On Tuesday, the European Commission proposed a phase-out ban on Russian coal imports worth 4 billion euros ($ 4.3 billion) a year as part of the Fifth Amendment sanctions designed to further reduce the war front of Russian President Vladimir Putin. Other projects are targeting Russian technology and manufacturing imports, as well as 10 billion euros ($ 10.9 billion).
Europe has imposed Punishment of sanctions on the Russian economy In late February, Putin’s tanks rolled into Ukraine, but stopped targeting Russia’s energy sector – until now. Pictures of unarmed civilians being built and shot down on the roads of Pucha, which until recently had been under Russian occupation, have transformed leaders into a dilemma.
Further details on the new round of sanctions, including the deadline for the ban on coal, are expected when EU ambassadors meet on Wednesday. These measures still require the approval of 27 member states.
Allowing coal will bite some European countries, but it is one of the easiest energy sources – most of the world is already doing just that. Tricky question: What happens next?
How much Russian coal goes to Europe? Russia was the world’s third-largest coal exporter by 2020, after Europe and Indonesia, Europe’s largest consumer, according to the International Energy Agency.
The continent received 57 million tonnes of Russian hard coal that year, compared to 31 million tonnes for China, according to IEA data. According to Eurostat, it accounted for more than half of Europe’s coal that year.
But the EU was already moving away from the world’s dirty fossil fuels.
The amount of electricity generated by coal has declined steadily across the block in recent years, which has dropped by 29% between 2017 and 2019, according to Ember Analysis, an energy think tank.
And the IEA expects European demand for coal to continue its steady decline, despite a brief rise last year as gas prices hit record highs. Even before Russia’s invasion of Ukraine, total imports were expected to fall by 6% in 2024.
Other countries may come forward to buy Russian coal. The IEA expects India’s coal imports to grow by 4% by 2024 and more than 6% in Southeast Asia. Russia has already benefited from a surge in exports to China following Xi Jinping Prevents Australian importsThe company said in a December report.