Latest news with #Delphin
Time of India
4 days ago
- Business
- Time of India
EU Envoy to India clarifies sanctions on Russia, says no disruption to global supply, purchases
The European Union's recent sanctions on Russian oil, energy, banking and defence industries are aimed at degrading Moscow's "war economy" while preserving global oil market stability , said Ambassador of the Delegation of the European Union to India Herve Delphin on Saturday. Delphin, in a post on X, outlined the EU's sanctions policy against Russia, which also targeted a refinery in India, emphasising that it does not prevent countries from purchasing Russian oil and thus avoiding disruptions to global supply. Explore courses from Top Institutes in Select a Course Category others Technology Degree CXO Finance Management healthcare Healthcare Others Artificial Intelligence Operations Management Leadership Public Policy MBA Project Management Digital Marketing Data Science Product Management Data Analytics Data Science Design Thinking PGDM MCA Cybersecurity Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details The refinery in India is under Rosneft, a leader in the Russian refining industry, as one of its main shareholders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Does It Cost to Rent a Private Jet - The Prices May Surprise You! Private Jet I Search Ads Learn More Undo As per the EU Envoy, the 18th sanctions package reduces the price cap on Russian oil from USD 60 to USD 47.6 per barrel and seeks to further curb revenues fuelling Russia's military efforts in Ukraine. "On EU sanctions policy on Russian oil: Doesn't prevent anyone from buying oil from Russia --> so as not to disrupt the global oil market supply. Capping on Russian oil export prices --> a way of reducing the amount of revenues that feed/ are channeled into the Russian war economy. 18th package reduces the capping from USD 60 barrel to USD 47.6 barrel --> to reduce even further revenues Russia draws from oil export sales," Delphin stated. Live Events The EU Envoys' clarification on the sanctions followed India's response to the decision, in which New Delhi stated that it does not subscribe to any unilateral sanctions measures while emphasising the importance of avoiding double standards, especially in the domain of energy trade. As per Delphin, the new cap, adjustable based on market reference prices, imposes a discount on Russian oil, benefiting buyers with stronger bargaining positions. The EU has also banned third-country operators from exporting refined oil products made from Russian crude to the European market, closing a loophole that indirectly boosted Russian revenues. The EU Envoy also noted that European citizens support this measure, despite potential higher import costs from alternative suppliers. "The capping can fluctuate according to oil market reference price --> preserves elasticity of oil market for buyers. The capping amounts to imposing a discount on Russian oil --> benefit for the buyer who has a better bargaining position. Ban on export by third country operators to Europe of refined oil products made from Russian crude oil --> closing loophole to avoid European companies buy such products and indirectly add to Russian oil revenues. European citizens want this, even if it may result in higher import cost by buying from other suppliers," the post added. Additionally, the EU has sanctioned 450 shadow fleet oil tanker ships, targeting Russia's attempts to circumvent sanctions through illicit transport networks, while highlighting the impact that the previously imposed sanctions have had in depriving Russia of EUR 450 billion, resources that would have otherwise supported its military efforts in Ukraine. "Sanctions on shadow fleet oil tanker ships (port call and provision of services) --> closing a loophole that Russia uses to circumvent this sanction. 450 sanctioned shadow fleet ships by the EU. EU conducts its sanctions policy diligently & responsibly," he noted in his post. With oil constituting one-third of Russia's revenues and 40 per cent of its public spending allocated to military efforts--equivalent to 6 per cent to 7 per cent of its GDP--the EU has reduced its dependency on Russian oil by 90 per cent, Delphin affirmed, while noting that the EU member states aim to eliminate all Russian energy imports by 2026-2027 to further starve Russia's "war economy". "Sanctions aim at degrading the Russian war economy: 40% of Russian public spending allocated to finance the military effort -- equivalent to 6 to 7% of the Russian GDP. Impact of imposed sanctions --> took away from Russia 450 billion euros which otherwise it would have had its disposal for the war. Oil represents 1/3 of total Russian revenues --> EU has already reduced its own dependency on Russian oil by 90%. EU Member States will cut off all Russian energy import completely by 2026 & 2027 to stop feeding revenues in Russian war economy," the post read. Addressing Russia's aggression in Ukraine, Delphin condemned it as "illegal" and a "direct security threat" to the EU, its citizens, and territory. "Deliberate Russian aggression on Ukraine is illegal. It causes massive suffering by targeting civilians," he stated, reiterating the EU's stance: "Mr Putin must stop this war; stop the carnage and engage in earnest in peace talks."
