In 2022, the EU imported Euro 482 billion worth of high-tech products from extra-EU countries (+22 per cent compared with 2021), according to an estimate published by Eurostat, the statistical office of the European Union. Exports to these countries reached Euro 446 billion (+16 per cent compared with 2021). In 2022, over half of the EU’s high-tech […]
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EU agrees to cap price of Russian seaborne oil at USD60
The European Union has reached a deal for a USD 60 per barrel price cap on Russian seaborne oil, with an aim to diminish Russia’s revenues. Taking to Twitter, the president of the European Commission, Ursula von der Leyen said, “The EU agreement on an oil price cap, coordinated with […]
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EU expresses concern over violent protests in Iraq
Expressing concern over the ongoing protests in Iraq after the supporters of Muqtada al-Sadr and the security forces clashed as the Shi’ite cleric announced quitting politics, the European Union urged all the parties to exercise restraint “to prevent further violence”. In a statement, the EU urged all parties to exercise […]
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EU states using strategies to confront price hike at gasoline pump: Report
As the crisis in Ukraine sends global fuel prices spiraling higher, governments in European Union (EU) member states are scrambling for ways to reduce the economic impact their citizens are feeling at the gasoline pumps. Prices for gasoline surpassed 2 euros (2.1 U.S. dollars) per litre in most of the 19 eurozone countries in recent days, […]
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EU signs energy deal with Egypt and Israel to wean itself off Russian gas
As Europe scrambles to wean itself off Russian oil and gas and tries to confront Russia for its use of energy to blackmail European countries, the EU signed in Cairo last Wednesday a Memorandum of Understanding (MoU) with Egypt and Israel, aimed at using the energy potential of Eastern Mediterranean […]
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Russian lawmaker foresees benefit from EU oil embargo
Amid surging energy prices, Russian lower house chairman Vyacheslav Volodin said on Saturday said Russia’s economy may benefit from the EU oil embargo imposed as part of the sixth sanctions package, while the EU member countries are set to overpay about USD 268 billion annually. “Russia’s possible losses caused by […]
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US, EU to jointly develop response to food challenges amid conflict in Ukraine: Official
The United States and the European Union will establish a policy dialogue within the Trade and Technology Council (TTC) to develop responses to potential global food challenges amid the ongoing conflict in Ukraine, a senior US administration official told reporters. The US-EU TTC, established last summer by the United States, European Commission, and European Council to promote […]
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EU pledges nearly USD 1.6bn in humanitarian aid for Syrian refugees
The European Union has pledged to increase humanitarian assistance to Syrians up to 1.5 billion euros ($1.58 billion) for 2022 and to allocate an equal amount following year, EU foreign policy chief Josep Borrell said on Tuesday. On Monday, the sixth European Union’s Conference on Supporting the Future of Syria and the Region kicked off in Brussels, […]
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EU, US voice concerns over imposition of emergency in Sri Lanka
After the Sri Lankan President Gotabaya Rajapaksa declared an island-wide state of emergency, the envoys of the European Union, the United States, and several other western countries have expressed their concern over the move by the government. These comments from representatives came after President Rajapaksa declared a state of emergency […]
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EU unveils regional energy taskforce in Bulgaria after Russian gas suspension
The European Commission announced on Thursday the creation of a regional taskforce in Sofia that will shop around for energy supplies ahead of winter after Russia stopped pumping gas to Bulgaria and Poland. “The European Commission and Bulgaria agreed to set up in Sofia a first regional taskforce, as part […]
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EU countries now looking at Turkmenistan for gas supplies, amid Russia-Ukraine crisis
The Russia-Ukraine war has brought a new evolution in the geopolitics of energy. In the aftermath of the Russia-Ukraine conflict, the European Union and other western countries imposed sanctions on Russia after which, the countries are looking towards Central Asian countries as an alternative for the supply of gas. The Repower EU […]
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India, EU to launch Trade and Technology Council to deepen strategic cooperation
President of the European Commission Ursula von der Leyen and Prime Minister Narendra Modi held bilateral talks in New Delhi on Monday and agreed to launch the EU-India Trade and Technology Council while also committing to strengthen the strategic partnership. The European Commission, in a press statement, said this strategic […]
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EU chief, S Jaishankar discuss India-EU partnership, Ukraine conflict
European Commission President Ursula von der Leyen met External Affairs Minister (EAM) S Jaishankar on Monday and discussed ways to take the India-EU partnership forward and exchanged views on the impact of the Ukraine conflict. “Pleased to call on President of European Commission Ursula von der Leyen. Discussed taking forward […]
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EU agrees on new sanctions against Russia, including coal import embargo
The European Union has agreed on a new sanctions package, including an embargo on Russian coal imports for invading Ukraine. The sanctions will be formally implemented on Friday after the bloc approved the measures, reported DW News. The current French presidency of the European Council said late on Thursday that […]
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EU to discuss another package of sanctions against Russia on April 6: Reports
The European Union is mulling additional sanctions against Russia and relevant proposals will be discussed on Wednesday, The Financial Times reported. “Further EU sanctions & support are on their way,” President of the European Council Charles Michel said on Twitter on Sunday, drawing attention to the events in Bucha. The […]