India’s markets successfully navigated a turbulent quarter of geopolitical shocks, and US-Iran peace deal and oil trading near $70–$80 per barrel will help ease inflation, support the rupee, reduce the import bill, and benefit rate-sensitive and oil-consuming sectors, a report said on Tuesday.
The report from smallcase said the key risk remains any breakdown of the peace deal or renewed disruption at the Strait of Hormuz. It could re-spike crude, revive inflation and rate-hike concerns, and reverse gains across both rate-sensitive and oil-consumer sectors.
Israeli Prime Minister Benjamin Netanyahu said the conflict between Israel and Iran-backed groups was far from over, according to Israeli media reports on Tuesday citing remarks he made during a meeting with reserve officer cadets in Gush Etzion last Thursday.
Addressing the cadets, Netanyahu stressed that Israel’s future security and regional standing would depend on its military capabilities and continued efforts to strengthen them.
“We are now facing Iran and its proxies. We struck them. It is not over yet, but it depends on our strength,” he said, according to the reports.
Netanyahu added that Israel’s position over the next three decades would be shaped by the strength it is able to build and maintain.
He also emphasised the need for greater self-reliance in defence production, while expressing appreciation for continued American support.
“I want arms independence,” he said. “We need an independent arms system of our own. We are producing our own weapons.”
Hezbollah said an Israeli strike in southern Lebanon violated the ceasefire agreement, while the Israeli military said it had targeted armed militants who posed an immediate threat to troops operating in the security zone in the area.
Iranian Foreign Minister Abbas Araghchi will visit Iraqi capital Baghdad next Sunday, Hezbollah-affiliated Al Mayadeen reported on Tuesday, citing an informed source.
Iran said Tuesday that the UN’s nuclear watchdog will not be able to inspect key nuclear sites bombed by the US and Israel last year, as the first round of talks to end the Middle East war wrapped up in Switzerland.
Tehran and Washington have signed a memorandum of understanding to end a war that sowed chaos across the Middle East and rattled the global economy, embarking on a 60-day period to settle broader issues including Iran’s nuclear programme and sanctions relief.
A former Israeli prime minister acknowledged on Tuesday that Israel had smuggled Starlink internet receivers into Iran to help anti-government protesters, though he said Prime Minister Benjamin Netanyahu’s government failed to follow through on the plans.
Naftali Bennett, who served as prime minister in 2021 to 2022, told an audience at the JNS International Policy Summit in Jerusalem that he had initiated a “process of acquiring and smuggling into Iran tens of thousands of Starlink receptors that would allow continuity of the internet and social networks”.
Tensions between Iran and the United Arab Emirates reached a boiling point during the 16th Meeting of BRICS National Security Advisers in New Delhi on Tuesday as Iranian officials formally accused the UAE of direct involvement in military strikes against the Islamic Republic during the operation by the US and Israel.
In a post on X, the Iranian Embassy in India stated that Ghadir Nezamipour, Deputy Secretary of Iran’s Supreme National Security Council, launched a scathing rebuttal against the Emirati delegation during the high-level security forum.
It said that Nezamipour, addressing the gathering, rejected allegations previously levelled against Tehran by the UAE representative, pivoting instead to a direct confrontation regarding the ongoing regional conflict.
“Dr. Ghadir Nezamipour, Deputy Secretary of Iran’s Supreme National Security Council, speaking at the 16th Meeting of Heads of Security Agencies and National Security Advisers of the #BRICS countries in New Delhi, rejected the allegations made against the Islamic Republic of Iran by the representative of the United Arab Emirates,” the Embassy wrote.
Iran on Tuesday said no visit has been scheduled for inspectors from the International Atomic Energy Agency (IAEA) to inspect nuclear sites that were bombed by the United States.
Speaking at a press conference in Tehran, Foreign Ministry spokesperson Esmail Baghaei said there were currently no plans for IAEA inspectors to visit the affected facilities.
His remarks appeared to contradict comments made by US Vice President JD Vance, who had said negotiations in Switzerland resulted in an agreement allowing the IAEA to inspect Iranian nuclear sites.
While the IAEA has maintained engagement with Iran since the 12-day Israel-Iran war in 2025, inspectors have not been granted access to the uranium enrichment facilities targeted by US strikes during the conflict.
Baghaei was also asked about the possibility of Iran importing American agricultural products as part of broader understandings between Tehran and Washington. He said Iran’s import decisions would be based on “price and quality,” without directly addressing comments made by US President Donald Trump and Vice President Vance.
“It is interesting that the philosophy and goal of the war, which was the destruction of Iranian civilization and the collapse of Iran, has now become enriching American farmers,” Baghaei said.
