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India Launches Trade Talks with Eurasian Union Amid US Tensions

8/22/2025

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Summary

Story summary

India began trade negotiations with the Eurasian Economic Union (EAEU) following increased US tensions and tariffs.
A Free Trade Agreement (FTA) Terms of Reference was signed in Moscow to boost trade, especially in hydrocarbons.
In 2024, India's trade with the EAEU reached $69 billion, with a notable trade deficit with Russia.
External Affairs Minister S. Jaishankar highlighted the need to address tariff barriers and trade imbalances.
India aims to diversify exports to Russia due to potential impacts from rising US tariffs on $55 billion in annual exports.

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Story summary

India began trade negotiations with the Eurasian Economic Union (EAEU) following increased US tensions and tariffs.
A Free Trade Agreement (FTA) Terms of Reference was signed in Moscow to boost trade, especially in hydrocarbons.
In 2024, India's trade with the EAEU reached $69 billion, with a notable trade deficit with Russia.
External Affairs Minister S. Jaishankar highlighted the need to address tariff barriers and trade imbalances.
India aims to diversify exports to Russia due to potential impacts from rising US tariffs on $55 billion in annual exports.