The Rooppur project is Bangladesh’s largest infrastructure initiative. It features two units, each with a capacity of 1,200 megawatts, contributing to a total generation capacity of 2,400 megawatts. Around 300 megawatts of electricity is expected to be supplied to the national grid on a trial basis by August.

Full-scale commercial generation may take up to 10 months after trial generation begins. The plant is projected to meet 10-12 percent of Bangladesh’s electricity demand, enhancing the country’s energy security.

However, Bangladesh faces challenges in its tax policy. The tax-to-GDP ratio has hovered near 7% in recent years, one of the lowest in Asia. The total tax take is roughly $35-40 billion annually.

Potential revenue from new tax measures:

• A targeted inheritance or net-wealth levy could raise roughly $1.5-1.7 billion a year.
• This additional revenue could support infrastructure projects like Rooppur.
• Yet, inheritance tax remains unpopular almost everywhere it exists.

The International Monetary Fund estimates that Bangladesh’s per capita GDP will be higher than India’s by 2026. Currently, Bangladesh’s per capita GDP is nearly twice that of Assam.

Officials have not confirmed when full-scale operations will begin at Rooppur. The next significant milestone will occur when trial generation starts later this year.

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During this visit, Albanese is scheduled to meet with Brunei’s ruler, Sultan Hassanal Bolkiah, and Malaysian Prime Minister Anwar Ibrahim. The discussions will primarily focus on securing fuel and fertiliser supplies, which have become increasingly vital due to ongoing disruptions caused by the conflict in the Middle East.

Australia relies heavily on imports for its energy needs, with approximately 80% of its fuel sourced from abroad. Notably, Brunei plays a significant role in this equation, supplying 9% of Australia’s diesel imports and 11% of its fertiliser-grade urea imports. Meanwhile, Malaysia is Australia’s third-largest source of refined fuel, contributing 10% of its fertiliser-grade urea imports.

Albanese’s visit comes in the wake of localised shortages and soaring prices in Australia, particularly following the closure of the Strait of Hormuz, a critical shipping route for oil. The Prime Minister, along with Foreign Minister Penny Wong, is actively engaging with regional partners to ensure the security of energy supplies.

In addition to securing fuel supplies, Australia also plays a crucial role in the energy landscape of the region, supplying 95% of Malaysia’s imported natural gas. This interdependence highlights the importance of diplomatic relations between these nations.

As the geopolitical landscape continues to shift, the outcomes of Albanese’s discussions in Brunei and Malaysia will be closely monitored. The Australian government aims to fortify its energy security and maintain stable supply chains in the face of global uncertainties.

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Just before the G7 Foreign Ministers’ Meeting, which took place from March 26-27, 2023, in the scenic Abbaye des-Vaux-de-Cernay, France, global leaders were preparing to address pressing issues. The meeting was significant as it included External Affairs Minister Dr. S. Jaishankar from India, invited as a partner country.

During the meeting, discussions centered on the ongoing crisis in West Asia and the critical issue of energy security. Dr. Jaishankar emphasized the urgency of reforming global governance, stating, “I spoke about reform of global governance.” This highlights the importance of international cooperation in addressing global challenges.

In a related event, the French national football team faced Brazil in a match where Kylian Mbappe scored the first goal for France, leading to a final score of 2-0. However, France’s performance was complicated when Dayot Upamecano received a red card, leaving the team with only 10 players.

Brazil managed to score a goal through Bremer after a free-kick, but their overall performance was criticized, with commentators noting, “This wasn’t Brazil’s day.” The match underscored the competitive spirit and challenges faced by teams in high-stakes situations.

Back at the G7 meeting, the focus on energy security was particularly pertinent as global oil and gas prices surged following Iran’s blockade of the Strait of Hormuz, a vital passage for about 20% of the world’s oil and LNG. The G7 members, which include Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, discussed strategies to keep this crucial shipping route open.

As the meeting progressed, it became clear that the G7 serves as a forum for its members to coordinate action in response to major economic, financial, and geopolitical challenges on the global stage. A session was dedicated to the crisis in West Asia, reflecting the urgency of the situation.

In summary, the G7 Foreign Ministers’ Meeting in France not only addressed significant geopolitical issues but also coincided with a notable sporting event, illustrating the interconnectedness of global affairs. The outcomes of these discussions are likely to have far-reaching implications for international relations and energy security.