The upcoming negotiations will be held in the presence of Ghalibaf, Araghchi, Vance, and the Prime Ministers of Pakistan and Qatar.
Iranian President Masoud Pezeshkian on Tuesday stressed that the success of the recently concluded US-Iran Memorandum of Understanding (MoU) would depend on both sides fully honouring and accurately implementing their commitments. His remarks came as Iranian Deputy Foreign Minister Kazem Gharibabadi outlined the next phase of negotiations and the agreement’s implementation process.
In a post on X, Pezeshkian said, “The effectiveness of the talks depends on full commitment to the agreed obligations and their precise implementation. Progress on this path will be measured by practical adherence to accepted responsibilities. Statements outside the agreed text do not help advance the negotiations.”
The Iranian president’s comments came hours after US President Donald Trump said he would get “problems solved real fast” with Israeli Prime Minister Benjamin Netanyahu following the latter’s refusal to withdraw Israeli forces from southern Lebanon despite ongoing US-Iran peace efforts.
Netanyahu appeared to reject the spirit of the US-Iran MoU, reiterating that Israel would continue to prioritise its security interests. He maintained that the Israel Defense Forces (IDF) would remain in the security zone in southern Lebanon to protect Israeli citizens and national security.
India on Tuesday welcomed the Memorandum of Understanding (MoU) between the United States and Iran, with National Security Adviser (NDA) Ajit Doval expressing “cautious optimism” over the agreement and its potential impact on regional stability, energy security, and global trade.
Speaking at the 16th BRICS National Security Advisers’ Meeting, Doval said, “India welcomes the MOU reached between the US and Iran. We have got cautious optimism, and we hope that it will work. It will help energy security. The opening of the Strait of Hormuz is a very welcome development.”
Highlighting the significance of the agreement for the global energy markets, NSA Doval noted that the understanding between Washington and Tehran could contribute to greater stability in energy supplies.
He further emphasised that smoother maritime movement through the strategically important waterway would ease disruptions in international trade and supply chains. He said, “It will remove supply chain bottlenecks and many of the shortages in the field of say, fertilisers and chemicals, et cetera, will be met with.”
The NSA also underlined the broader economic benefits of ensuring unhindered maritime transit in the region. He said, “And the freedom of navigation that will be available to the countries in the region and beyond will probably also greatly improve our economic prosperity.”
Ship traffic through the Strait of Hormuz has increased since Iran and the US signed an interim agreement to end the conflict that disrupted global oil supplies and pushed up inflation. However, questions over who will ultimately control the strategic waterway and whether ships could face future transit fees continue to cast uncertainty over efforts to secure a lasting peace deal.
The latest dispute over the Strait of Hormuz resurfaced over the weekend. Following Israel’s recent strikes in Lebanon, Iran announced that it had reclosed the waterway. The US quickly rejected the claim. Maritime tracking data showed dozens of vessels passed through the strait on Saturday and Sunday, although traffic remained well below pre-war levels.
US President Donald Trump has suggested the US could introduce its own tolls on vessels using the strait if Tehran and Washington fail to reach a final agreement during the ongoing 60-day negotiation period.
Passage through the Strait of Hormuz had traditionally been free. However, Iran last month established a new authority tasked with collecting fees from ships and has maintained that vessels should continue registering with the Persian Gulf Strait Authority.
The Strait of Hormuz is bordered by both Iran and Oman and is not owned by any single country. Under last week’s memorandum of understanding, Iran will continue managing the waterway for the time being while holding discussions with Oman and six other Gulf states “to define the future administration and maritime services” of the strait.
As part of the interim arrangement, Iran agreed not to impose tolls on transiting vessels for 60 days.
Everybody is fully aware that Iran will agree to have Major Weapons Inspections in order to ensure 'Nuclear Honesty' long into the future.
UN spokesperson Stephane Dujarric said Sunday was the first day since fighting between Israel and Hezbollah began on March 2 that UN peacekeepers in southern Lebanon “did not detect any trajectories or observe any interceptions.”
Speaking to reporters in New York, Dujarric said the “lack of activities” continued into Monday morning.
“We welcome this reduction in hostilities, and we very much hope this trend continues for the sake of people on the ground,” he said.
US President Donald Trump on Monday said that he will get “problems solved real fast” with Israeli Prime Minister Benjamin Netanyahu after the latter refused to remove the forces from southern Lebanon, despite the ongoing US-Iran peace talks.
When asked how he would ensure that the Israeli PM doesn’t sabotage the negotiations regarding the 14-point MoU, Trump refused to inform his plan but recognised himself as a “problem solver.”
“I’m not going to tell you what I’m going to do, but it gets solved. I’m a problem solver. I get problems solved real fast, including with Bibi,” Trump told reporters.
