Topic
Incoterms
U.S. Military Uses Iranian Smuggling Tactic for Gulf Oil Transfers Amid Strait Closure
The U.S. military has conducted scores of ship-to-ship oil transfers off Fujairah and Sohar since early May, employing a shuttling technique previously used by Iran to evade sanctions. The operation, involving at least 92 ships, aims to maintain Gulf energy exports after Iran effectively closed the Strait of Hormuz, causing the biggest global energy supply disruption in history. An Apache helicopter involved in the mission was shot down by Iran on June 9.
India's engineering exports jump 24% to USD 12.31 billion in May, EEPC reports as sector adapts to West Asia disruptions
India's engineering exports jumped 24% year-on-year to USD 12.31 billion in May 2026, according to EEPC India. Cumulative exports for April-May 2026-27 stood at USD 22.66 billion, a 16.8% increase over the same period last year. EEPC Chairman Pankaj Chadha highlighted the sector's adaptability amid West Asia conflict and noted that challenges persist despite the US-Iran peace deal announcement.