Time of India
5 days ago
- Business
- Time of India
India A Safe Investment In A World Where Trade and Tech Are Being Weaponised: EU Envoy
In a world where trade, technology, and migration are increasingly weaponised, the European Union has declared India a "safe investment." EU Ambassador Hervé Delphin hailed the partnership as historically strong, citing trust, shared democratic values, and rising strategic alignment. At a key event, Delphin emphasized the urgency to conclude the EU-India Free Trade Agreement (FTA) by end-2025, calling it a turbocharger for future cooperation. From combating economic coercion to reshaping global diplomacy, both blocs now stand together in a volatile world. #india #europeanunion #freetradeagreement #eufta #indiaeutradedeal #euindia #safeinvestment #fta #indiaeurope #geopolitics #ursulavonderleyen #weaponisedworld #hervedelphin #toi #toibharat #bharat #trending #breakingnews #indianews Read More
India Today
5 days ago
- Business
- India Today
EU-India ties seen as safe investment amid weaponisation of trade, tech: EU envoy
The European Union-India relationship is on a firm upward trajectory and has emerged as a "safe investment" at a time when global dynamics around trade, technology, migration, and information are increasingly being "weaponised," EU Ambassador to India Herve Delphin said on at an event hosted by the Ananta Centre, Delphin described the recent visit of European Commission President Ursula von der Leyen and the EU College of Commissioners to India as a "historic" and symbolic show of "confidence and trust" in the EU-India free trade agreement (FTA), which both sides aim to conclude by the end of 2025, could serve as a 'turbocharger' for economic cooperation, the envoy said. While acknowledging the complexities involved, Delphin stated, "There is a clear statement on both sides that not a single issue will block the whole lot. We will go ahead," He emphasised that both the EU and India are committed to a rules-based global order and share growing intersections of economic, political, and security interests. 'This partnership has grown organically,' he said, 'and when you see how trade, technology, migration, and energy are being weaponised, we represent for each other a safe investment.'Delphin also framed the EU as a 'collective force' navigating a turbulent global environment. He noted that major powers like Russia, China, and the U.S. pay close attention to the EU, often critically, which, he said, 'probably means that we matter.'Describing the EU's evolving posture, Delphin referred to what he called the "rearmament" of the bloc—military, economic, and societal. 'We have fundamentally changed our DNA,' he said. 'We remain an open and democratic society, but we don't want that openness turned into a vulnerability.'Referring to recent geopolitical events including Brexit and shifting US-EU relations under former President Trump, Delphin said the EU has managed to navigate a "series of crises" and is now 'readying itself for the new normal.'On the global stage, he noted that the EU and India are increasingly acting as 'bridgeheads' for broad coalitions, advocating democratic values, human-centric development, and resilience in the face of coercive tactics.'We both reject wars of aggression, global terrorism, and economic coercion,' Delphin said. 'As large democracies, we attach central importance to human values.'He also cited von der Leyen's words during her India visit, calling the EU-India relationship a 'consequential partnership' not only for both parties but for the wider world. 'We both stand to benefit,' Delphin said, 'and perhaps this is the time to truly deliver.'- Ends(With inputs from PTI)Must Watch
Time of India
09-07-2025
- Business
- Time of India
India leads EU's Erasmus+ scholarship awards, 101 students, including 50 women, to pursue master's in Europe
NEW DELHI: For the academic year starting 2025, 101 Indian students, including 50 women, have been awarded the prestigious Erasmus+ scholarships for a two-year master's programme in Europe, officials said. The Erasmus+ programme, launched in 1987, stands for European Region Action Scheme for the Mobility of University Students. It is the European Union's (EU's) flagship initiative for international mobility and academic exchange. The Delegation of the EU to India in a statement on Monday said "101 Indian students, including 50 women, have been awarded the prestigious Erasmus+ scholarships for two-year master's programme in Europe for the academic year starting 2025". With this, India continues to be the largest recipient of the scholarship overall (since 2014) and ranks among the top three this year, further highlighting its strong and expanding academic partnership with the EU, it said. Erasmus+ students typically study in at least two European universities and receive a joint, double or multiple degree. The scholarship covers tuition, travel, and living expenses, providing the recipients with a unique opportunity to enhance their academic and professional pursuits, the statement said. "This year's cohort continues the strong tradition of Indian participation, particularly in fields that reflect shared EU-India priorities such as sustainability, innovation, and inclusive development," it said. This year's recipients represent 20 Indian states across India and will pursue a wide range of areas of focus, including sustainable urban development, artificial intelligence, migration and public policy, intellectual property law, food security, engineering, sustainable drug discovery, safe and reliable nuclear applications and more, the Delegation of the EU to India said in the statement. To mark this achievement, the Delegation of the EU to India hosted a pre-departure ceremony in New Delhi, bringing together the selected scholars, EU Member State representatives, alumni and key stakeholders. These scholarship recipients will soon depart for Europe to pursue their postgraduate degrees across multiple countries and disciplines. Congratulating the students, EU Ambassador to India, Herve Delphin, said, "Erasmus+ is more than a scholarship, it's