The coal embargo is part of the fifth package of EU sanctions against Russia, launched on Tuesday. From next week, EU members will no longer be able to buy the most polluting fossil fuel on the planet from Moscow.
Difficult to agree to extend the embargo on oil and gas
The discussion on the other two main chapters of the energy sanctions remains open: oil and gas. “We are working on additional sanctions – assured the president of the EU Commission, Ursula von der Leyen – also on oil imports”.
But reaching the necessary unanimity will not be easy, because Germany, Austria and the Netherlands are decidedly opposed to intervening on oil and gas, which have an economic importance far greater than that of coal.
Sanctions: Coal counts for less than oil and gas
In fact, from a European point of view, coal represents just 5-6% of total energy imports from Russia, for a value that does not exceed 4 billion euros a year. It is, moreover, a product easily available in other markets: from the USA to Indonesia and Australia.
Intervening on oil alone would be difficult
Even further intervention limited to oil would not be easy. Not only because, as Berlin fears, Russia could react by turning off the gas taps, but also because, in the field of crude oil, Europe's dependence on Moscow is over 25%. And, as for gas, the most exposed countries are Italy and Germany.
The other sanctions included in the fifth package
In addition to the coal embargo, the fifth package of sanctions provides for the closure of ports to Russian ships, the blocking of road haulage and the extension of the ban on financial exchanges to four other banks, including Vtb.
