US-Israel-Iran war LIVE updates: ‘No shortage of fuel in India’ — Piyush Goyal says govt monitoring situation closely

Middle East crisis: As the conflict in West Asia involving Iran, Israel and the US enters day 12, Union Minister Piyush Goyal said on Wednesday that there is absolutely no shortage of fuel in India despite the growing uncertainty in global energy markets.

Speaking to reporters in Trichy, he said that the government is closely monitoring the evolving situation and taking necessary steps to ensure the availability of fuel across the country. He emphasised that the authorities remain vigilant and relevant departments are continuously reviewing developments to safeguard domestic supply chains. 

Meanwhile, the US has destroyed 16 Iranian minelayers near the Strait of Hormuz after reports that Tehran was seeking to mine one of the world’s key oil shipping lanes.

US President Donald Trump warned of “military consequences at a level never seen before” for Iran if the mines were not removed. “If Iran has put out any mines in the Hormuz Strait, and we have no reports of them doing so, we want them removed, IMMEDIATELY!”

He previously claimed that 10 inactive minelayers were sunk, with “more to come”. Meanwhile, Israeli Prime Minister Benjamin Netanyahu has announced that Israel will approve a special wartime budget worth around $13 billion amid the ongoing conflict in West Asia. 

Netanyahu said that the war requires substantial financial backing so that the Israel Defense Forces (IDF) has the necessary resources to sustain its operations. He emphasised that the country is in a prolonged and complex conflict and additional resources are necessary to maintain military readiness, support the IDF, and manage the war’s broader impact. 

Meanwhile, Iran launched a fresh missile attack targeting central Israel and US military installations in Bahrain early Wednesday morning. The strikes come after a wave of Iranian missile and drone attacks late Tuesday night on US bases in Qatar, Kurdistan, the UAE and Bahrain. 

Also Read: West Asia conflict: Gold, silver ETFs rally as dollar slips, oil cools; expert advises staggered buying in bullion

West Asia crisis: Check out the latest updates on BusinessToday.In