‘Hormuz should remain open, Iran can never have nuclear weapon’: Key takeaways from Trump-Xi summit

The US and China unilaterally agreed that the Strait of Hormuz should remain open for the free flow of trade and energy supplies and that Iran can never have a nucelear weapon after Donald Trump and Xi Jinping held hi-stakes talks in Beijing on Thursday. The meeting betwee the two leaders is the first since the Iran war broke out in February, leading to energy supply crisis across the world.

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Fuel price hike on cards? After Hardeep Puri, RBI Governor flags Gulf conflict impact on oil markets

India may soon feel a stronger impact of the ongoing conflict in West Asia, with rising global crude oil prices likely to affect consumers if disruptions continue, RBI Governor Sanjay Malhotra said. Addressing the 12th high-level conference on the International Monetary System, organised jointly by the International Monetary Fund and the Swiss National Bank, Malhotra said the Indian government has so far absorbed much of the pressure caused by higher international oil prices.

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