EU

India and the European Union (EU) are intensifying efforts to finalize a Free Trade Agreement (FTA) by the end of 2025. Commerce Secretary Rajesh Agrawal is scheduled to visit Brussels this week to meet European Commission Director General for Trade Sabine Weyand. This visit aims to address remaining issues and expedite the negotiation process. The 14th round of FTA talks commenced on October 6, 2025, focusing on key areas such as market access, intellectual property rights, and sustainability. Both parties are optimistic about concluding the agreement within the set timeframe.

Nayara Energy, India’s second-largest private oil refiner, is grappling with the fallout of European Union sanctions linked to Russian ownership. With Rosneft holding nearly 49% of the company, sanctions have restricted crude procurement, disrupted equipment supplies, and curtailed international trade. In response, Nayara has scaled down operations at its Vadinar refinery, redirected fuel sales to domestic buyers such as Hindustan Petroleum Corporation Ltd. (HPCL), and sought government assistance for critical repair components.