air defence."
Adani Total Gas said that it raised the prices of gas supplied to industrial users if their consumption goes beyond the contracted daily limit. As per a notice sent to consumers, the new rate is ₹119 per standard cubic metre for additional gas used beyond 40 per cent of the daily contract quantity.
Previously, the price for such supplies was around Rs 40 per standard cubic metre, according to a source familiar with the matter.
On Thursday, Iranian state TV aired a message from Ayatollah Abdollah Javaid Amoli calling for the "shedding" of the blood of the Israelis and US President Donald Trump.
"We are now on the verge of a great test, and we must be careful to fully preserve this unity, to fully preserve this alliance," he said in the statement.
He called for "the shedding of Zionist blood, the shedding of Trump's blood."
"The Imam of the time says, Fight the oppressive America, his blood is on my shoulders,'" the ayatollah added.
Iran's Revolutionary Guard claimed responsibility for an attack on a US oil tanker that took place in the northern Persian Gulf. The attack may be connected to an earlier incident that took place near Kuwait, as per experts.
