As Pak mediates US-Iran talks, is India quietly reshaping balance of power?

The latest episode of Statecraft captures a rapidly shifting geopolitical landscape where diplomacy, strategy and power moves are unfolding in parallel. At the centre is Pakistan, hosting a second round of US-Iran talks — a notable shift for a country once viewed with scepticism. Its role as mediator reflects a calculated effort to regain relevance, backed by offers of counterterrorism cooperation, access to critical minerals and emerging financial avenues. At the same time, broader dynamics reveal a mix of resilience and quiet assertion. China has cushioned the impact of disruptions in the Strait of Hormuz through large oil reserves and a growing shift to renewables and electric vehicles. India, meanwhile, is moving ahead with a €5 billion submarine deal with Germany aimed at strengthening its position in the Indian Ocean through advanced stealth capabilities and local manufacturing. Alongside this, Indian and US officials are working to finalise the first phase of a trade agreement after tariff reductions signalled improved economic ties. Yet beneath these developments lies a deeper concern — satellite imagery showing major oil spills in the Persian Gulf linked to ongoing strikes.