Confusion Prevails Over Iran’s Response to US Proposal to End War; Rajya Sabha too Passes Contentious Transgender Bill; Ram Navami and the Changing Character of Secularism in Bengal
India Currently has Crude Stockpiles for only Six Days, Says Report; Huge Sums Paid out to Purchase Royal Challengers and Rajasthan Royals; Beer Industry Hit by Gas Crisis Spurred by West Asia War
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Snapshot of the day
March 25, 2026
Sidharth Bhatia
Confusion abounds over Iran’s response to a United States proposal, with contradictory accounts emerging from international agencies and Iranian media, and little official clarity yet from Tehran. The proposal, reportedly a 15-point list of expectations conveyed to Iran via Pakistan, has also been accompanied by claims from US President Donald Trump that Tehran wants a deal “so badly” to end the war even as the absence of any formal Iranian response complicates that assertion. Several news agencies have reported that Iran’s initial reaction has been less than enthusiastic. Reuters, citing a senior Iranian official, said Tehran’s response was “not positive” but emphasised that the proposal was still under review. However, this measured account sits uneasily alongside reports from Iranian state-owned Press TV, which claimed that Tehran has outright rejected the proposal while simultaneously placing its five conditions on the table for ending the war which includes:
A complete halt to “aggression and assassinations” by the enemy.
The establishment of concrete mechanisms to ensure that the war is not reimposed on the Islamic Republic.
Guaranteed and clearly defined payment of war damages and reparations.
The conclusion of the war across all fronts and for all resistance groups involved throughout the region.
International recognition and guarantees regarding Iran’s sovereign right to exercise authority over the Strait of Hormuz.
Adding to the uncertainty, Iran’s semi-official Fars news agency, quoting a “knowledgeable source”, suggested that Tehran will not accept a ceasefire, describing it as “not logical” to enter talks. Meanwhile, agencies such as Reuters, Associated Press and AFP have cited Pakistani officials confirming that the proposal has been delivered to Tehran and that Islamabad was awaiting a response. So far, Iran and Pakistan have refrained from officially making any comments on the proposal but there are indications that diplomatic movement may be underway. Two senior officials from the Trump administration told CNN that discussions are ongoing for US Vice President JD Vance to travel to Pakistan, or possibly Turkey, in what could be an attempt to push talks forward.
The Modi government, feeling the constraints of its current positioning, appears to be on the sidelines as Pakistan assumes a central role in mediation between Washington and Tehran as it has raised “Pakistan’s global prominence to heights not reached since Pakistan helped mediate the secret diplomatic opening that led to US President Richard Nixon’s visit to China in 1972.”
The development certainly sits uneasily with External Affairs Minister S. Jaishankar’s assertion that India is not a “broker country” like Pakistan, even as New Delhi had projected a mediatory role during the Ukraine–Russia war.
But the Iran conflict has also exposed the limits of that approach. With India currently chairing BRICS, it is facing mounting pressure to steer the bloc toward taking a firmer position on the crisis, placing its diplomatic balancing act under sharper scrutiny, reports Bloomberg.
The rupee hovered near its record low of 93.98 per dollar through the session before closing at 93.9775. Amid the pressure of a depreciating currency, Indian refiners are increasingly settling purchases of Russian oil in alternative currencies, according to people familiar with the matter, reports Bloomberg, as they seek to reduce reliance on the dollar amid rising geopolitical tensions and shifts in US policy. Transactions are being carried out by depositing Indian rupees into special overseas bank accounts held by Russian sellers, which are then converted into the UAE dirham or the Chinese yuan, the sources said, requesting anonymity due to the sensitivity of the information. Some Indian banks with limited offshore presence are facilitating these trades, the news report added.
The Modi government, even as it grapples with the pressures of an energy squeeze, appears to have underutilised allocations for India’s strategic petroleum reserves (SPR). According to
