Prime Minister Narendra Modi and US President Donald Trump held a 40-minute phone conversation on Tuesday and discussed the US blockade of the Strait of Hormuz, US Ambassador to India Sergio Gor said.
“I just want you to know that we all love you,” the US president told PM Modi, according to Gore, as quoted by PTI. Some big deals, including energy, are expected between India and the US in the next few days and weeks, the ambassador said.
Prime Minister Modi confirmed the phone call from Trump
PM Modi confirmed the details of his conversation with Trump in a post on X. He said, “Received a phone call from my friend President Donald Trump.”
“We have taken stock of the substantial progress made in our bilateral cooperation in various sectors. We are determined to further strengthen our comprehensive global strategic partnership in all areas,” PM Modi wrote on X.
He added: “We also discussed the situation in West Asia and stressed the importance of keeping the Strait of Hormuz open and secure.”
This is the third phone conversation between PM Modi and Trump this year. They previously spoke on February 2 to announce progress on a trade deal and on March 24 to discuss the situation in West Asia.
American blockade of the Strait of Hormuz
The phone conversation between the two leaders came days after the US president announced the blockade of the Strait of Hormuz. Trump imposed restrictions on the key economic route after peace talks between Iran and the US side in Islamabad last week failed to reach a peace deal.
After the meeting, Trump said in a post on TRUTH SOCIAL: “…the meeting went well, most points were agreed upon, but the one point that really mattered, NUCLEAR, was not. He said, ‘IRAN IS NOT WILLING TO GIVE UP ITS NUCLEAR AMBITIONS!’
In this post, Trump also announced the blockade of the Strait of Hormuz. He said: “Effective immediately, the United States Navy, the best in the world, will begin the process of BLOCKING all ships attempting to enter or exit the Strait of Hormuz.”
The US president later announced the exact time the blockade would take effect. “The United States will block ships entering or leaving Iranian ports on April 13 at 10:00 a.m. ET. Thank you for your attention to this matter! President DJT,” he said in another post.
Iran has threatened to retaliate against ports in the Persian Gulf if attacked. “If you fight, we will fight,” Iranian Parliament Speaker Mohammad Bagher Qalibaf said in a statement addressed to Trump.
Since the start of the war, Iran has restricted sea traffic, with most commercial vessels avoiding the waterway.
The actual closure of the Iran Strait, through which a fifth of the world’s oil is transported in peacetime, sent oil prices skyrocketing, raising the prices of gasoline, food and other essential goods far beyond the Middle East.
Conflict in the Middle East increases risk to global financial stability, IMF warns
The International Monetary Fund (IMF) warned on Tuesday that war in the Middle East was raising risks to global financial stability through inflationary pressures that could tighten funding markets, straining non-banks, private credit and AI borrowers.
In its half-yearly report on global financial stability, the IMF warned that global stock prices have fallen 8% since February, while government bond yields have risen sharply, driven by a jump in energy prices and market expectations of higher inflation. The war, which led Iran to close the Strait of Hormuz, sent oil prices soaring.
(With input from agencies)
