EU Ban on Russian Coal Delayed to August

Political pressure has prompted the EU to delay their ban on Russian coal.

Political pressure has prompted the EU to delay their ban on Russian coal.

Earlier this week, the European Commission proposed implementing a full ban on all Russian coal imports to the member countries of the European Union. This would be part of the ongoing effort to punish and pressure Russia for their ongoing invasion of Ukraine, bolstered by the recent discovery of potential war crimes committed by Russian troops in Bucha. The plan was to gradually phase out the use of Russian coal starting in May and concluding in July, but due to political pressure, the final phase of the ban has been pushed back.

“There seems to have been an effective German lobby to extend the phase out period for existing coal contracts to four months,” an EU official told CNBC.

Germany, a country with one of the highest energy dependencies on Russia, has expressed public concerns with the coal ban, arguing that doing so could damage their own economy much more than it damages Russia’s. Delaying the full phase-out is necessary to give the region more time to secure alternative sources of commercial fuel.

In addition to coal, the European Commission is also weighing a ban on Russian oil.

“We are working on additional sanctions, including on oil imports, and we are reflecting on some of the ideas presented by the member states, such as taxes or specific payment channels such as an escrow account,” said European Commission President Ursula von der Leyen.

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