Page 8 - European Union

EU to expand carbon levy on high-emission imports, tighten loopholes

The EU also wants to clamp down on foreign companies if there is evidence they are under-reporting their emissions to dodge the levy

EU moves to ease 2035 ban on internal combustion cars amid auto sector woes

European officials on Tuesday moved to ease their ban on sales of cars with internal combustion engines by 2035, responding to pressure from governments and automakers who argued that the industry needed more flexibility in finding ways to reduce emissions of carbon dioxide and help achieve EU climate goals. The proposal from the EU's executive commission would change provisions of 2023 legislation requiring average emissions in new cars to equal zero, or a 100% reduction from 2021 levels. The new proposal would require a 90% emissions reduction. That means in practical terms that most cars would be battery-only but would leave room for some cars with internal combustion engines. Automakers would have to compensate for the added emissions by using European steel produced by methods that emit less carbon, and through use of climate neutral e-fuels made from renewable electricity and captured carbon dioxide and biofuels made from plants. EU officials say changing the limit will not .

Indian cement firms most exposed to CBAM risk: World Economic Forum

The study, which examines corporate readiness in Brazil, China, India and South Africa for CBAM, finds no evidence so far of broad competitiveness losses for exporters from these economies

EU's decision to freeze assets undermines Ukraine peace efforts: Russia

Russia on Saturday said the EU's decision to indefinitely freeze Russian sovereign assets is a targeted attack on peace efforts to resolve the Ukraine conflict, adding that Moscow would shortly take retaliatory steps. On Friday, the European Union Council decided to "prohibit, on a temporary basis, any transfers of Central Bank of Russia assets immobilised in the EU back to Russia." In a statement, it said the decision was taken as a "matter of urgency to limit damage to the Union's economy." Russian Foreign Ministry Spokeswoman Maria Zakharova in a press statement said that the timing of the EU decision shows that Brussels is seeking to undermine efforts to settle the Ukraine conflict, by delivering a direct blow to the peace initiatives of US President Donald Trump. Brussels is carefully concealing the fact that it will be citizens of EU countries who will ultimately pay for these political ambitions. Our retaliatory actions will follow shortly, Zakharova said. Responding to var

EU to indefinitely freeze Russian assets, removing obstacle to Ukraine loan

The loan would be paid back by Ukraine only when Russia pays Kyiv war damages, making the loan effectively a grant that advances future Russian reparations payments

EU nations open door to faster migrant removals and tougher rights limits

European governments open the door to revising long-standing protections for migrants as political pressure mounts, despite a fall in irregular border crossings this year

India, EU aim to seal trade pact at the earliest: Commerce Secretary

Commerce and industry minister Piyush Goyal held discussions with EU commissioner for trade and economic security, during December 8-9 to provide strategic guidance to the FTA negotiating teams

Elon Musk calls for abolishing the EU after the bloc fined X for $140 mn

On December 5, the European Union issued a ruling against X, following a two-year investigation under the Digital Services Act (DSA), adopted in 2022 to regulate online platforms

EU trade commissioner Sefcovic in Delhi for push on India-EU trade talks

EU trade commissioner Maros Sefcovic is in New Delhi for two days to advance trade and investment negotiations, as India and the EU work to narrow gaps on key issues

Jaishankar meets EU Trade Commissioner as India-EU FTA talks set to resume

External Affairs Minister S Jaishankar on Monday held talks with European Trade and Economic Security Commissioner Maros Sefcovic in New Delhi ahead of a new round of India-EU trade negotiations.In a post on X, Jaishankar said, "A pleasure to meet European Trade & Economic Security Commissioner @MarosSefcovic in New Delhi today. Confident that the Commissioner and his team will have productive discussions in India."Officials earlier confirmed to ANI that negotiating teams from India and the European Union will hold a two-day round of discussions on the proposed Free Trade Agreement (FTA), beginning Monday and continuing through Tuesday.The meeting marks another step in efforts to deepen India-EU economic ties. FTA negotiations between the two sides were revived in June 2022 after a long pause.EU Ambassador to India Herve Delphin while addressing India's World Annual Conclave 2025 last week, said the current phase of discussions represents a complete shift in approach, describing

Macron warns EU may impose tariffs as China's trade surplus widens

Macron said the US approach to China was 'inappropriate' and had worsened Europe's position by diverting Chinese goods toward the EU market

EU fines Musk's X €120 mn as clash with US over free speech rules deepens

In doling out the first ever penalty under the Digital Services Act, the European Commission concluded that X's paid-for blue tick symbol misled users

Hungary's Viktor Orbn to meet Russia's Putin in Moscow for energy talks

Hungarian Prime Minister Viktor Orbn is visiting Moscow for energy talks with Russian President Vladimir Putin, a rare step from a European leader while Russia's war grinds on in Ukraine. The trip to Moscow is the second since last year for Orbn, who is widely considered Putin's closest partner among all European Union leaders. In comments to state media before departing for Moscow early Friday, Orbn said the focus of his talks with Putin would be Hungary's continued access to "cheap Russian oil and gas, resources that have come under sanctions by the US government. Hungary remains among the only EU countries to continue importing large quantities of Russian fossil fuels, and has strongly opposed efforts by the bloc to wean its member nations off Russian energy supplies. Earlier this month, Orbn travelled to Washington for a meeting with US President Donald Trump where he succeeded in securing an exemption to sanctions the Trump administration placed on Russian energy companies Luko

India negotiating FTAs with US, EU and 50 partners to boost trade: Goyal

India is at present negotiating free trade agreements with a number of trading partners, including the US and European Union, Commerce and Industry Minister Piyush Goyal said on Friday. India is working with its 'trusted' trading partners through these agreements to boost economic ties, he said. "We have all seen trade being weaponised. We have all seen the importance of having trusted partners around the world," he said, adding that at this moment, India is in talks with individual countries and groups of nations totalling about 50. The remarks come at a time when a steep hike in tariffs by the US has disrupted global trade. The Donald Trump administration has imposed a 50 per cent import duty on Indian goods entering American markets since August 27. The minister informed that GCC (Gulf Cooperation Council) too is interested in trade pact talks. GCC is a union of six countries in the Gulf region Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. New Delhi has already implemen

Dr Reddy's gets EU nod for drug used to treat bone-weakening conditions

The European Commission's approval allows Dr Reddy's to market AVT03 across the European Union and European Economic Area for treating conditions that cause bone weakening

Europe's growth model geared towards a world that is disappearing: Lagarde

Lagarde said that Europe has become more vulnerable due to its dependency on third countries for its security and the supply of critical raw materials

'Trying to help an alcoholic': Hungary slams EU plan for Ukraine aid

Hungarian PM Viktor Orban sharply criticised EU chief Ursula von der Leyen for asking member states to send more financial aid to Ukraine, as Russia steps up attacks in the war's fourth year

Google offers ad tech changes to settle €3 bn EU antitrust order

Despite the offer, the company said it still disagrees with the European Commission's September decision and plans to appeal

EU carbon levy may tilt steel trade away from India: Kuehne + Nagel's exec

In worst-case scenario, European importers could shift towards China, says Kuehne + Nagel's exec

India seeks clarity from EU on carbon tax, steel rules during FTA talks

During week-long India-EU FTA negotiations, New Delhi pressed for predictable implementation of the EU's carbon tax and proposed steel regulation to ensure balanced trade terms