The EU will propose an embargo on coal imports from Russia

LAST UPDATE 14:15

Coal exports to Russia are also being targeted by new European sanctions, gradually touching on the sensitive issue of Moscow’s energy supplies, according to officials who spoke on condition of anonymity to CNBC.

In particular, imposing sanctions on Russian energy imports has been a difficult issue for the EU given the dependence of several Union countries, but the aftermath of the horrors in the Ukrainian city of Butsa is pushing the Commission to include coal in the new package it is preparing.

It is noted that according to Eurostat data, the EU imported in 2020 19.3% of the coal consumed by Russia, 36.5% of its oil and 41.1% of its natural gas.

In any case, the new sanctions will be discussed by the European ambassadors tomorrow Wednesday and the final approval of the package will take place only after the end of the talks, the sources point out to CNBC.

According to Reuters, however, a German government agency told the agency that Berlin would support a European embargo on Russian coal, if it was gradual.

“Germany would support a gradual implementation of a European carbon embargo,” said the unnamed official.

Earlier in the day, the US network also quoted two officials familiar with the talks as saying the new package would focus on restricting the hiring of planes and imports and exports of goods such as jet fuel, steel products and luxury goods.

One of the two pointed out, however, that “obviously, there is a big missing point”, referring to the absence of measures against the Russian energy sector.

The imposition of an embargo on Russian gas, oil or even coal has been the subject of much debate in the EU since Russia invaded Ukraine on February 24. While some countries are in favor of an embargo on Russian energy, other EU countries say they are too dependent on Russian supplies and will end up hurting their own economies more than Moscow.

For his part, however, French President Macron said Monday that the EU should agree to cut supplies of Russian oil and coal after the atrocities in the city of Butsa, while Poland announced last month that it was suspending imports of Russian coal.

However, a group of EU countries are still opposed to energy sanctions.

As German Finance Minister Christian Lindner put it yesterday, “we want to become less dependent on Russian energy imports to the European Union in the short term and Germany will support further sanctions on Russia (…) but at the moment it is not possible.” to cut off gas supplies. ”