Page 21 - European Union

India's fuel exports face EU sanction risk amid West Asia oil crisis

The bloc's proposal on barring imports of diesel, gasoline & jet fuel derived from Russian crude oil in refineries is of concern because it does not require US or G7's cooperation for implementation

EU plans legally binding ban on Russian gas imports by end of 2027

The proposals set out how the European Union plans to fix into law its vow to end decades-old energy relations with Europe's former top gas supplier, made after Moscow's 2022 invasion of Ukraine

Russian oil freight rates to India ease, EU curbs may reverse trend

The European Union has put forward a new sanction package against Russia over Ukraine and proposed to lower the Group of Seven nations' price cap on Russian crude oil to $45 a barrel from $60 a barrel

India, EU aim to finalise FTA by end of this year, says Jaishankar

Jaishankar, who is in France as part of his three-nation visit, said India also seeks to conclude a defence and security partnership with the European Union

EAM welcomes European Parl members' backing for stronger India-EU ties

External Affairs Minister S Jaishankar has met leaders of the European Parliament and welcomed their support for "stronger" India-EU relations. Jaishankar, who met the leaders on Tuesday during his visit to Belgium and Luxembourg, also praised their understanding of India's right to defend itself against terrorism. He had a "pleasure interacting" with European Parliament members Angelika Niebler, Urmas Paet, Pilar del Castillo, Vladimir Prebilic, and Winkler Gyula, the minister said in an X post. "Welcomed their support for stronger India - EU ties. Also appreciate their understanding of India's right to defend itself against terrorism," he said, adding that they "exchanged perspectives on global developments and regional issues." Earlier in the day, he also called on Belgium Prime Minister Bart De Wever and met King Philippe of Belgium. Jaishankar also met European Commission President Ursula von der Leyen and praised her "strong condemnation" of the Pahalgam attack and solidarit

Jaishankar congratulates Portugal FM on national day, eyes stronger ties

Currently, Jaishankar is on an official visit to France, the European Union (EU), and Belgium from June 8 to 14, 2025, the Ministry of External Affairs announced in a press release on Sunday

FTA negotiations: European Union relents on raw material supply clause

Bloc earlier wanted India to commit to uninterrupted supply

Switzerland to exchange crypto info with India, 73 other countries

Switzerland on Friday proposed an automatic exchange of information on crypto assets with India and 73 other countries, a move likely to help track funds stashed by Indians abroad in virtual currencies. India and Switzerland already have an automatic exchange of information framework in place for bank accounts and other financial assets held by Indians in Switzerland, and vice versa. The two countries exchange this information yearly, and it has helped Indian authorities unearth many cases of undisclosed funds stashed abroad by Indians. While there are no clear-cut regulations as yet in India on cryptocurrencies, they are regulated from the perspective of anti-money laundering laws. The Reserve Bank of India has consistently maintained that it is concerned about cryptocurrencies as they can hamper financial stability, but these virtual currencies are considered legal tender in various other countries. While there are no official estimates, it is suspected that a large number of ..

NATO on cusp of accepting Trump's 5% defence investment demand, says Rutte

Most U.S. allies at NATO endorse President Donald Trump's demand that they invest 5% of gross domestic product on their defense needs and are ready to ramp up security spending even more, NATO Secretary-General Mark Rutte said Thursday. There's broad support, Rutte told reporters after chairing a meeting of NATO defense ministers at the alliance's Brussels headquarters. We are really close, he said, and added that he has total confidence that we will get there by the next NATO summit in three weeks. European allies and Canada have already been investing heavily in their armed forces, as well as on weapons and ammunition, since Russia launched a full-scale invasion of Ukraine in 2022. At the same time, some have balked at U.S. demands to invest 5% of GDP on defense 3.5% on core military spending and 1.5% on the roads, bridges, airfields and sea ports needed to deploy armies more quickly. Still struggling to meet the old goal: In 2023, as Russia's full-scale war on Ukraine entered i

