India on Wednesday denied making any payments – either in cash or cryptocurrency – to Iran to secure safe passage for its vessels through the Strait of Hormuz amid heightened tensions in the region.

The clarification came after two Indian vessels had to turn back from the Strait of Hormuz after Iranian forces fired upon them as they attempted to cross the crucial waterway on April 18.

Before turning back, the captain of Indian tanker Sanmar Herald, in an audio recording that has surfaced, is heard pleading with Iranian forces to stop firing despite prior clearance to pass the Strait of Hormuz. “This is motor vessel, Sanmar Herald. You gave me clearance to go, my name is second on your list… You are firing now. Let me turn back.” While New Delhi has consistently rejected claims of any financial arrangements with Tehran for ship movement through the critical energy corridors, some reports linked the April 18 incident to a crypto scam.Reports suggest scammers are offering shipowners fake safe passage through the strait in exchange for crypto. At least one ship fell victim to the scam and was fired at while attempting to pass through the waterway, according to Marisk, a maritime risk services company.

At a news briefing, Mukesh Mangal, Additional Secretary in the Ministry of Ports, Shipping and Waterways, termed as “fake news” the report of any payment being made for the safe passage of Sanmar Herald.
“News is spreading about a reported payment by the captain of the vessel Sanmar Herald in US dollar to persons claiming to represent the Islamic Revolutionary Guard Corps (IRGC) Navy to grant passage, and fell victim to cyber criminals. We spoke with the owner of the vessel, and he confirmed that it is fake news and no such incident had happened,” he said.He said his ministry, in coordination with the Ministry of External Affairs, assesses the situation before asking Indian vessels, stranded in the Persian Gulf since the start of the Iran war, to cross the Strait of Hormuz.

“This unfortunate incident (of Iranian guards firing on Indian ships) happened on April 18. There was firing on two of our vessels, that’s why they had to go back,” he said. “As we have been telling in past also, we do not have any new data, any confirmation on any of our vessels has paid money to any of the authorities for this purpose.”

He termed as “fake news” reports suggesting that Sanmar Herald paid money to some cybercriminals, and that’s why it was fired upon.

“There is no relation (between the firing and the reports),” he said. “This is fake news.”

Chennai-based Sanmar Shipping denied any payment.

“It has come to our attention that there have been reports on social media about Sanmar Shipping’s very large crude carrier, Sanmar Herald, flying the Indian flag, falling prey to a cryptocurrency scam.

“We would like to clarify that these reports are completely false,” it said in a statement.

The shipping line said it is working in close coordination with the relevant agency of the Indian government to ensure the safe passage of Sanmar Herald.

According to shipping monitor TankerTrackers.com, two India-flagged ships, including a supertanker carrying Iraqi crude, were forced to turn back on April 18 after coming under fire.

The disruptions come as scores of commercial vessels and thousands of seafarers remain stranded in the Persian Gulf since the outbreak of the West Asia war on February 28, which has sharply curtailed movement through the Strait of Hormuz.

The Strait of Hormuz handles about a fifth of global oil and liquefied natural gas flows, making it one of the world’s most critical energy arteries. Iran’s ability to disrupt traffic through the narrow passage has emerged as a key lever in the conflict.

The halt in transit has driven up energy prices, triggered supply shortages in parts of the world and forced some countries to ration fuel, underscoring the global impact of the standoff.

A severe environmental and public health crisis is unfolding across Thailand, Laos, and Myanmar as widespread forest fires and agricultural burning create dangerous levels of air pollution. The recurring smog, exacerbated by the region’s dry season and persistent slash-and-burn farming practices, has led to a significant surge in respiratory illnesses and sparked urgent calls for structural legislative reform, as current government efforts remain hampered by weak enforcement and a lack of regional cooperation.

Key Points

• The northern provinces of Thailand, including Chiang Mai and Chiang Rai, have been subjected to critical, long-term exposure to PM2.5 pollution, which has persisted for over two months.
• Fires are driven by a combination of natural dry-season conditions and widespread agricultural practices, particularly slash-and-burn land clearing for crops and animal feedstock.
• Cross-border pollution remains a major obstacle, as Thai officials struggle to mitigate smoke originating from Myanmar and Laos, where enforcement of burning bans is minimal.
• Medical professionals report an alarming increase in severe respiratory issues and lung cancer cases among non-smokers, attributing these health trends directly to the poor air quality.
• Volunteer firefighters in countries like Laos are currently tasked with managing large-scale blazes while relying on inadequate, basic equipment.
• Lawmakers and health advocates are pushing for the enactment of a comprehensive Clean Air Act in Thailand, arguing that the crisis is a systemic issue that cannot be solved with short-term, superficial measures.

The Rising Impact of Seasonal Forest Fires Across Thailand and the Mekong Region

The Mekong region, encompassing Thailand and its neighboring nations, is currently grappling with a severe surge in forest fires. This seasonal phenomenon has escalated into a significant environmental and public health concern, drawing attention from meteorologists, government officials, and international environmental organizations. As the dry season persists, the proliferation of uncontrolled blazes continues to threaten biodiversity, regional air quality, and the stability of local economies.