a passport for personal and professional growth and a window of opportunities in and with Europe." For over 6,000 Indian students and scholars, it has opened doors to Europe's top universities and its incredibly diverse cultures, he said. Delphin said the Indian students' strong performance shows how strong and vibrant the people-to-people ties have become between the EU countries and India and they are only getting stronger. "Over 90,000 Indian students are studying in Europe, a clear sign of the trust and enthusiasm for what Europe offers. These students are choosing Europe for its quality, diversity, and affordability and this shows why Europe has rightfully earned its place as one of the top global destinations for higher education," he added. As Erasmus+ scholars, these individuals will not only enrich their own lives but also "become bridges between the EU and India", driving positive change and "deepening our bilateral relationship", the EU envoy said. "Over the next two years, Indian students will have the opportunity to study in more than 19 EU countries, including, France (24), Spain (12), Belgium (8), Portugal (8), Germany (7), Italy (5), Poland (4), Czech Republic (4), Austria (3), Hungary (3), Estonia (3), Netherlands (2), Croatia (2), Greece (2), Denmark (1), Finland (1), Norway (1), Ireland (1) and Latvia (1)," the statement said. Additionally, some students will pursue studies at affiliated universities across Europe and in non-European countries, it said. India continues to be the largest beneficiary of the Erasmus+ programme, with over 2,200 students having received the prestigious Erasmus Mundus Scholarship since its inception in 2004. Over 6,000 Erasmus+ short and long-term Erasmus+ scholarships have been awarded to Indian students since the programme opened to international students, the statement said. In recent years, women's participation from India has shown a "steady and encouraging rise", with near-equal representation among selected candidates becoming a consistent trend, it added. Europe is home to over 4,000 higher education institutions, ranging from leading research establishments to smaller and teaching-focused colleges. With over 5,000 institutions, 17.5 million tertiary education students, 1.35 million educators and 1.17 million researchers, Europe is a thriving hub for higher education and cutting-edge research, the statement said. "Now in its most ambitious phase (2021-2027), Erasmus+ is the world's largest mobility and academic exchange programme supporting education, training, youth, and sport. With a budget of Euro 26.2 billion (INR 2,09,694 crore), it offers opportunities for students, educators, researchers, and institutions worldwide to study, teach, train, and collaborate across borders," it said. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Time of India
08-07-2025
- Business
- Time of India
101 Indian students get Erasmus+ scholarships for higher education in Europe
A total of 101 Indian students, including 50 women, have received the Erasmus+ scholarship for master's programs in Europe starting in 2025. India remains a top recipient of the scholarship, which supports academic mobility and covers tuition, travel, and living costs. The program reflects EU-India priorities, with students studying in 19 EU countries. Tired of too many ads? Remove Ads Also Read: 358 international students regain SEVIS status in a significant settlement with DHS Tired of too many ads? Remove Ads A total of 101 India n students, including 50 women, have been awarded the Erasmus+ scholarship for a two-year master's programme in Europe starting in 2025, according to the Delegation of the European Union (EU) to India. With this, India remains the largest recipient of the Erasmus+ scholarship since 2014 and ranks among the top three this Erasmus+ programme, launched in 1987, is the EU's flagship initiative supporting international academic mobility. The scholarship allows students to study at two or more European universities and earn joint, double, or multiple degrees. It covers tuition fees, travel costs, and living year's Indian cohort reflects shared priorities between the EU and India, including focus areas such as sustainability, artificial intelligence, public policy, intellectual property law, engineering, food security, and safe nuclear applications. The selected students represent 20 states from across mark the achievement, the EU Delegation hosted a pre-departure ceremony in New Delhi, where scholars interacted with alumni, representatives from EU member states, and academic the awardees, EU Ambassador to India, Herve Delphin, said, 'Erasmus+ is more than a scholarship, it's a passport for personal and professional growth and a window of opportunities in and with Europe.'He added that over 90,000 Indian students are currently studying in Europe. 'These students are choosing Europe for its quality, diversity, and affordability,' Delphin 2025 batch of Indian students will study across 19 EU countries. This includes France (24 scholars), Spain (12), Belgium (8), Portugal (8), Germany (7), Italy (5), Poland (4), Czech Republic (4), Austria (3), Hungary (3), Estonia (3), Netherlands (2), Croatia (2), Greece (2), and one each in Denmark, Finland, Norway, Ireland, and Latvia. Some students will also attend affiliated universities in other European and non-European Erasmus+ programme has supported over 2,200 Indian students through the Erasmus Mundus Scholarship since 2004. Including both short- and long-term awards, over 6,000 scholarships have been granted to Indian students under the Erasmus+ noted a steady rise in women's participation from India, with near-equal representation becoming a consistent feature in recent hosts more than 4,000 higher education institutions and has over 17.5 million tertiary students, 1.35 million educators, and 1.17 million current phase of Erasmus+ (2021–2027) is the most ambitious yet, with a total budget of €26.2 billion (₹2.09 lakh crore). It supports global opportunities in education, research, youth, and sport for students, educators, and institutions.(With inputs from PTI)
