From this Thursday, EU countries will no longer be allowed to import coal from Russia. The transitional period for the coal embargo against Russia, which EU countries adopted in April as part of the fifth sanctions package, ends at midnight. At the time, the countries agreed on a transition period of 120 days, so that the industry could adapt to the import ban.
The purpose of the import ban is to further weaken the Russian economy against the background of the war in Ukraine. According to the EU commission in April, the coal embargo could mean a minus of about eight billion euros per year for Russia.
Import stop for oil follows
With the coal embargo, the EU has sanctioned energy supplies from Russia for the first time. In a later package of sanctions, EU countries also agreed to largely ban Russian oil supplies to further increase pressure on Moscow. However, this is not expected to happen until the end of the year, with the exception of some particularly dependent countries such as Hungary, which are still allowed to receive pipelines from Russia. However, on Tuesday, Russian pipeline monopolist Transneft announced that oil deliveries to Hungary via the Druzhba pipeline had been halted.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