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The meeting follows Prime Minister Narendra Modi’s address to Parliament on the situation in West Asia. The All-Party Meeting was convened to discuss the escalating tensions in the region, which have disrupted critical maritime corridors and raised concerns about the safety of Indian nationals in Gulf nations.

Defence Minister Rajnath Singh chaired the meeting, which included key figures such as Home Minister Amit Shah and External Affairs Minister S. Jaishankar, along with leaders from various opposition parties. The meeting lasted for 1 hour and 45 minutes.

During the discussions, the government emphasized that it is ‘on top of geopolitics’ and assured that there is enough energy security in the country. Four ships are expected to dock in the next 4-5 days, further stabilizing supply chains.

More than 375,000 Indians have been brought back since the conflict began, highlighting the government’s efforts to ensure the safety of its citizens abroad. Kiren Rijiju, a prominent opposition leader, stated, “All the opposition colleagues have said that in this hour of crisis, whatever decision the government takes, whatever steps it takes according to the prevailing situation, everyone will support it unitedly.”

The External Affairs Minister conveyed that the Prime Minister’s message to the US President was to end the war, stating, “The war should end, because it is hurting everybody.” This reflects the government’s stance on the ongoing conflict and its implications for global stability.

Officials have indicated that the government is taking everyone on board and remains open to discussions with the Opposition. The meeting underscores a collaborative approach to addressing the complexities of the situation in West Asia.

As the situation evolves, observers will be closely monitoring the government’s strategies and the effectiveness of the newly constituted seven empowered groups focused on fuel, supply chains, and fertilizers.

Details remain unconfirmed regarding further actions that may be taken following this meeting, but the government’s commitment to ensuring energy security and the safety of its citizens remains a priority.

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The crisis in West Asia has been ongoing for more than three weeks, creating significant challenges for India. The conflict has raised concerns not only about national security but also about the economic stability of the country, given India’s extensive trade relations with the nations involved in the conflict.

As the situation escalated, Prime Minister Narendra Modi engaged with leaders from Gulf countries, Iran, Israel, and the United States to discuss the implications of the conflict. Modi emphasized the importance of a united voice from India’s Parliament regarding the crisis, stating, “India’s concerns are naturally greater, and therefore it is essential that a united and unanimous voice goes out to the world from India’s Parliament on this crisis.” This reflects India’s strategic position in the region, where nearly one crore Indians live and work in Gulf countries.

In response to the conflict, the Indian government has established 24/7 control rooms and emergency helplines to assist Indians abroad. Since the war began, more than 3,75,000 Indians have safely returned to India, showcasing the government’s commitment to ensuring the safety of its citizens. The Prime Minister noted, “The whole world is urging all parties for the earliest possible resolution of this crisis,” highlighting the global call for peace.

Moreover, the conflict has disrupted supply chains, prompting Modi to state, “Continuous efforts are also underway to determine how we can overcome the disruptions that have occurred in the supply chain.” This is particularly crucial as India has expanded its energy import sources from 27 countries to 41 countries over the past 11 years, ensuring a diverse supply of energy resources.

India’s Strategic Petroleum Reserve, which exceeds 53 lakh metric tonnes, plays a vital role in safeguarding the country against potential energy shortages during such crises. Additionally, India’s solar power capacity has surged from approximately 3 gigawatts to 140 gigawatts in the past 11 years, reflecting the country’s commitment to energy security and sustainability.

In the educational sector, the Central Board of Secondary Education (CBSE) has cancelled the scheduled Class 10th and 12th examinations in Indian schools located in Gulf countries, acknowledging the impact of the ongoing conflict on students and families. This decision underscores the government’s sensitivity to the challenges faced by expatriates in the region.

As the situation continues to evolve, the Indian government remains vigilant, continuously monitoring global developments to protect consumer and industry interests. The Prime Minister has also raised the issue of de-escalation and the reopening of the Strait of Hormuz, a critical maritime route for global oil supplies, indicating India’s proactive stance in international diplomacy.

In summary, the ongoing conflict in West Asia poses unprecedented economic, national security, and humanitarian pressures for India. The government’s multifaceted approach, including diplomatic engagements and domestic safety measures, reflects its commitment to addressing the challenges posed by the crisis while ensuring the welfare of its citizens abroad.

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The ongoing conflict in the Middle East has created uncertainty in global energy markets and significant volatility in international oil prices. In light of this situation, Philippine President Ferdinand Marcos Jr. has declared a state of national energy emergency, aiming to protect the country’s energy security and shield consumers from rising electricity prices.

