Iran Rejects Talks, Shuts Down All Negotiations Amid Israel Strikes: FM Abbas Araghchi

'There'll Be No Hezbollah': Israel's Katz Declares TOTAL WAR, Cites Nasrallah's Fate As Last Warning
Tensions between Israel and Hezbollah continue to escalate as Israeli Defense Minister Israel Katz warned Hezbollah's leadership that the country's patience has run out. Referring to the assassination of former Hezbollah chief Hassan Nasrallah, Katz cautioned current leader Sheikh Naim Qassem that any act of terror would trigger a decisive response. Qassem, in turn, issued a fiery statement condemning U.S. and Israeli "aggression" against Iran and pledging Hezbollah's full support for Tehran. He rejected claims that Iran's nuclear program poses a threat and framed Western hostility as a response to Iran's independence and support for resistance movements. The war of words signals a deepening regional confrontation as Hezbollah vows to 'act as it sees fit' in the growing Israel-Iran conflict.
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Business Standard

19 minutes ago

• Business Standard

US strikes on Iran spark global concern, calls for restraint, diplomacy

UN Secretary General Antonio Guterres said he was gravely alarmed by the use of force by the United States AP Washington The US strike on Iran fuelled fears that Israel's war with Tehran could escalate to a wider regional conflict, and other countries began reacting Sunday with calls for diplomacy and words of caution. President Donald Trump had said Thursday that he would decide within two weeks whether to get involved. In the end, it took just days to decide, and Washington inserted itself into Israel's campaign with its early Sunday attack. It remained unclear early how much damage had been inflicted, but Iran had pledged to retaliate if the US joined the Israeli assault. Some have questioned whether a weakened Iran would capitulate or remain defiant and begin striking with allies at US targets scattered across the Gulf region. Here is a look at reaction from governments and officials around the world. United Nations UN Secretary General Antonio Guterres said he was gravely alarmed by the use of force by the United States. There is a growing risk that this conflict could rapidly get out of control with catastrophic consequences for civilians, the region, and the world, he said in a statement on the social media platform X. I call on Member States to de-escalate. There is no military solution. The only path forward is diplomacy. New Zealand New Zealand Foreign Minister Winston Peters urged all parties to return to talks. He wouldn't tell reporters Sunday whether New Zealand supported President Trump's actions, saying they had only just happened. The three-time foreign minister said the crisis is the most serious I've ever dealt with" and that critical further escalation is avoided. Diplomacy will deliver a more enduring resolution than further military action, he said. China A flash commentary from China's government-run media asked whether the US is repeating its Iraq mistake in Iran. The online piece by CGTN, the foreign-language arm of the state broadcaster, said the US strikes mark a dangerous turning point. History has repeatedly shown that military interventions in the Middle East often produce unintended consequences, including prolonged conflicts and regional destabilization, it said, citing the American invasion of Iraq in 2003. It said a measured, diplomatic approach that prioritizes dialogue over military confrontation offers the best hope for stability in the Middle East. Japan Japan's Prime Minister Shigeru Ishiba is expected to hold a meeting with key ministers Sunday afternoon to discuss the impact from the US attack on Iranian nuclear facilities, according to Japan's NHK television. Japan's largest-circulation newspaper Yomiuri is distributing an extra edition on the attack in Tokyo. South Korea South Korea's presidential office said it would hold an emergency meeting Sunday to discuss the security and economic ramifications of the US strikes and potential South Korean responses. Australia Australia, which shuttered its embassy in Tehran and evacuated staff Friday, continued to push for a diplomatic end to the conflict. We have been clear that Iran's nuclear and ballistic missile programme has been a threat to international peace and security, a government official said in a written statement. We note the US President's statement that now is the time for peace. The security situation in the region is highly volatile. We continue to call for de-escalation, dialogue and diplomacy. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Mint

26 minutes ago

• Mint

US attack on Iranian nuclear sites roils oil market, India braces for possible price surge

