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Business News Today: Latest Business News, Finance News

Markets’ dilemma: Trust the bark or wag of oil prices The sector call illusion Bandu’s Blockbusters For April 12, 2026 Mastering Derivatives: Does Lag Impact Effectiveness Of OI? Who Am I? April 12, 2026 Index Outlook: Rising From Dire Straits US Market Outlook: Gaining Strength Bullion Cues: Gold And Silver Futures Face Barrier F&O Tracker: Tentative Shift In Trend F&O Strategy: Buy L&T Put Maruti Suzuki to launch 4 EVs by 2031 India Inc flags surge in cost of packaging raw material, seeks relief measures India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Iran's new supreme leader Mojtaba Khamenei has severe and disfiguring wounds, sources say No road tax, registration fees for electric vehicles priced up to ₹30 lakh till March 2030: Delhi’s draft EV policy Central Railway to run four special local trains for Ambedkar Jayanti West Asia tensions push up costs for India; further impact hinges on stability: Report ED initiates fresh raids against former Bengal minister Chatterjee in teacher recruitment scam Election Commission reverses Mittal’s DVAC posting, appoints him DGP, TN Armed Police Israel and Lebanon are expected to hold talks. Here’s what to know US, Iran set for peace talks but doubts emerge over Lebanon, sanctions Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Orbicular gets USFDA’s tentative nod for generic Semaglutide Injection in partnership with Apotex Malls, high-streets in NCR clock 45% rise in leasing of retail spaces in Jan-Mar: C&W FIIs pull ₹28,375 crore in five sessions; domestic buyers cushion fall as indices post best week in months Nifty and Bank Nifty Prediction for the week 13 Apr’26 to 17 Apr’26 by BL GURU Proposed Trump arch in Washington DC includes winged figure, eagles, lions and gold inscriptions 'Ladakh' replaces 'Jammu and Kashmir' in Aadhaar records for UT residents Misri ends US trip with focus on civil nuclear cooperation and LPG exports
Tehran labels US ship seizures ‘piracy’ in formal protest...
2026-04-29 · via Business News Today: Latest Business News, Finance News
Vessels in the Strait of Hormuz, Musandam, Oman, April 27, 2026.

Vessels in the Strait of Hormuz, Musandam, Oman, April 27, 2026. | Photo Credit: STRINGER

Amidst intensifying maritime friction, Iran has lodged a formal complaint with the United Nations, accusing the US of engaging in "piracy" following the seizure of Iranian vessels. According to the Iranian state media Tasnim News Agency, the protest was detailed in a letter sent by Iran's UN envoy, Amir Saeid Iravani, to the UN Secretary-General, Antonio Guterres, and the Security Council.

The envoy argued that Washington's justification for the maritime interceptions lacked any standing under global statutes. "Reliance on domestic arrangements, which are inherently illegal, can under no circumstances justify such an abhorrent crime committed through the use of force," he said in the correspondence.

The diplomat warned that such interceptions pose a direct threat to global merchant shipping. Per the Tasnim News Agency, Iravani noted that "such behaviour constitutes illegal coercion, interference in lawful international trade, and the unlawful seizure of property."

The diplomat further underscored the broader implications of the US naval strategy, asserting that the interceptions represent a shift away from diplomatic norms. "Simultaneously, it sets a dangerous precedent that severely undermines the international rule of law," Iravani added.

This legal confrontation at the UN comes as Tehran attempts a parallel diplomatic manoeuvre to de-escalate regional tensions. According to a report by The Wall Street Journal, Iran has submitted a fresh proposal to regional intermediaries offering to cease military operations in the Strait of Hormuz, contingent upon a complete end to hostilities and the removal of the US blockade currently stifling Iranian maritime hubs.

The strategic overture, delivered by Foreign Minister Abbas Araghchi, seeks to dismantle the current geopolitical stalemate. Sources familiar with the matter indicated that the framework would essentially see "discussions about Iran's nuclear programme shelved.

"This push for a resolution was further highlighted on Monday, when Araghchi held talks with Russian President Vladimir Putin, who pledged Moscow's support. In Washington, The Wall Street Journal reports that the administration is actively weighing the offer, with White House Press Secretary Karoline Leavitt confirming that President Trump reviewed the Iranian framework.

However, Secretary of State Marco Rubio noted that while Tehran may be "serious about making a deal" with the US, Washington has no intention of allowing Iran to exercise total authority over the vital shipping lane.The current friction, which reached a flashpoint this month following the US naval blockade, has led to Iran proposing a three-stage de-escalation process.

According to The Wall Street Journal, the initial phase would require the US and Israel to terminate the war and offer formal "guarantees not to start it again."

Under this proposed timeline, neutral mediators would oversee a long-term management agreement for the waterway. However, a significant sticking point remains, as Iranian officials reportedly informed mediators that Tehran still intends to maintain sovereignty over the strait before it would "start negotiations on its nuclear programme and other issues, such as its funding to proxies in the region."

Scepticism regarding the proposal remains high, with experts such as Raz Zimmt of Israel's Institute for National Security Studies suggesting that "it is clear to all that whatever is not resolved by the end of the war is highly unlikely to be resolved afterward."

Despite these concerns, The Wall Street Journal noted that international mediators are encouraging continued remote negotiations.

Published on April 29, 2026