West Asia War Updates: Middle East crisis may impact rupee and fuel inflation, says FinMin report

West Asia War LIVE Updates: Israeli strikes pound Iran, Lebanon as US warns attacks will intensify

Israeli airstrikes pounded the capitals of Iran and Lebanon as the US apparently struck an Iranian drone carrier at sea, intensifying its campaign targeting the Islamic Republic`s fleet of warships. Iran launched new retaliatory attacks early Friday against neighbouring countries that host US forces. There were no immediate reports of casualties. The latest strikes mark a full week of attacks affecting countries across the Middle East. The Israeli military said the fighting has destroyed most of Iran`s air defences and missile launchers, while US Defence Secretary Pete Hegseth warned that strikes against Tehran were "about to surge dramatically." Tehran has warned of the destruction of the Middle East`s military and economic infrastructure, and the war has rattled financial markets: AP

West Asia War LIVE Updates: West Asia conflict may have deeper economic impact on India than expected: Finance Ministry Monthly review

Global uncertainty is expected to remain elevated for some time amid escalating geopolitical tensions in West Asia, and the implications of the ongoing conflict could have deeper and longer-lasting effects on India than currently understood, according to the Finance Ministry`s February 2026 Monthly Economic Review. The report noted, "If the crisis persists, it could have material implications for the exchange rate and the current account deficit and could stoke inflationary pressures." The report says that the geopolitical situation intensified sharply following the United States and Israel`s strikes on Iran on February 28, 2026, which killed Iranian Supreme Leader Ali Khamenei and triggered retaliatory threats from Tehran. The escalation has disrupted shipping through the Strait of Hormuz, considered the world`s most critical oil chokepoint, handling nearly 20 per cent of global oil flows, and has damaged key energy infrastructure across parts of the Middle East.

West Asia War LIVE Updates: Iran`s exiled crown prince condemns Tehran`s strikes on Arab nations; commits orderly transition of regime

Exiled Iranian Crown Prince Reza Pahlavi on Friday strongly condemned Iranian projectile strikes on multiple Arab nations, calling them "unacceptable violations of sovereignty" and urging an end to Tehran`s hostile actions in the region as the conflict in the region escalates. In a video statement shared on X, Pahlavi criticised the existing Iranian regime for targeting Arab neighbours, including the UAE, Bahrain, Qatar, Kuwait, Oman, Jordan, Iraq, and Saudi Arabia -- saying such attacks reflect long-standing regional aggression, not the will of the Iranian people, claiming that decades of intervention by Tehran have destabilised the region.

West Asia War LIVE Updates: Indian airlines cancel 278 int`l flights; scheduled to operate 96 services to Middle East on Fri

Domestic airlines are scheduled to operate 96 flights to and from the Middle East on Friday while the carriers have cancelled 278 international services for the day, the government said on Friday amid the conflict in the region. The situation in the Middle East has disrupted flight operations as there are restrictions as well as closure of airspaces. Some airlines have commenced limited operations to and from the region, where the conflict involving the US, Israel, and Iran has escalated in the last few days. The civil aviation ministry on Friday said due to the ongoing developments in West Asia and the resulting airspace restrictions, flight operations have been impacted across several sectors.