Donald Trump signed an "Islamabad MOU" at the Palace of Versailles with French President Emmanuel Macron. Pakistani PM Shehbaz Sharif announced the deal, which includes Iran reopening the Strait of Hormuz and the US lifting its naval blockade. Analysts suggest the US made greater concessions due to its desire to end the war.
BPCL Director Raj Kumar Dubey warned of unavoidable petrol and diesel price hikes due to ongoing global energy disruptions and rising crude oil prices. India is diversifying oil sources, including Russian crude, to avoid shortages and accelerate its transition to green energy.
Russian President Vladimir Putin met Chinese leader Xi Jinping in Beijing to discuss the Power of Siberia 2 gas pipeline. The project, crucial for Russia amid declining European exports and for China amidst energy supply disruptions from the Iran war, faces unresolved pricing and financing issues.
Amid global energy disruptions, PM Modi urged Indians to conserve foreign exchange by reducing reliance on imported fuel. He advocated for public transport, work-from-home, avoiding overseas trips and non-essential gold purchases for a year. The Prime Minister also encouraged farmers to halve chemical fertilizer use and shift towards natural farming.
President Trump has directed aides to prepare for a prolonged naval blockade of the Strait of Hormuz, aiming to choke Iran's oil exports and force concessions without triggering wider conflict. This strategy is causing global energy disruptions, with rising gasoline prices impacting American consumers and forcing other nations to scramble for alternative supplies.
