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Since mid-November 2023, the Iran-backed Houthi militia, which controls large parts of Yemen, has attacked numerous Western commercial ships near the Bab el-Mandeb Strait in the Red Sea. In response, major shipping companies have temporarily suspended Suez transits and diverted their trade. This diversion coincides with decreasing freight in another maritime chokepoint, the Panama Canal, provoked by lowered water levels. Rounding South Africa via the Cape of Good Hope is the shortest alternative ...

In absolute figures, Cyprus's amended national recovery and resilience plan (NRRP) has increased by €20 million to a total of €1.22 billion. Cyprus decided to use its allocation under the Recovery and Resilience Facility (RRF) predominantly in grants (€1 005 million), with €200.3 million in loans. In September 2023, Cyprus submitted a request to amend its NRRP, to which it added a new REPowerEU chapter, with an additional REPowerEU grant allocation of €52.5 million. It also requested to transfer ...

On 9 January 2024, the Norwegian Parliament (Stortinget) endorsed the government's proposal to allow exploration for the possible extraction of seabed minerals on the Norwegian continental shelf. Extraction licences for businesses will require further parliamentary approval. The aim is to mine important critical raw materials that are increasingly needed for the green and digital transitions, and the defence and aerospace sector. However, these developments have raised concerns in the country and ...

India was among the first countries to establish diplomatic relations with the European Economic Community in 1962. Following the EU-India 1994 Cooperation Agreement, the parties built a multi-tiered institutional architecture of cooperation, and eventually upgraded their relationship to a 'Strategic Partnership' in 2004. During the same period, trade between the two partners grew significantly, reaching €115.4 billion in 2022. As a result, the parties began negotiations on a broad-based bilateral ...

The EU-India Trade and Technology Council was announced by the European Commission in April 2022, and launched in February 2023. It is the EU's second such endeavour after the one with the United States, and its aims are broadly similar, i.e. to increase bilateral cooperation, to boost bilateral trade and investment (in the same context as the free trade agreement under negotiation between the two parties), and to capitalise on both parties' strengths to ensure their technological and industrial ...

On 30 June 2022, Commission President Ursula von der Leyen and then New Zealand Prime Minister Jacinda Ardern announced the conclusion of negotiations on a comprehensive EU-New Zealand free trade agreement (FTA). The agreement was signed on 9 July 2023. Although the 2014-2019 Commission had initially aimed to finalise negotiations before the end of its mandate, both sides raised several sensitive issues during negotiations, not least because New Zealand is a major and competitive producer and exporter ...

En 2022, l’Union et la Nouvelle-Zélande ont conclu des négociations sur un accord de libre-échange, qui représente un élément important de la stratégie de l’Union visant à accroître son rôle et sa place dans la région indo-pacifique. La commission du commerce international (INTA) du Parlement a donné son feu vert à la conclusion de l’accord le 24 octobre. Le Parlement doit se prononcer sur l’approbation de l’accord lors de la session plénière de novembre II.

On 30 June 2022, Commission President Ursula von der Leyen and then New Zealand Prime Minister Jacinda Ardern announced the conclusion of negotiations on a comprehensive EU-New Zealand free trade agreement (FTA). The agreement was signed on 9 July 2023. Although the 2014-2019 Commission had initially aimed to finalise negotiations before the end of its mandate, both sides raised several sensitive issues during negotiations, not least because New Zealand is a major and competitive producer and exporter ...

Outraged by Russia's illegal and unprovoked full-scale invasion of Ukraine in February 2022, the European Union swiftly adopted unprecedentedly tough sanctions, in close cooperation with partners including the United States, the United Kingdom, Canada, Australia and Japan. The rapid succession of 11 packages of EU sanctions adopted since then, in what has already been labelled a 'sanctions revolution', have resulted in an unparalleled set of measures targeting key sectors of the Russian economy and ...

EU energy partnerships: Norway

Briefing 27-09-2023

Since Russia invaded Ukraine, EU Member States have made serious efforts to reduce their dependence on Russian energy imports. To broaden the range of energy suppliers, the European Commission and the Member States' national governments have signed new agreements with non-EU countries and strengthened their pledges with existing partners. Norway is the world's fifth largest oil and third largest natural gas exporter, accounting for 2 % of global crude oil production and 3 % of global natural gas ...