Tensions are rising on the global trade front as India and the European Union prepare to sign what leaders are calling a “historic” free trade agreement. The deal is expected to lower tariffs, expand market access, and deepen cooperation across sectors ranging from automobiles and wine to pharmaceuticals, electronics, and textiles. With the EU’s 27-member bloc representing a $23 trillion economy, this could become India’s largest trade pact yet. However, the development has drawn sharp criticism from the United States. U.S. Treasury Secretary Scott Bessent accused European nations of hypocrisy, claiming they are indirectly financing Russia’s war by purchasing refined fuel products originating from Russian oil processed in India. His remarks add fresh strain to transatlantic ties already tested by the Russia-Ukraine conflict.