Northern Thailand is currently facing a severe environmental crisis as persistent forest fires continue to blanket the region in hazardous levels of PM2.5 pollutants. With thousands of hotspots detected across conservation and national forest areas, residents are suffering from significant health complications, while government officials and emergency responders struggle to contain the blazes. Despite ongoing firefighting efforts and proposed infrastructure improvements, the situation remains dire, prompting urgent calls for stronger legislative action to address the recurring annual air quality disaster.

The primary drivers of these forest fires are a combination of extreme climatic conditions and traditional agricultural practices. The onset of the dry season often leads to parched vegetation, creating highly combustible landscapes. Simultaneously, the persistent reliance on slash-and-burn farming techniques to clear land for seasonal crops remains a major catalyst for ignition. While many of these fires originate as managed agricultural clearing, they frequently escape containment due to high winds and prolonged drought, rapidly evolving into widespread wildfires that transcend provincial and national borders.

The environmental consequences of these fires are profound. Beyond the immediate destruction of forest cover and wildlife habitats, the blazes release substantial amounts of carbon dioxide and particulate matter into the atmosphere. This has resulted in a critical decline in air quality across several provinces in Northern Thailand, Laos, and Myanmar. The presence of hazardous levels of PM2.5 pollutants poses a significant risk to public health, leading to increased respiratory illnesses and creating long-term challenges for healthcare infrastructure in the affected regions.

Regional authorities are increasingly aware of the transboundary nature of this crisis. Because smoke and pollutants do not respect national boundaries, isolated efforts by single governments often yield limited results. In response, there is a growing emphasis on regional cooperation within the ASEAN framework. Current strategies focus on strengthening satellite monitoring systems to identify fire hotspots in real-time, enforcing stricter regulations against unauthorized burning, and incentivizing farmers to adopt more sustainable agricultural methods that do not rely on fire.

Economic activity is also significantly impacted. The tourism sector, a cornerstone of the regional economy, faces disruptions as visibility drops and air quality concerns deter travelers. Furthermore, the agricultural sector faces long-term risks, as repeated burning can deplete soil nutrients and contribute to increased land degradation, ultimately undermining the productivity of the land.

Addressing this recurring crisis requires a multifaceted approach. While immediate emergency response teams remain essential for suppressing active fires, a sustainable long-term solution must address the root socio-economic causes. Transitioning toward modern, fire-free farming technologies and enhancing public education regarding the environmental impacts of burning are critical steps toward mitigation. As the Mekong region navigates the remainder of the current dry season, the focus remains on coordinating regional resources to minimize the damage and developing robust frameworks to prevent such extensive fire activity in future seasons.

Other People are Reading

While market regulator Securities and Exchange Board of India (Sebi) has been taking steps to curb speculative trading in the domestic futures & options (F&O) markets, Zerodha founder and CEO Nithin Kamath on Wednesday highlighted the highly skewed nature of India’s derivatives market, noting that despite widespread perception, the F&O segment remains relatively small.

Kamath said that in March, only about 30 lakh individuals traded F&O contracts, while across FY26, roughly 20 lakh traded exclusively in derivatives. Even after combining equity and F&O participants, the number rises to just around 64 lakh, a fraction of India’s nearly 13 crore investor base.

He pointed out that only 3.8 crore investors were active across segments, implying that just 30% of investors actually traded, underlining limited participation in the markets.

More importantly, Kamath emphasized that brokerage industry revenues are heavily dependent on a small set of active traders, with a disproportionate share of activity concentrated at the top. Around 60–70% of F&O volumes are generated by just 1–2% of traders, reflecting a sharply imbalanced market structure.

According to him, the data suggests that while retail participation has expanded, trading intensity—and consequently revenues—are driven by a very narrow base of investors.

“Despite what people think about F&O trading in India and all its problems, it is still a very, very small market compared to almost anything else. In fact, in the month of March, only about 30 lakh people traded an F&O contract. Across FY26 as a whole, only about 20 lakh people traded only in F&O. If you combine people who traded in equities and F&O, that number goes up to roughly 64 lakh. So this is still a very small market. Altogether, out of nearly 13 crore unique investors, only around 3.8 crore investors were active across cash and F&O. That means only about 30% of investors traded anything at all,” Kamath tweeted.
“And yet, the only reason broker revenues have held up is that a small number of people are trading more. Pretty much the entire revenue pool of the broking industry comes from this relatively small pool of traders. If you look at F&O turnover, around 60–70% of trading volumes come from a tiny set of investors, roughly just 1–2%. That is the lopsided structure of the Indian markets,” he added.

Despite what people think about F&O trading in India and all its problems, it is still a very, very small market compared to almost anything else. In fact, in the month of March, only about 30 lakh people traded an F&O contract. Across FY26 as a whole, only about 20 lakh people… https://t.co/aZbzItQb4P“>pic.twitter.com/aZbzItQb4P

— Nithin Kamath (@Nithin0dha) https://twitter.com/Nithin0dha/status/2046944741955441138?ref_src=twsrc%5Etfw“>April 22, 2026

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