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Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector Modi seeks opposition backing to implement women’s reservation before 2029 polls West Asia crisis: Ludhiana handtool export units face labour, gas supply shortages, high input costs Patent application filings in India rise 30.2% to 1.43 lakh in 2025-26: Goyal Meet the man with 138 degrees: Dashrath Singh, an ex-serviceman, earns latest qualification from IGNOU Europe missed AI bus, but India has potential to catch up: Former WEF Director AIG Hospitals, ICMR team up for digital health innovation Juno Joule Bio Fuels begins construction of compressed bio-gas project in Telangana Legendary playback singer Asha Bhosle dies at 92 Signature Global cuts net debt by 77% to ₹200 crore in FY26 Iran aims to restore majority of refining capability within two months Supreme Court to hear on Monday pleas related to SIR of electoral rolls in West Bengal US, India hold engagements to advance defence cooperation Trump shares article suggesting option with him to enforce naval blockade on Iran NCLAT reaffirms project-specific insolvency proceedings against realty firms Iran-US talks in Pakistan ended without deal as Tehran cites ‘excessive demands’ from US Two supertankers U-turn in Hormuz as US-Iran talks break down Time has come to implement Women's Reservation Act: PM Modi's letter to LS, RS floor leaders Iran war diverts US military, attention from Asia ahead of Trump's summit with China's leader Trump says China will have big problems if it ships arms to Iran India will soon become self-reliant in defence sector, find itself among leading nations of the world: Rajnath Singh Pakistan to continue facilitating US-Iran talks, says Dar; urges ceasefire More than 2,000 people killed by Israeli strikes in Lebanon during Israel-Hezbollah war: officials Iran denies US claims of mine clearing ships’ passage through Strait of Hormuz AI to reduce uncertainties and expand opportunities - RBI DG EAM Jaishankar meets members of Indian community in UAE 4 ways war in Iran has weakened United States in great power game US-Iran talks fail after 21 hours in Islamabad, JD Vance cites nuclear deadlock Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Islamabad talks: US and Iran begin negotiations aimed at ending West Asia conflict 51.5 lakh LPG cylinders delivered, 8.7 lakh Indians return amid West Asia crisis: Government India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire 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 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. 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Iran closes Strait of Hormuz, Trump threatens US tolls if final deal not reached in 60 days
AP- PTI · 2026-06-21 · via Latest Business News, Business News India Today | The HinduBusinessLine
Vessels in the Strait of Hormuz near the beach of Bandar Abbas, following the signing of the Islamabad Memorandum of Understanding between the United States and Iran, Iran, June 18, 2026.

Vessels in the Strait of Hormuz near the beach of Bandar Abbas, following the signing of the Islamabad Memorandum of Understanding between the United States and Iran, Iran, June 18, 2026. | Photo Credit: Reuters

Iran on Saturday said that it closed the Strait of Hormuz because of Israel's attacks in Lebanon and warned that while negotiators were going to Switzerland for talks with the United States on their interim agreement, not much likely will happen if the fighting doesn't stop.

US President Donald Trump, in response, threatened to impose US tolls in the crucial waterway if a final deal with Iran isn't reached in 60 days, saying the money would be for “services rendered as the Guardian Angel to the countries of the Middle East”. His social media post underscored that the agreement calls for toll-free travel for 60 days.

The announcements indicated a rough start to technical-level US-Iran talks that key mediator Pakistan said will begin Sunday, with Qatari mediators also participating.

Iran's joint military command said the strait was closed because of the US’ “clear breach of its commitments” by failing to end the war. The interim deal is meant to stop fighting on all fronts.

Shortly after that, Iran's state broadcaster said that the negotiating team was leaving for Switzerland, a trip delayed from Friday.

State media said that the team includes parliamentary Speaker Mohammad Bagher Qalibaf, Foreign Minister Abbas Araghchi and central bank and oil officials, among others. The deal calls for Iran's assets to be unfrozen.

The US disputed Iran's announcement on the strait.

“Iran does not control the Strait of Hormuz. Traffic continues to flow, and US forces are monitoring the situation to ensure this remains the case,” said Capt Tim Hawkins, a spokesperson for US Central Command.

The military said that 55 merchant ships transited Saturday with more than 17 million barrels of oil.

Iran's team departs for talks as uncertainty grows

Negotiations toward a final agreement will begin once key commitments are upheld, Iranian foreign ministry spokesperson Esmail Baghaei said. If they are not, “the memorandum of understanding as a whole will be jeopardised”.

US Vice President J D Vance confirmed that top negotiators Jared Kushner and Steve Witkoff were in Switzerland and working through technical details of anticipated negotiations on Iran's nuclear programme. The interim deal gives negotiators 60 days to reach a nuclear agreement, but that can be extended.

Vance told Fox News that he expects to leave for Switzerland in “the next couple of days”.

As part of efforts to revive direct talks, Pakistani Interior Minister Mohsin Naqvi met with Araghchi in Tehran earlier Saturday, according to officials in Islamabad who spoke on condition of anonymity because of the sensitivity of the issue.

The global economy braced for more uncertainty.

Ships began transiting after the interim US-Iran agreement was signed earlier in the week, a milestone that left plenty of questions unanswered.

The US lifted its blockade of Iran's ports and now allows Tehran to sell its oil freely – terms that have left some in US Congress asking whether the war was worth it.

Israeli attacks in Lebanon kill at least 16

A Hezbollah official told The Associated Press that Iran informed the militant group that Tehran won't reopen the strait until Israel announces publicly that it will comply with a “comprehensive ceasefire” in Lebanon and an end to military operations there. The official spoke on condition of anonymity because he wasn't authorised to speak publicly.

The official said that Hezbollah would commit to a ceasefire if Israel does.

An Israeli military official, speaking on condition of anonymity in line with regulations, later said that the military had received “updated directives from the political echelon to cease fire”.

The official said that the military is operating in a defensive manner in Lebanon, which includes the right to respond to Hezbollah attacks.

The official also said that five Israeli soldiers had been killed in the past 48 hours in southern Lebanon.

Earlier Saturday, Israeli strikes on southern Lebanon killed at least 16 people, including two children, hours after reports emerged of a ceasefire agreement there. Seven people were trapped under rubble after strikes hit the southern city of Nabatiyeh and nearby villages, Lebanon's National News Agency said.

The death toll in the latest Israel-Hezbollah war has surpassed 4,000, Lebanon's health ministry later announced.

An Israeli military official said that Hezbollah fired more than 50 projectiles at Israeli forces in southern Lebanon overnight. Israel's army said that it struck dozens of Hezbollah targets and militants.

On Friday, the Israeli ambassador to Washington, Yechiel Leiter, said that Israel “remains firmly committed to an immediate ceasefire”, if Hezbollah honours the agreement and ceases hostilities.

Earlier Saturday, Hezbollah said it had committed to the ceasefire, but blamed Israel for violating it Friday night and said that it would repel attacks by Israeli troops. (AP) ARI ARI

Published on June 21, 2026