Page 2 - European Union

EU sanctions 45 entities, including 3 India-based firms, over Russia links

Three India-based companies were among 45 entities sanctioned by the European Union on Thursday for their alleged links with Russian military. The EU slapped the punitive actions against the firms as part of its 19th package of sanctions which are part of efforts to put economic pressure on Russia for its invasion of Ukraine. There was no immediate reaction from Indian officials to the EU action. An EU readout said the European Council has identified 45 new entities "directly supporting" Russia's military and industrial complex by "enabling the circumvention of export restrictions on computer numerical control (CNC) machine tools, microelectronics, unmanned aerial vehicles (UAVs) and other advanced technology items". "These entities will be subject to tighter export restrictions with regard to dual-use goods, as well as items which might generally contribute to the technological enhancement of Russia's defence sector," it said. "Seventeen of these entities are located in third ...

Trump's turnaround sanctions target Russian oil firms that fund Ukraine war

The US and the European Union are hitting Russia with another round of sanctions, aiming to cut into oil and gas export earnings that fund Moscow's war against Ukraine. More than 3 1/2 years into the war, the effort remains a cat-and-mouse game, with Russia finding new ways to get around sanctions, and Washington and Brussels adding new ones and looking for ways to plug enforcement gaps. The chief target of the latest round: Russia's biggest oil companies, Rosneft and Lukoil. New US Treasury sanctions threaten their customers in India and China with retaliation that could include being sanctioned themselves. Meanwhile, the EU is phasing out by the end of next year those shipments of Russian liquefied natural gas that come by ship, and is going after cryptocurrency issuers, platforms and exchanges that Russia has used to skirt restrictions on its financial dealings with the outside world. US Treasury Secretary Scott Bessent said the move aimed to push Russian President Vladimir Puti

EU imposes new sanctions on Russian energy, joins US in pressure campaign

The EU will also tighten a transaction ban on two major Russian oil companies and sanction 117 additional so-called shadow fleet vessels

Belgium urges EU partners to share risk of using frozen Russian assets

Belgian Prime Minister Bart De Wever insisted on Thursday that his European partners must share the risk of using billions of dollars in frozen Russian assets that are held in his country to help keep Ukraine's economy and war effort afloat in the coming years. Ukraine's budget and military needs for 2026 and 2027 are estimated to total around USD 153 billion, and the European Union's executive branch has been developing a plan to use Russia's frozen assets as collateral to drum up funds. The biggest tranche of those assets some USD 225 billion worth is held in Belgium, and the Belgian government is wary of using the money without firm guarantees from other EU countries. If we want to give them to Ukraine, we have to do it all together, De Wever told reporters as he arrived for a summit with his EU counterparts in Brussels. If not, Russian retaliation might only hit Belgium. That's not very reasonable. We are a small country, and retaliation can be very hard. They might confiscat

India, EU discuss resolution of pending issues in proposed trade pact

Commerce and Industry Minister Piyush Goyal on Wednesday said he held a meeting with EU Trade Commissioner Maros Sefcovic to discuss outstanding issues related to the proposed trade pact. The meeting was important as Goyal is scheduled to visit Brussels next week to give an impetus to the ongoing negotiations for the proposed trade agreement between India and the European Union. "Had a productive engagement focused on the positive resolution of the outstanding issues with respect to the India-EU FTA with Mr @MarosSefcovic, EU Commissioner for Trade and Economic Security, ahead of my Brussels visit starting next week," Goyal said in a post on X. Goyal's visit follows the conclusion of the 14th round of talks between the two sides from October 6 to October 10. Commerce Secretary Rajesh Agrawal has also held talks with European Commission (EC) Director General for Trade (DG-Trade) Sabine Weyand in Brussels. Engagements between the two sides have increased as they have decided to conc

Apple challenges EU digital markets act in biggest antitrust court test

Apple's case is the most hard-hitting attack on the law, following on from an earlier defeat for ByteDance over its TikTok platform's inclusion in the DMA's scope

EU member nations back EU-India strategic agenda to boost ties, cooperation

All the 27 member nations of the European Union have unanimously backed the block's new strategic agenda with India that seeks to significantly ramp up two-way ties in several key sectors such as defence, trade and technology. The new document was released by the European Commission and the EU high representative for foreign affairs and security policy Kaja Kallas last month. The European Council comprising representatives of all the EU member nations unanimously supported it on Monday, according to EU officials. The new strategic agenda is expected to be adopted at the India-EU summit that is expected to be held in New Delhi early next year. The new strategic agenda identifies five areas of shared interest that include security and defence, connectivity and global issues, prosperity, sustainability, technology and innovation. Beyond the bilateral dimension, the new strategic agenda highlights EU-India joint engagement on global issues and with third partners, reflecting India's .