President Trump’s statement comes in light of Benjamin Netanyahu’s statement yesterday that Israeli forces will continue to remain in Lebanon.
Addressing the Jerusalem News Syndicate’s International Policy Summit 2026, Netanyahu disregarded the US-Iran MoU and reaffirmed his resolve to protect his nation and citizens, asserting that the Israeli Defence Forces (IDF) will remain in the security zone in southern Lebanon, even as the quadilateral meeting in Switzerland agreed to form a “de-confliction zone” to cease the hostilities in Lebanon.
“No matter what happens in the talks, with an agreement, without an agreement, I pledge to you that Iran, as long as I’m Prime Minister, will never have a nuclear weapon. Never. As long as I am the Prime Minister of Israel, I will not let that happen. As long as we need to protect our people, we will remain in the security zone in South Lebanon. No country would be asked to do otherwise,” he said.
The final deal is the house… We haven't built the house, but we've laid a successful foundation to get to a good place for the American people.
Iran has rejected claims by US Vice President JD Vance that Tehran agreed to allow international nuclear inspectors into the country, with Iranian Foreign Ministry spokesperson Esmaeil Baqaei stating that cooperation with the International Atomic Energy Agency (IAEA) will continue only within the framework of existing safeguards obligations and Iranian law.
Speaking to Iran’s state-run news agency IRNA on Monday, following the latest round of US-Iran technical talks in Switzerland, Baqaei said Tehran’s engagement with the UN nuclear watchdog would remain governed by the “Safeguards Agreements” between Iran and the IAEA.
“Iran’s interactions with the Agency, in accordance with Iran’s obligations under the Safeguards Agreements, will continue according to existing procedures and comply with the laws enacted by the Islamic Consultative Assembly and the decisions of the Supreme National Security Council (SNSC),” Baqaei told IRNA.
His comments came after Vance said Iran had agreed to permit nuclear inspectors to enter the country, describing it as one of the outcomes of the negotiations between Washington and Tehran.
Addressing reporters at the Burgenstock resort in Switzerland on Monday, the US Vice President said the first day of talks had gone “very, very good” and had created momentum toward a broader agreement.
“We laid a very good foundation for a successful final deal,” Vance said, adding, “The final deal is the house… We haven’t built the house, but we’ve laid a successful foundation to get to a good place for the American people.”
Deeply saddened by the loss of lives and injuries, including of Indian nationals, in the explosion at Qatar’s Ras Laffan Industrial City. As further details emerge, our Embassy continues to be in touch with Qatari authorities, and is reaching out to render assistance to the families of Indian nationals affected by this tragedy. Our thoughts and prayers are with the victims and their families.
We have never trusted the Americans; we don't trust them now, and it is only reasonable to remain distrustful in the future.
Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has said that the Strait of Hormuz will not return to its pre-war operational status and asserted that Iran will manage the strategic waterway under its own arrangements while continuing to comply with international regulations.
According to Iranian state media Press TV, Ghalibaf made the remarks in an interview upon his return from Switzerland on Monday (local time), following the conclusion of the first round of technical talks with the United States under the 14-point memorandum of understanding between the two sides.
“Everyone should know that the administration of the Strait of Hormuz will never go back to the way it was before the war,” he said.
“Of course, international regulations will be observed, but Iran will administer the Strait of Hormuz,” he added.
Ghalibaf also said Iran had demonstrated its negotiating leverage during the recent talks in Switzerland, claiming Tehran was able to influence the outcome of the discussions.
He further alleged that Iran compelled the United States to revise a social media post within an hour during the negotiations. The post, by US President Donald Trump, had warned Iran against supporting its “proxy groups” in the region, particularly in Lebanon, in a veiled reference to Hezbollah. Ghalibaf described the episode as evidence of Iran’s diplomatic influence.
Referring to the broader regional situation, the Iranian Speaker said the ongoing negotiations were linked to wider conflicts, including developments in Lebanon, and reiterated Tehran’s longstanding position that it does not trust the United States.
The Pentagon has told senators it needs roughly $80 billion, mostly to cover the cost of the US war against Iran, adding to what is already a sizable military spending boost being sought by President Donald Trump.
The White House Office of Management and Budget has yet to make a formal request to Congress. But Defense Secretary Pete Hegseth has been making the rounds on Capitol Hill, including Monday evening. A top deputy defense secretary told senators about the Iran funding request last week, according to two people familiar with the situation but not authorized to discuss it publicly.
