Brussels proposes an embargo on Russian coal in fifth package

The European Commission proposed this Tuesday apply an embargo on coal imports into the European Union from Russia as part of the fifth package of sanctions in response to the Russian military invasion of Ukraine and after the massacre in the city of Bucha, outside Kiev.

This has been confirmed by the Economic Vice President of the Community Executive, Valdis Dombrovskisat the press conference after the meeting of the EU economy and finance ministers (Ecofin), in which the Twenty-seven have assessed new economic measures in response to the bloc’s aggression by Russian troops in towns near Kiev.

“It’s not just about energy, it’s a broad package of sanctions that covers different sectors, more individual sanctions, more trade sanctions, transport sanctions, but also energy sanctions, mainly coal,” he confirmed.

At the same press conference, the French finance minister said, Bruno LeMaireexplained that the “will” of member states to gradually include the energy sector in the European sanctions against the Kremlin with a “to be determined timetable”.

Dombrovskis, who declined to provide details about the new sanctions package as it is still being “completed”, has stated that Brussels’ intention is that reprisals continue to “bite” the Kremlin, for which he has also called on countries Europeans to coordinate with other global partners to ensure that those already hired are honored and Moscow does not bypass them.

In any case, the former Latvian prime minister has emphasized that 62% of Russia’s exports to the European Union (EU) in 2021 were hydrocarbons, so “you have to look there” if the bloc wants to “do damage” to the Russian economy.