The declaration, which will remain in effect for one year, allows the government to procure necessary fuel and petroleum products to ensure a timely and sufficient supply. Marcos stated, “A state of national energy emergency is hereby declared in light of the ongoing conflict in the Middle East, and the resulting imminent danger posed upon the availability and stability of the country’s energy supply.”

Currently, the Philippines has around 45 days of fuel supply based on its consumption levels. To bolster its reserves, the government plans to procure 1 million barrels of oil to build its buffer stock. This measure is intended to mitigate the impact of fluctuating energy prices on consumers.

As part of the emergency response, the Philippines will temporarily depend more on coal due to surging liquefied natural gas prices. Presently, coal-fired power plants produce nearly 60% of the country’s power, highlighting the reliance on this energy source during the crisis.

Sharon Garin, a key official, mentioned that the emergency measures could begin as early as April 1. This proactive approach aims to stabilize the energy supply amidst the ongoing geopolitical tensions.

Observers note that the declaration reflects the government’s urgent need to address potential energy shortages and price hikes resulting from the conflict. The situation remains fluid, and further developments are anticipated as the government implements its emergency measures.

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On March 23, 2026, tensions between the U.S. and Iran escalated significantly over the strategic Strait of Hormuz, a critical waterway for global oil and liquefied natural gas supplies. Just before this key development, Donald Trump issued a stark ultimatum to Iran, threatening to hit and obliterate the country’s power plants if the Strait of Hormuz was not reopened within 48 hours.

In response to the mounting tensions, Trump ordered the U.S. military to postpone any strikes against Iranian power plants for a five-day period. This decision was framed as an opportunity for diplomatic engagement, with Trump stating that the U.S. and Iran had been having “very good and productive conversations” regarding a resolution of hostilities.

However, Iranian officials quickly denied that any talks had taken place between Washington and Tehran, underscoring the complexities of the situation. Trump further asserted that for a deal to be reached, Iran must relinquish its enriched uranium stockpile, a point of contention that has long plagued U.S.-Iran relations.

Trump’s ultimatum was aimed at ending Tehran’s control over the Strait of Hormuz, a vital passage through which approximately one-fifth of global oil and liquefied natural gas supplies flow. In a counter-response, Iran threatened to shut down the Strait if Trump proceeded with his threats against its power infrastructure.

Amid these developments, Trump expressed optimism, suggesting that if the five-day halt in military strikes went well, the parties could potentially settle the conflict. He remarked, “We are very intent on making a deal with Iran,” indicating a willingness to pursue diplomatic avenues.

Conversely, an unnamed Iranian security official dismissed the notion of negotiations, stating, “There has been no negotiation and there is no negotiation, and with this kind of psychological warfare, neither the Strait of Hormuz will return to its pre-war conditions nor will there be peace in the energy markets.” This statement reflects the deep-seated mistrust between the two nations.

As of now, the situation remains precarious, with both sides holding firm to their positions. The exact nature and outcome of the talks between the U.S. and Iran remain unclear, and the response of Iran to Trump’s ultimatum is uncertain. Details remain unconfirmed.

The developments in this ongoing saga are critical, as they not only affect U.S.-Iran relations but also have significant implications for global energy markets and security in the region.

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The Strait of Hormuz is considered one of the most important maritime chokepoints in the global energy system. Over 20 million barrels of crude oil pass through this narrow passage daily, making it a critical route for the world’s oil trade. Approximately 40% of India’s crude oil imports transit through this vital waterway, underscoring its significance for Indian energy security.

Recent Developments

On March 12, 2026, an Indian government source indicated that Iran would allow Indian-flagged oil tankers to transit the Strait of Hormuz. This announcement comes amid heightened tensions in the region, where Iran has reportedly attacked at least 16 ships since late February, raising concerns about the safety of maritime operations.

However, an Iranian source has denied that any formal agreement regarding the passage of Indian tankers has been reached, leaving the situation somewhat ambiguous. As of now, 28 Indian-flagged vessels are operating on both sides of the Strait, carrying 778 Indian sailors, which adds to the urgency of ensuring their safety.

Shipping and Safety Concerns

The Suezmax tanker Shenlong, carrying 135,335 metric tonnes of Saudi crude, recently arrived at port in Mumbai after successfully transiting the Strait of Hormuz. This marked the first crude carrier to reach India from the Middle East since the conflict began, highlighting the precarious nature of shipping in the area.