The Wall Street Journal first reported on the developments. Push for Pentagon money faces skeptical lawmakers
The push for billions of dollars in Iran war funding comes at a fraught political moment. Lawmakers are skeptical of the deal Trump struck with Iran to bring an end to the war, and wary of next steps. The White House has requested a remarkable $1.5 trillion for the Pentagon — a nearly 50% increase over the current fiscal year’s funding levels.
Senate Majority Leader John Thune said he’s expecting a supplemental spending request from the administration for the war, and when it arrives, “we’ll work through it and see where the votes are.”
“We need to make sure we’re doing everything we can to replenish, resupply a lot our munitions that have been depleted — not only just with what’s happening with Iran, but prior to that,” said Thune.
US President Donald Trump on Monday warned that he would take whatever action he deemed necessary if Iran failed to honour its agreement with Washington. “If Iran doesn’t live up to their agreement, or if they’re not behaving, I will do what I have to do,” Trump told reporters.
Trump and Iranian President Masoud Pezeshkian signed an interim agreement last week, more than three months after the United States and Israel launched attacks on Iran and Tehran retaliated with strikes on Israel and Gulf states hosting US military bases.
Trump said the funds being unfrozen under the agreement were intended to be used to buy food exclusively from the United States.
“All that money’s coming back in the form of purchases of food which they desperately need. They have 91 million people, they can’t feed them. So, the money that we lift is going to go to our farmers,” he said.
However, Iran’s semi-official Tasnim news agency quoted central bank governor Abdolnaser Hemmati as saying Tehran was under no obligation to buy agricultural products from the United States under the current memorandum of understanding.
According to Hemmati, the unfrozen assets would not necessarily be limited to essential goods and could also be used to purchase other non-sanctioned products. The conflict between Iran and Israel, which drew in the United States, has killed thousands, displaced millions and rattled global markets, while pushing oil prices higher.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said the administration of the Strait of Hormuz “would never return to the pre-war situation” and praised negotiators for securing the lifting of the blockade through diplomacy rather than military action.
Speaking on his return from talks in Switzerland, Ghalibaf reiterated Tehran’s distrust of Washington, saying, “We were and are distrustful of the Americans, and it is a condition of reason that we will continue to be distrustful in the future.”
He said resolving the issue militarily would have led to war and further damage, adding that “the blockade was lifted overnight” through negotiations.
Ghalibaf also accused Israel of trying to undermine the diplomatic process, saying the “Zionist regime” opposed negotiations because it saw “its own destruction in this path” and sought to sabotage the talks.
US Vice President JD Vance described the latest round of technical talks between the United States and Iran as part of the 14-point memorandum of understanding (MoU) to end the hostilities in West Asia, in Switzerland, as “a very productive 36 hours”, expressing optimism over progress made on maritime security, regional stability and nuclear oversight of the Islamic Republic.
Speaking to reporters ahead of his departure from Switzerland following technical discussions with Iranian representatives, Vance said significant steps had been taken to establish mechanisms aimed at ensuring stability in the region.
“I feel great about the progress that we made over the last couple of days,” Vance said. According to the US Vice President, one of the key outcomes of the talks was an agreement on measures to keep the Strait of Hormuz open and secure.
“The fundamental things that we got are number one, we set up the mechanism to ensure not only the Straits of Hormuz are open but will stay open. We think about 15 million barrels of oil come out; that’s one of the reasons why oil is so low right now, which also means lower gas prices and gas prices will keep coming down,” Vance said.
He added that the parties had also established a framework to support a regional ceasefire and manage potential future tensions, particularly on the issue of Israeli strikes on Lebanon.
Iran has agreed to establish a communication channel to coordinate ship movements through the Strait of Hormuz and prevent conflicts or incidents in the strategic waterway, Iran’s top negotiator Mohammad Baqer Qalibaf said.
Speaking to state television on his return from talks with the United States in Switzerland on Sunday, Qalibaf said the mechanism would help ensure the safe passage of vessels through the crucial oil transit route.
He also said the agreement for the release of $12 billion in frozen Iranian assets had been finalised during the negotiations.
In two posts on Truth Social, Trump directly targeted a New York Times analysis article headlined, “What Changed After Almost 4 Months of War? Analysts Say Not Much.” The article argued that neither the war nor the subsequent agreement had eliminated what many analysts viewed as the principal threats emanating from Iran.
Responding to that assessment, Trump listed what he said were the consequences of the conflict.
“Their Military is DONE, their Navy is GONE, their Air Force is GONE, their Launching Pads, Missiles, Drones and Manufacturing of same, is almost GONE, their top two sets of Leaders are GONE, their Inflation is at 250%, their Economy is BROKEN, their Soldiers aren’t being paid, the Hormuz Strait is OPEN, THE OIL IS GUSHING, and the U.S. Stock Market and Jobs are at record HIGHS,” Trump wrote.
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