EU bans Russian coal in latest sanctions package
The European Commission proposed on April 5 that the EU ban the import of Russian coal as part of its latest sanctions package imposed on Russia over its actions in Ukraine.
EU imports of Russian coal are worth some €4bn ($4.4bn) annually, according to the European Commission, with Germany, Poland and the Netherlands among the biggest buyers. According to the International Energy Agency, Europe as a whole took 57mn metric tons of Russian thermal coal in 2020, while China and South Korea took 31mn mt and 20mn mt respectively.
Details of the ban and how long the phase-out of Russian coal are still under discussion.
The bloc's latest round of sanctions against Russia were announced after reports of alleged war crimes by Russian troops against Ukrainian civilians in the town of Bucha, northwest of Kyiv.
"To take a clear stand is not only crucial for us in Europe, but also for the rest of the world," European Commission president Ursula von der Leyen said in a statement. "A clear stand against Putin's war of choice. A clear stand against the massacre of civilians. And a clear stand against the violation of the fundamental principles of the world order."
The commission also called for a full transaction ban on four more Russian banks including VTB, the country's second-biggest lender, and a ban on Russian vessels accessing EU ports, unless they are carrying certain essentials such as food and energy supplies. It also proposed an export ban on additional high-tech equipment, and an import ban on further Russian commodities including wood, cement, seafood and alcohol. In addition, it wants to see Russian companies barred from taking part in EU public procurement tenders and accessing EU financial support, and is looking to add more individuals to its sanctions blacklist.
The commission also said it would consider an embargo on Russian oil imports as well in the future, but made no mention of natural gas supply. It has proposed a plan to cut Russian gas imports by as much as two thirds within a year, although experts including at the Oxford Institute for Energy Studies have warned that achieving this will be "extremely challenging," even if violations of supply contracts are not considered.