In light of the ongoing military attacks, the Indian foreign ministry has expressed its concern, stating, “India deplores the fact that commercial shipping is being made a target of military attacks in the ongoing conflict.” This statement underscores the risks faced by vessels operating in the region.

Statements from Key Parties

Alireza Tangsiri, an Iranian military official, raised questions about the safety of vessels in the Strait, stating, “Were the ships assured of safe passage through the Strait of Hormuz? This should be asked of the crews of the vessels Express Rome and Mayuree Naree.” He further emphasized that any vessel intending to pass must obtain permission from Iran, adding another layer of complexity to the situation.

What Lies Ahead

As the situation develops, observers are keenly watching how India and Iran will navigate this precarious relationship, especially concerning the safety of Indian vessels. Details remain unconfirmed regarding the exact nature of any agreement between the two nations about the safe passage of Indian tankers.

With 183 Iranian sailors provided safe harbor by India after their vessel docked amidst the conflict, the dynamics of cooperation and tension continue to evolve. The international community remains alert to the implications of these developments for maritime trade and regional stability.

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On March 12, 2026, two oil tankers carrying roughly 3 million barrels of West Asian oil successfully arrived in India after transiting the Strait of Hormuz. Among them, the Liberia-flagged Shenlong is transporting around 1 million barrels of Saudi Arabian crude oil, while an India-flagged VLCC is carrying approximately 2 million barrels of crude from Iraq.

The arrival of these tankers has raised hopes for enhanced energy supplies to India, which relies on imports for around 60% of its liquefied petroleum gas (LPG) requirement, with 90% of these imports passing through the Strait of Hormuz.

Diplomatic Engagements

India’s External Affairs Minister, Randhir Jaiswal, noted that he and Iran’s Foreign Minister have engaged in three conversations recently. “The objective of the diplomatic engagement was to keep the sea route open for Indian vessels so that shipments of crude oil and liquefied natural gas (LPG) continue without major disruption,” he stated.

However, disruptions linked to ongoing conflicts involving the US, Israel, and Iran, along with instability around the Strait of Hormuz, have triggered a shortage of commercial LPG in India. This situation has particularly affected the hospitality sector, which relies heavily on stable LPG supplies.

Market Response

On the same day, the Indian Oil Corporation (IOC) recorded a total traded volume of 56,34,938 shares. The stock opened at ₹157.40, reflecting a 2.01% decrease from the previous close of ₹160.63. The last traded price was ₹157.20, indicating a day’s loss of 1.43%. IOC currently holds a market capitalization of ₹2,26,928 crores.

Future Considerations

Details remain unconfirmed regarding the exact permission status from Iran for the two oil tankers to cross the Strait of Hormuz. Observers are also concerned about the long-term implications of the current disruptions in LPG supply, as India navigates its energy security amidst these challenges.

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The International Energy Agency (IEA) has agreed to release 400 million barrels of oil from its members’ strategic reserves. This decision comes in light of the unprecedented challenges facing the global oil market, largely triggered by the closure of the Strait of Hormuz, which has resulted in the largest oil supply disruption in history.

The proposed release is significantly larger than the 182 million barrels that were released following Russia’s invasion of Ukraine in 2022. Currently, IEA member countries hold more than 1.2 billion barrels of emergency oil stocks, a measure established in 1974 after the Arab oil embargo.

Impact of the Strait of Hormuz Closure

About 20 percent of global oil supplies transit the Strait of Hormuz, and the ongoing conflict in the Middle East has major implications for energy security and affordability. Fatih Birol, the Executive Director of the IEA, stated, “The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA Member countries have responded with an emergency collective action of unprecedented size.”

Birol further announced, “I can now announce that IEA countries have unanimously decided to launch the largest ever release of emergency oil stocks in our agency’s history.” This collective action aims to address the immediate impacts of the supply disruption.

Looking Ahead

While the IEA has taken this significant step, it has not set a timeline for when the stocks will hit the market. Observers are keenly watching how this release will affect global oil prices and energy markets in the coming weeks.

As the situation evolves, officials emphasize the importance of coordinated efforts among member countries to stabilize the market and ensure energy security. The implications of this release will be felt not only in oil markets but also across the global economy.

Details remain unconfirmed regarding the exact timing and logistics of the oil release, but the IEA’s decision marks a critical moment in addressing the ongoing crisis in oil supply.

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