UK Nationalises British Steel, Preserves Last Blast Furnaces at Scunthorpe Under National Security Grounds

Canada Retaliates with Tariffs on US Goods; Trump Threatens 50% Tariff on Canadian Autos, Steel

Canada-US trade war escalates sharply as Canada announces retaliatory tariffs after negotiations collapse. President Trump threatens 50% tariffs on Canadian vehicles, auto parts, and steel. Ontario Premier Doug Ford warns of cutting electricity and critical mineral exports to the US, risking severe disruptions to integrated North American supply chains.

US-Iran Talks: Key Sticking Points – Lebanon Issue, Strait of Hormuz, Crude Oil Price

After 156 days of war and an MoU, US-Iran talks resume amid uncertainty. Key issues include military aggression in Lebanon, control of the Strait of Hormuz (through which 1/5th of global oil passes), and surging crude oil prices impacting global economies, especially oil-importing nations like India.

India and V4 Hold First Foreign Ministers' Meeting at UNGA 81, Agree on Annual Business Forum and Defence Cooperation

India and the Visegrad Group (V4) of Central Europe – Czech Republic, Hungary, Poland, Slovakia – held their first-ever Foreign Ministers' meeting on the sidelines of the 81st UN General Assembly. They agreed to institutionalize annual meetings, launch a business forum, and deepen defence, technology, and space cooperation. This marks a new diplomatic milestone for India's engagement with a key European sub-regional grouping.

Houthi Missile Attack on Saudi Tanker Reduces Gulf Shipping Traffic to 3 Vessels in Key Straits

The Houthi attack on a Saudi oil tanker has drastically reduced shipping through the Strait of Hormuz and Bab-el-Mandeb, two critical chokepoints for global oil trade. This escalates tensions in the Gulf and could disrupt energy supplies, affecting India's oil imports. Exam relevance: Prelims (geography, current events) and Mains (security, energy security, India's foreign policy).

US-Iran Military Strikes at Strait of Hormuz: China Buys 90% of Iran Oil, Economic Sanctions Deepen

The US and Iran have resumed direct military strikes near the Strait of Hormuz, a critical global oil chokepoint, after a month-long pause. The conflict has an economic dimension: US Treasury threatens secondary sanctions on any country trading with Iran, but China buys 90% of Iran's oil, creating a diplomatic dilemma. This is crucial for India's energy security and understanding of global sanctions dynamics.

Strait of Hormuz Blockade: Iran Revolutionary Guards Set Conditions for Reopening Including End of Sanctions and War Compensation

The Strait of Hormuz, a critical chokepoint for global oil transit, remains blocked by Iran's Revolutionary Guards after US-Israel attacks in February 2026. Iran has set multiple conditions for reopening, including compensation for war damages, lifting sanctions, and ending aggression against its allies in Lebanon, Palestine, Yemen, and Iraq. The crisis threatens global energy security and has led to attacks on vessels, with mediators urging return to a June memorandum.

India-Uzbekistan Comprehensive Strategic Partnership: $5 Billion Trade Target by 2030, Uranium Supply Deal

India and Uzbekistan elevated ties to Comprehensive Strategic Partnership, agreeing on long-term uranium supply for India's civilian nuclear program and setting a $5 billion bilateral trade target by 2030. This visit strengthens India's 'Connect Central Asia' policy and counters China's influence in the region, with 11 pacts signed across energy, defence, and culture.

ONGC, OIL Privatisation Debate: Strong PSUs, Strategic Reserves Essential for Energy Security

The article argues against privatising ONGC and OIL, emphasising that state-owned oil PSUs are crucial for India's energy security during geopolitical disruptions. It highlights the success of ethanol blending (20% blending, ₹1.9 lakh Cr forex savings) and calls for a dual strategy: strong PSU upstream production plus expanded strategic petroleum reserves.