Held 3 meetings in 35 days with EU official to push FTA talks, says Goyal

Commerce and Industry Minister Piyush Goyal has held three meetings within a short span of 35 days with the European Commissioner for Trade Maros Sefcovic with an aim to give an impetus to the reposed negotiations for a free trade agreement. Goyal said on Thursday that India has already signed similar agreements with four-European nation bloc EFTA and the UK. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Now, India is in the process of concluding the negotiations with the 27-nation bloc European Union. "We have held three meetings in 35 days. It shows our shared commitment for the FTA... we are trying to do it faster," Goyal told reporters here. The minister is here on a two-day visit. He is meeting leaders and businesses to boost trade and investments between the two countries. The first and the second meetings between Goyal and Sefcovic were held on May 1 and May 23 in Brussels, while the third meeting concluded on June

Europe wants to banish Russian gas, but the US may have other plans

A large Republican donor wants to buy a Russian pipeline to Germany. The White House has entertained the idea of working with the Kremlin to supply Russian gas to Europe

EU warns China's rare earth export curbs may trigger supply crisis

EU presses China to ease tightened rare earth export rules, announced in response to Trump tariffs, as automakers face potential supply crunch

India, EU likely to go for comprehensive FTA; GI pacts to follow later

India and the European Union (EU) are likely to agree upon a comprehensive free trade agreement (FTA) instead of an interim deal, an official said on Tuesday. However, the proposed investment treaty and a pact on geographical indications (GI) may not be concluded simultaneously. The official said that the situation remains dynamic in the free trade agreement negotiations. Negotiations for the "comprehensive agreement" between India and the EU are progressing at a rapid pace, and the deal could be concluded before the year-end, the official added. Earlier, there were discussions that an early harvest trade pact may be finalised before going for a comprehensive deal. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on GIs after a gap of over eight years. A GI is primarily an agricultural, natural or manufactured product (handicrafts and industrial goods) originating from a defi

EU votes to curb Chinese medical devices, cites procurement bias

The move comes after the EU, in its investigation, found that Beijing discriminated against foreign firms in procurement of medical devices

Trump ally getting elected in Poland could alter EU and Ukraine policies

Poland has elected Karol Nawrocki, a conservative historian and staunch nationalist, as its next president in a closely watched vote that signals a resurgence of right-wing populism in the heart of Europe. Nawrocki, who is set to take office on Aug 6, is expected to shape the country's domestic and foreign policy in ways that could strain ties with Brussels while aligning the Central European nation of nearly 38 million people more closely with the administration of President Donald Trump in the United States. Here are some key takeaways: Conservative populism on the rise Nawrocki's victory underscores the enduring appeal of nationalist rhetoric among about half of the country along the eastern flank of NATO and the European Union, and its deep social divisions. The 42-year-old historian who had no previous political experience built his campaign on patriotic themes, traditional Catholic values, and a vow to defend Poland's sovereignty against the EU and larger European nations li

EU threatens countermeasures over Trump's steel, aluminium tariffs hike

The European Commission said it "strongly" regrets Trump's plan to increase tariffs, adding it undermines ongoing efforts to reach a negotiated solution

Biz collaborations for a circular economy via FTA to boost EU-India ties

An EU official said circular economy projects under the FTA will unlock value and foster deeper collaboration between India and the EU through sustainable development

European businesses report record-low optimism in China: Survey

EU Chamber of Commerce survey shows just 12 per cent of European firms in China optimistic about profitability, reflecting deepening concerns over trade tensions

EU countries agree to exempt most firms from carbon border tariff

Their approval makes it highly likely that the EU will exempt most of the 200,000 importers who were initially set to face the world's first carbon border tariff, due to take effect next year

EU warns fashion brand Shein over consumer law breach, threatens penalty

Shein faces EU warning over consumer law violations and potential fines, while its return to India sees poor response as app downloads drop sharply. Regulators highlight concerns over unsafe products