World leaders call on India, Pak to exercise restraint, hope hostilities 'end very quickly'
Operation Sindoor
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Washington/Moscow (PTI): World leaders, including UN chief Antonio Guterres and US President Donald Trump, on Wednesday called on India and Pakistan to exercise restraint and hoped that the hostilities would end "very quickly".
In retaliation against the Pahalgam terror attack, Indian armed forces early Wednesday carried out missile strikes on nine terror targets in Pakistan-occupied Kashmir (PoK) and Pakistan, including Bhawalpur, a stronghold of the Jaish-e-Mohammad terror outfit.
UN Secretary-General Antonio Guterres called for "maximum military restraint" from India and Pakistan, saying the world cannot afford a military confrontation between the two countries.
"The Secretary-General is very concerned about the Indian military operations across the Line of Control and the international border. He calls for maximum military restraint from both countries. The world cannot afford a military confrontation between India and Pakistan,” the secretary-general's spokesman, Stephane Dujarric, said.
US President Donald Trump said he hopes that the hostilities will end "very quickly".
"It’s a shame, he said, adding, "We heard about it just as we were walking in the doors of the Oval (Office). I guess people knew something was going to happen based on a little bit of the past."
"They've been fighting for a long time. They've been fighting for many, many decades and centuries, actually, if you really think about it,” Trump said.
Asked if he has any message for the countries, he said, “No, I just hope it ends very quickly.”
US Secretary of State Marco Rubio said that he was closely monitoring the situation between India and Pakistan.
Russia also expressed deep concern at the escalation of military confrontation between India and Pakistan in the wake of the Pahalgam terror attack.
“We are deeply concerned about the intensifying military confrontation between India and Pakistan after the terrorist attack near the city of Pahalgam,” Russia Foreign Ministry spokesperson Maria Zakharova was quoted as saying by state-run news agency TAS S.
“We call on the parties involved to exercise restraint in order to prevent further deterioration of the situation in the region.
"We hope that the differences between New Delhi and Islamabad will be resolved through peaceful, political and diplomatic means on a bilateral basis in accordance with the provisions of the Simla Agreement of 1972 and the Lahore Declaration of 1999,” the spokesperson said in a statement in the wake of 'Operation Sindoor'.
The United Arab Emirates, meanwhile, asked India and Pakistan “to exercise restraint, de-escalate tensions, and avoid further escalation that could threaten regional and international peace,” according to a statement from UAE Deputy Prime Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan.
"His Highness stressed the importance of heeding the voices calling for dialogue and mutual understanding to prevent military escalation, strengthen stability in South Asia, and avoid further regional tensions," the statement said.
"His Highness reaffirmed that diplomacy and dialogue remain the most effective means of peacefully resolving crises, and achieving the shared aspirations of nations for peace, stability, and prosperity."
"His Highness further emphasised that the United Arab Emirates will continue its efforts to support all initiatives aimed at achieving peaceful resolutions to regional and international conflicts and mitigating their humanitarian consequences," it said.
Japan's Chief Cabinet Secretary Yoshimasa Hayashi said the government is following the situation closely while reiterating its condemnation of the terrorist attack in Kashmir last month.
"We are strongly concerned that further retaliatory exchanges will escalate into a full-blown military conflict," the top government spokesman said at a press conference.
"We strongly urge India and Pakistan to exercise restraint and stabilise the situation through dialogue for the peace and stability of South Asia," Hayashi was quoted as saying by the Kyodo News.
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