EU energy ministers push to ban all Russian gas by 2027 amid US pressure

Europe has been under pressure from the US to speed up moves to sever its energy ties with Moscow, and buy more American liquefied natural gas

EU Council approves new strategic agenda to strengthen ties with India

EU's new agenda aims to strengthen cooperation with India in areas including prosperity and sustainability, technology and innovation, security and defence, connectivity, and global issues

UK slaps 90 sanctions on Russian firms, Nayara Energy to curb Kremlin funds

The UK government has imposed sanctions to cut Russian oil revenues, targeting Putin's war funding and aiming to block money flowing to the Kremlin

India-EU free trade talks enter final stage, says commerce secretary

The negotiations between India and the European Union on the proposed free trade agreement are progressing "very well" and have reached the last leg, a senior government official said on Wednesday. The two sides concluded their 14th round of negotiations in Brussels last week, but some Indian officials have stayed back to conclude talks on Rules of Origin (ROO), Commerce Secretary Rajesh Agrawal told reporters here. "We are in the last leg of negotiations. The last leg is the most arduous leg of negotiations because these are the toughest things that are decided at the end. Progress in the last round has been very positive," he said. The 'Rules of Origin' (ROO) provision prescribes minimal processing that should happen in the FTA (free trade agreement) country so that the final manufactured product may be called originating goods in that country. "That (ROO) is one area where a lot of work needs to be done. So we have left the team there. It was planned to have the negotiations for

EU steel duty plan: A double whammy ahead for Indian steelmakers in 2026?

The EU's plan to halve import quotas and impose a 50 per cent tariff, combined with CBAM rollout, could deliver a double blow to Indian steelmakers next year

India, EU conclude 14th round of talks for free trade agreement in Brussels

Senior officials of India and the 27-nation European Union (EU) concluded the 14th round of talks for a proposed free trade agreement in Brussels, an official said. The five-day talks began on October 6 to iron out differences on different issues related to goods and services for the early conclusion of the negotiations, the official said. The Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the closing days of the round for providing a push to the negotiations. Agrawal held discussions with European Commission Director General for Trade Sabine Weyand during the visit. Commerce and Industry Minister Piyush Goyal recently expressed hope that the two sides will sign the agreement soon. The minister is also expected to visit Brussels to meet his EU counterpart Maros Sefcovic to review the progress. Both sides have targeted to conclude negotiations by December. In June 2022, India and the EU bloc resumed negotiations for a comprehensive FTA, an investment

EU starts gradual rollout of digital entry-exit system at external borders

The move is aimed at detecting overstayers, tackling identity fraud and preventing illegal migration amid political pressure in some EU countries to take a tougher stance

EU launches digital entry system for travellers under new border rules

Travellers to Europe, including Indians, will be subject to new entry registrations from Sunday under a phased implementation of the European Union's new digital border system. The EU's Entry Exit System (EES) requires non-EU citizens to register at the border when entering any of the EU countries by scanning their passport and having their fingerprints and photograph taken. EES will be a requirement when entering Schengen area countries including Iceland, Liechtenstein, Norway and Switzerland, with Ireland and Cyprus exempt. For travellers using the Port of Dover, Eurotunnel at Folkestone or Eurostar at St Pancras International in London, the process will take place at the border before they leave the UK. We must do everything we can to prevent terrorists and irregular migrants from entering the Schengen Area illegally, said Rasmus Stoklund, EU's Minister for Immigration and Integration. It is crucial that we maintain effective control over third-country nationals entering the ...

European Commission reviews child safety on Snapchat, YouTube, app stores

The Commission is asking the businesses to provide information on their age verification systems, as well as on how they prevent minors from accessing illegal products

Why the EU shouldn't bow down to Trump's economic strong-arm politics

The EU must resist Trump's pressure on trade and tech rules to protect sovereignty, democracy, and fair global markets, despite potential short-term costs

EU rolls out $1.1 bn plan to boost AI in industries amid sovereignty drive

The move also underscores Europe's goal of achieving strategic autonomy in key sectors amid trade tensions with the United States and China and the dominance of US Big Tech

Europe to start biometric checks for non-EU travellers from Oct 12: Details

The EU's new entry/exit system requires non-EU travellers to register fingerprints, facial scans, and personal details on first entry to the Schengen area, excluding Ireland and Cyprus

Europe wants a reliable partner; India needs to act cautiously and step up

The European Union seeks concessions from India, tolerating ties with Russia and oil export; now India must reciprocate, avoiding unnecessary moves that would further strain EU's trust