EU imposes new sanctions on Russia: what the European ban on coal imports would mean

The European Union has agreed to a new sanctions package, including an embargo on imports of Russian coal for invading Ukraine, according to the news agency. ANI report. The sanctions will be officially implemented on Friday after the bloc approves the measures, reported DW News.

It comes at a time when France’s current European Council presidency said on Thursday evening that the bloc’s latest sanctions package had been given the political green light. The main preparatory body made up of representatives from each EU member, known as Coreper, approved what would be the fifth package of EU sanctions, including a halt to coal imports from Russia, reported DW News.

The package will be implemented once it is published in the official EU journal, which is expected to take place on Friday. Along with an EU embargo on imports of Russian coal, the sanctions include a ban on imports of Russian wood and vodka.

Once implemented, it would be the bloc’s first set of sanctions aimed primarily at Moscow’s energy industry. The measures fall far short of a total ban on Russian fossil fuel imports, but EU officials have said that could follow if Moscow keeps up its onslaught, DW News reported.

However, German Chancellor Olaf Scholz said it would take a full 120 days to implement a coal ban, the publication reported. Scholz said the country should use the entire transition period to implement a ban on Russian coal.

EU leaders agreed that the fifth sanctions package should include a coal embargo and that there would be a 120-day window during which member states should find alternative sources.

How dependent is the EU on Russian oil?

Russia is Europe’s biggest oil supplier, supplying 26% of EU oil imports in 2020, according to Eurostat data. Other suppliers are Norway, Kazakhstan, the United States, Saudi Arabia and Nigeria.

The Netherlands, Germany and Poland are the biggest European buyers of Russian barrels, according to Eurostat. Poland, for example, buys more than half of its oil imports from Russia. Overall, 97% of the crude that Europe uses comes from abroad. Russian diesel also covers about 10% of European demand.

Petroleum and petroleum products provided around a third of the EU’s gross available energy in 2020 – a measure of overall energy supply which includes electricity as well as transport and chemical production, which is dependent on oil .

(With agency contributions)

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About Dwayne Wakefield

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