Page 12 - European Union

Jaishankar joins EU foreign ministers in New York, discusses Ukraine, Gaza

In a press remark following the meeting, Kallas underscored the importance of partnerships with India, Brazil, and Mexico in protecting the rules-based international order

India has not significantly advanced its CBAM preparedness, says GTRI

With just 100 days left for the European Union to impose a carbon tax on several products, including metals, the government and the Indian exporters both have not yet taken significant steps to address this barrier, think tank GTRI said on Sunday. Indian exporters of steel and aluminum are staring at a fresh cost shock as the European Union (EU) begins collecting its Carbon Border Adjustment Mechanism (CBAM) levy from January 1, 2026. The CBAM Regulation notified in May 2023, will initially cover iron and steel, aluminum, cement, electricity, hydrogen, and fertilisers. Over the next few years, the EU plans to extend CBAM to cover all major industrial products. It is designed to equalise carbon costs between EU-made and imported goods. From January 2026, the EU will charge a carbon tariff on selected imports, using the EU Emissions Trading System (ETS) price and adjusting for any carbon price already paid in the exporting country. "Despite having a two-year transition period since

EU to stop Russian LNG imports, targets crypto in 19th sanctions package

The sanctions come days after United States President Donald Trump urged Nato nations to halt oil purchases from Moscow and impose penalties on countries continuing energy trade with Russia

After Trump pressure, EU aims to bring forward Russian LNG import ban

Beyond LNG, or liquefied natural gas, the proposed sanctions would also target more of Russia's shadow tanker fleet and cryptocurrency

EU looks to accelerate ban on Russian LNG in new sanctions package

The new push follows a call between European Commission chief Ursula von der Leyen and U.S. President Donald Trump on Tuesday

EU needs deals with India, others to reduce US dependency: Leyen

'We are in talks with South Africa, Malaysia, the United Arab Emirates and others, European Commission President Ursula von der Leyen said

EU unveils new agenda for India, but energy ties with Russia cast shadow

The European Union on Wednesday unveiled a new strategic agenda to ramp up its engagement with New Delhi in several key sectors such as defence, trade and technology even as the 27-nation bloc's foreign and security policy chief Kaja Kallas said India's military exercises and its purchase of Russian oil "stand in the way of closer ties". The EU said its closer partnership with India is increasingly becoming vital in the wake of shifting geopolitical realities and that it is imperative for the two sides to strengthen economic growth and security. Hours after the 'New Strategic EU-India Agenda' was unveiled, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen reaffirmed their commitment to finalise the much-awaited India-EU free trade deal by the year-end. The top EU leader dialled Modi to greet him on his birthday. "Now is the time to double down on partnerships rooted in shared interests and guided by common values. With our new EU-?India strategy, w

'Hoped for more progress' in talks with India, says EU trade chief

The EU's key interests include cars, wines and spirits, and agriculture -- areas considered sensitive by India, and are still under negotiation

EU launches new strategic agenda to deepen defence, trade ties with India

The European Union (EU) on Wednesday unveiled a new strategic agenda to significantly ramp up its engagement with India in a range of key areas such as defence, trade and energy, and to jointly tackle major global challenges. The EU said its closer partnership with India is increasingly becoming vital in the wake of the shifting geopolitical realities and that it is prudent for the two sides to strengthen economic growth and security. The 'New Strategic EU-India Agenda' marks a significant milestone in relations between the two sides as it aims to "deepen, broaden, and better coordinate" bilateral cooperation, enhance prosperity and security for both partners and help tackle major global challenges, it said. European Commission President Ursula von der Leyen said: "Now is the time to focus on reliable partners and double down on partnerships rooted in shared interests and guided by common values." "With our new EU-?India strategy, we are taking our relationship to the next level,"

EU Commission moves to suspend Israeli trade benefits over Gaza conflict

EU foreign policy chief Kaja Kallas also proposed a package of sanctions on two Israeli ministers, as well as "violent" Israeli settlers and 10 senior members of Palestinian militant group Hamas

