Page 16 - European Union

Govt opposes EU plan for capital flow checks, cites sovereignty issues

The proposal, unusual in most free trade agreements, has raised concerns in New Delhi over limiting its ability to act unilaterally during crises

Europe and China to hold trade talks; low expectations for major agreements

European leaders are meeting with top Chinese officials in Beijing on Thursday to discuss trade, climate change and global conflicts, with observers saying expectations were low for any solid agreements. The talks, initially supposed to last two days but scaled back to one, come amid financial uncertainty around the world, wars in the Middle East and Ukraine, and the threat of U.S. tariffs. Neither the EU nor China is likely to budge on key issues dividing the two economic juggernauts. European Commission President Ursula von der Leyen and European Council President Antnio Costa will meet with Chinese President Xi Jinping and Premier Li Qiang to mark 50 years of relations between Brussels and Beijing. Von der Leyen and Costa were expected to challenge China's strategies on a number of issues during the talks. They include Beijing's position on Russian President Vladimir Putin's full-scale invasion of Ukraine; and China's trade imbalance with the EU, persistent cyberattacks and ...

Coercive bilateralism: New world order defined by how trade deals are made

For India, the challenge is to strike a balance between tactical necessity and economic priorities

EU, US near trade deal to avoid 30% tariffs, settle at 15% rate instead

The rate, which could also extend to cars, would mirror the framework agreement the United States struck with Japan

CBAM exemption may not offer much relief to Indian steel MSMEs: Experts

50-tonne threshold seen as too low to ease burden; experts call for green transition or market diversification

Rosneft's stake sale in Nayara hits European Union sanctions roadblock

Rosneft's proposed sale of its stake in Nayara Energy has encountered a significant roadblock due to the European Union's latest sanctions on Russia's oil sector

New EU Russia curbs may bolster Indian oil refiners' reliance on traders

In its 18th package of sanctions against Russia the European bloc banned imports of refined petroleum products made from Russian crude coming from third countries

Trump's policies push European Union toward greater unity, strength

The European Union has its problems, but the bloc is gaining public trust and making new friends. President Trump's attacks are one reason why

Russia launches airstrike on Kyiv hours before talks on support for Ukraine

Russia unleashed one of its largest aerial assaults on Ukraine in recent months, only hours before the UK and Germany are to chair a meeting to discuss US President Donald Trump's plans for NATO allies to provide Ukraine with weapons. The attack killed two people and wounded 15, including a 12-year-old, Ukrainian President Volodymyr Zelenskyy said. The drone and missile assault on Kyiv overnight into Monday underscored the urgency of Ukraine's need for further Western military aid, especially in air defence, a week after Trump said deliveries would arrive in Ukraine within days. The virtual meeting will be led by British Defense Secretary John Healey and his German counterpart Boris Pistorius. Healey said US Defence Secretary Pete Hegseth and NATO leader Mark Rutte, as well as NATO's Supreme Allied Commander Europe, Gen Alexus Grynkewich, will attend the meeting of the Ukraine Defence Contact Group. Moscow has intensified its long-range attacks on Ukrainian cities, and analysts say

Oil prices change little as investors eye impact of new sanctions on Russia

The EU approved on Friday the 18th package of sanctions against Russia over the conflict in Ukraine, which also targeted India's Nayara Energy, an exporter of oil products refined from Russian crude

EU plans retaliation strategy as US hardens trade stance before deadline

The overwhelming preference is to keep negotiations with Washington on track in a bid for an outcome to the impasse ahead of next month's deadline

Rosneft calls EU sanctions on Nayara Energy unjustified and illegal

Russian oil giant Rosneft on Sunday termed as unjustified and illegal the sanctions that the EU has slapped on its Indian unit, Nayara Energy. "Rosneft Oil Company considers the European Union's decision to impose restrictive measures on the Indian refinery of Nayara Energy as unjustified and illegal," it said in a statement. "These sanctions are yet another example of extraterritorial implementation of politically motivated restrictions that blatantly violate international law and infringe on the economic interests of a sovereign state." The European Union on Friday imposed sanctions on the Indian oil refinery of Rosneft and lowered the oil price cap, as part of a new raft of measures against Russia over its war in Ukraine. The fresh sanctions package on Russia included new banking restrictions and curbs on fuels made from Russian crude oil. The lowered oil price cap - currently set at USD 60 per barrel - means Russia will be forced to sell its crude at reduced rates to buyers li