New Delhi: Global crude oil prices may face sharp upward pressure when markets open for trade Monday, after the US launched air strikes on three Iranian nuclear facilities — Natanz, Fordo and Isfahan — escalating tensions in the Middle East. The strikes have raised concerns of supply disruptions that could hit major importers like India, which depends on overseas oil for more than 85% of its energy needs. In a televised address on Sunday (India time), US President Donald Trump confirmed the direct American assault on Iran's nuclear programme, ending days of speculation about Washington's entry into the Israel-Iran conflict. He warned that further strikes could follow. Read this | Mint Primer: What if the US joins Israel's war with Iran? 'Remember, there are many targets left. Tonight was the most difficult of them all by far, and perhaps the most lethal. But if peace doesn't come quickly we will go to those other targets with precision, speed and skill," Trump said. Hormuz threat puts India's energy security at risk The strikes have amplified fears of a possible Iranian response, particularly threats to block the Strait of Hormuz, a narrow chokepoint through which nearly 20% of global crude oil and liquefied natural gas flows. Energy markets have long feared that any disruption here could trigger a severe supply crunch. 'Concerns remain over whether supplies through the Strait of Hormuz would be blocked. Refiners are keeping a close watch and looking for alternate sources in case supplies through the strait are halted," said an official with a state-run oil marketing company. Read this | Mint Explainer | Strait of Hormuz: Will Iran shut the vital oil artery of the world? Iran currently produces about 3.3 million barrels per day (mbd) of crude oil, exporting 1.8-2.0 mbd. While Iranian oil facilities have reportedly been hit, the extent of damage remains unclear. But the larger risk lies in a broader regional conflict that could pull in other major oil producers in the Gulf, said ratings agency Icra Ltd in a recent report. India could face significant cost pressures even though it no longer buys oil directly from Iran due to US sanctions. Crude supplies from Iraq, Saudi Arabia, Kuwait and the United Arab Emirates, all routed via the Strait of Hormuz, account for nearly half of India's total imports. About 60% of its natural gas imports also pass through this critical passage. Since 13 June 2025, when the Israel-Iran conflict began, crude prices have risen from $64-65 per barrel to $74-75 per barrel. Oil is likely to average around $70-80 a barrel in FY26, and a sustained rise from current levels risks a reduction in India's growth forecasts, Icra Ratings Ltd had said on Friday. Read this | India concerned about crude oil supply disruptions in Strait of Hormuz as prices surge after Israel's attacks on Iran 'A sustained flare-up in the conflict poses upside risks for estimates of crude oil prices, and India's net oil imports and the current account deficit. A $10/bbl increase in the average price of crude oil for the fiscal will typically push up net oil imports by ~$13-14 billion during the year, enlarging the CAD (current account deficit) by 0.3% of GDP," Icra noted. India's import bill in FY25 stood at $137 billion, according to the Petroleum Planning & Analysis Cell. "Impact on the import bill will depend on how long the elevated prices sustain. However, a 10% increase in crude prices may lead to a 3% increase in the import bill given that crude oil comprises about 30% of India's total imports. With this, the trade deficit may increase to 0.1-0.2% of GDP. There would be some pressure on the currency but an impact on GDP is not seen as of now," said Madan Sabnavis, chief economist at Bank of Baroda. Icra had also said that changes in crude oil prices are likely to translate faster into higher wholesale and consumer inflation. For every 10% increase in crude oil prices, wholesale inflation could rise by 80-100 basis points, while consumer inflation may increase by 20-30 basis points, depending on the extent of pass-through into retail fuel prices. 'Only about 8% of the energy supplies moving through the strait can be rerouted via alternative corridors," said Prashant Vashisht, vice president at Icra. "If the strait is blocked, India would have to source more from regions like Russia and Nigeria." On Friday, Brent crude futures on the Intercontinental Exchange closed at $77 a barrel, down 2.33% amid earlier uncertainty over US military involvement. Oil market volatility is expected to spike when trading resumes, said Rahul Kalantri, vice president for commodities at Mehta Equities. 'We expect a knee-jerk rally potentially pushing Brent to the $80–$85 range or beyond if further conflict escalates," he said, adding that a full blockade of the Strait could drive prices 10–20% higher. Also read | Oil is warming up, but India's inflation may escape the heat Earlier this month, JP Morgan had warned that a major escalation could push crude oil prices as high as $120 a barrel. However, the bank noted that so far, despite multiple historical threats, the Strait of Hormuz has never been fully closed. 'Crucially, for all of recorded history, crude oil continued to flow," JP Morgan wrote. The Indian government is closely monitoring the evolving situation. The petroleum ministry has held consultations with oil marketing companies to assess the state of domestic supplies and build contingency plans.

Mint

29 minutes ago

• Mint

Iran-Israel War: Benjamin Netanyahu held 5-hour meeting with top officials throughout US strikes, says CNN

Iran-Israel War: The United States military struck three sites in Iran on Sunday, marking its official entry into the Israel-Iran war that started about a week ago. President Donald Trump was the first to disclose the strikes. Speaking from the White House after the strikes, President Trump dubbed Iran as "the bully of the Middle East" and warned that the Islamic country 'must now make peace.' Israeli Prime Minister Benjamin Netanyahu lauded President Trump and said that the US acted 'with a lot of strength.' Netanyahu said in a video that Trump called him after the strikes. 'It was a very warm conversation, very emotional,' Netanyahu said. Netanyahu held a five-hour meeting with his top officials that lasted throughout the US strikes on Iran's nuclear facilities, CNN said, quoting sources. The security cabinet meeting began at 10 PM local time and continued until the US carried out its strikes at approximately 3 AM local time. The discussion ended after the US strikes, the CNN report said. Israel also held a security cabinet meeting to monitor the US bombing mission, according to the report. The meeting, which was attended by senior officials involved in Israel's handling of Iran, included several of those closest to Netanyahu. Netanyahu confidant Ron Dermer, along with Defense Minister Israel Katz and Foreign Minister Gideon Sa'ar, attended the meeting. Israel's military chief of staff and the head of its Mossad spy agency were also part of the meeting. Far-right Minister of National Security Itamar Ben Gvir and Finance Minister Bezalel Smotrich participated as well. After the US bombing, United Nations Secretary-General Antonio Guterres warned that the US strikes on Iran represent a dangerous escalation in an already volatile region, posing a serious threat to global peace and security. 'There is a growing risk that this conflict could rapidly get out of control – with catastrophic consequences for civilians, the region, and the world,' Guterres said in a statement as reported by news agency Reuters. Guterres also said it was critical to avoid a spiral of chaos at this hour. 'At this perilous hour, it is critical to avoid a spiral of chaos. There is no military solution. The only path forward is diplomacy. The only hope is peace,' he said. Amid UN warning, Hossein Shariatmadari, the Iranian Supreme Leader Ali Khamenei's representative, has reportedly called for immediate retaliation following the US strikes on Iranian nuclear facilities. Shariatmadari's statement comes hours after US B-2 bombers struck three nuclear facilities in Iran as the Islamic Republic's war with Israel entered its second week. Shariatmadari, the managing editor of Kayhan and also known to be Ali Khamenei's close confidant, has said that Iran should launch a missile strike on the US naval fleet in Bahrain and close the Strait of Hormuz to American, British, German, and French ships.