EU eyes deeper partnership with India despite concerns over Moscow ties

The European Union and India are in the final stages of negotiating a free trade agreement both sides aim to conclude by the end of the year

Govt taps Uco Bank to manage payments for Nayara Energy after EU sanctions

The government has tasked Uco Bank with processing Nayara Energy's payments after EU sanctions cut the refiner off from domestic and global lenders

Sanctions leave Nayara struggling to secure non-Russian crude supplies

Nayara Energy - part-owned by Russian oil giant Rosneft PJSC and blacklisted by the European Union in July - is facing difficulties in securing non-Russian crude supplies for a second month in a row as western shipping companies refused to ferry oil for it, ship tracking data showed. Nayara, which has already cut down the run rate of its 4,00,000 barrels a day oil refinery at Vadinar in Gujarat, remains heavily reliant on Russian barrels since August. The company got about 2,42,000 barrels per day (bpd) of Russian oil, possibly in ships arranged by Moscow, in August, and another 3,32,000 bpd in the first half of September, preliminary data by global trade analytics firm Kpler showed. It did not get any crude oil, which is converted into fuels like petrol and diesel at the refinery, from other key sources, such as Iraq and Saudi Arabia, in both August and September. Iraq and Saudi Arabia had supplied about 1,20,000 bpd of crude to Nayara in July. "Nayara's situation remains challeng

Exploring ways to boost cooperation in defence, manufacturing with EU: Govt

India and the EU are also exploring avenues for enhanced cooperation in defence industry and manufacturing, the Ministry of External Affairs said

EU could quit Russian gas in a year with US LNG, says energy chief

The US is ramping up pressure on Europe to cut off energy revenue to Moscow, seeking to end the war in Ukraine. As Russia's most lucrative export, its fuel revenue has helped fund the war

EU unlikely to impose 100% tariffs on India on Trump's request; here's why

The European Union treats tariffs and sanctions differently and considers imposing such tariffs as a risky move, and supports targeting specific entities with sanctions

European Union approves 102 more Indian marine product units for exports

The European Union (EU) has approved 102 additional marine product units from India for exports, making them eligible to supply to the bloc, which is the country's second-largest seafood export destination, an official said on Tuesday. With this, a total of 604 Indian units are listed by the EU. "The move would help boost India's seafood exports to the EU. It is expected to help increase our seafood exports by about 20 per cent," the official said. In 2023-24, India's seafood exports to the EU stood at USD 1.1 billion. The development is also important for diversifying India's shrimp exports, which are hit hard by a steep 50 per cent tariff imposed by the US. The official said that listing of these units by the EU was a long pending demand of India. The US, EU, China, Japan, Vietnam and Thailand are major seafood export destinations of India. "The listing is a key development to boost our exports. This also reflects that our units are maintaining high standards," the official ..

EU lists 102 new Indian fishery units for export to member countries

The US is India's largest export destination for seafood, followed by the EU. China, Japan, Vietnam, and Thailand are also major seafood export destinations of India

US, European officials meet to discuss new sanctions, tariffs on Russia

US and European officials met at US Treasury Department on Monday evening to discuss various forms of economic pressure to exert on Russia, including new sanctions and tariffs on Russian oil purchases, a person familiar with the meeting told The Associated Press. The person, who spoke on the condition of anonymity to discuss the meeting, said US officials emphasised to their European counterparts that President Donald Trump is willing to exert significant actions to end the war but expects full cooperation from European partners in whatever actions are taken. The meeting, which lasted less than two hours, highlighted tariff actions, the need for collective action on whatever is determined on sanctions, and how to manage Russian sovereign assets that are still immobilised largely in Europe, among other issues. Officials with the White House, State Department and US Trade Representative participated in Monday's meetings. The European team includes staff focused on energy, sanctions, .

EU considers fresh set of sanctions on Russia to hit banks and oil trade

The bloc is hoping to coordinate some of its latest measures with the US, said the people, who spoke on the condition of anonymity to discuss private deliberations