EU curbs on Russian oil may hit India's $15 bn fuel exports: GTRI

India's petroleum product exports worth USD 15 billion to the European Union (EU) may be at risk as Brussels moves to restrict imports of Russian crude oil refined in third countries, economic think tank GTRI said. The 18th package of sanctions by the 27-nation EU included a set of measures largely aimed at curbing the revenues of Russia's oil and energy sector, such as an import ban on refined petroleum products made from Russian crude oil and coming from any third country. The Global Trade Research Initiative (GTRI) said that a central component of the package is a ban on the import of refined petroleum products made from Russian crude and exported via third countries, excluding only a select few allies like the US, UK, Canada, and Switzerland. This measure will hurt nations such as India, Turkey, and the UAE, which have been refining Russian crude and selling diesel, petrol, and jet fuel to Europe, it said. "India's USD 5 billion exports of petroleum products to the EU are at ri

G7 to counter China's economic sway, rare earth dominance, says Klingbeil

Beyond economic resilience, the G7 faces broader strategic concerns over its declining influence in the Global South, as China and Russia strengthen ties in regions like Africa

India, EU resolve digital differences in free trade agreement talks

'Substantial differences' remain over sustainable development chapter

India criticises EU sanctions on Russia, including Gujarat refinery

The "Government of India considers the provision of energy security a responsibility of paramount importance to meet the basic needs of its citizens," said MEA

EU imposes sanctions on Rosneft's India refinery, lowers oil price cap

The European Union on Friday imposed sanctions on the Indian oil refinery of Russian energy giant Rosneft and lowered the oil price cap, as part of a new raft of measures against Russia over its war in Ukraine. The fresh sanctions package on Russia included new banking restrictions, and curbs on fuels made from Russian crude oil. The lowered oil price cap - currently set at USD 60 per barrel - means Russia will be forced to sell its crude at reduced rates to buyers like India. As the second-largest purchaser of Russian oil, India stands to benefit from this move. Russian crude currently accounts for nearly 40 per cent of India's total oil imports. "For the first time, we're designating a flag registry and the biggest Rosneft refinery in India," EU foreign policy chief Kaja Kallas said in a post on X. Rosneft owns 49.13 per cent stake in Nayara Energy Ltd, formerly Essar Oil Ltd. Nayara owns and operates a 20 million tonne a year oil refinery at Vadinar in Gujarat as also over 6,750

EU targets Russia's energy revenue, shadow fleet with new sanctions

The European Union approved on Friday a new raft of sanctions against Russia over its war on Ukraine, including a lower oil price cap, a ban on transactions with Nord Stream gas pipelines, and the targeting of more shadow fleet ships, EU foreign policy chief Kaja Kallas said. The message is clear: Europe will not back down in its support for Ukraine. The EU will keep raising the pressure until Russia ends its war, Kallas said in a statement. Kallas said the EU move amounts to one of its strongest sanctions packages against Russia to date, linked to the war, which is now in its fourth year. It comes as European countries start to buy US weapons for Ukraine to help the country better defend itself. The European Commission, the EU's executive branch, had proposed to lower the oil price cap from USD 60 to USD 45, which is lower than the market price, to target Russia's vast energy revenues. The EU had hoped to get major international powers in the Group of Seven countries involved in

EU eyes local-only food sourcing for schools in 2028 farm reforms

Draft EU proposal mandates sourcing fruit, vegetables, and milk from within Europe for school food, under the 2028 CAP overhaul focused on domestic production

Trump likely to impose 10-15% tariff rates for more than 150 countries

In an interview with Real America's Voice on Wednesday, Trump said that his administration has not yet decided on the rate yet, adding that it would probably be 10 or 15 per cent