EU-Wide Ban on Russian Coal Comes Into Effect Amid Energy Crisis in Europe
09:14 GMT 01.08.2022 (Updated: 17:14 GMT 12.04.2023)
© Sputnik / Alexander KryazhevCoal
© Sputnik / Alexander Kryazhev
Coal prices reached record levels following the beginning of Russia's special operation in Ukraine, surpassing $400 per ton.
A blanket ban on Russian coal, imposed by the European Union, is entering into force on Monday. A sanctions package limiting the ability of European countries to import Russian coal was adopted back in April.
At the same time, the bloc is boosting its coal mining amid rising gas prices and the escalating fuel crisis. For instance, France previously noted that it may relaunch a coal-fired power plant in Saint-Avold in Moselle, despite Emmanuel Macron's promises to limit pollution by closing all such plants in the country.
Meanwhile, the German authorities adopted a law allowing for the restoration of coal-fired power plants, which had previously been scrapped for climate protection reasons.
The EU consumes around 21.8% of Russian coal exports; around 48.7 million tons annually.
Europe slapped sanctions against Russia when Moscow started its special op in Ukraine, responding to Kiev's intensifying attacks on the Donbass republics. The sanctions resulted in skyrocketing fuel prices across the world, which particularly affected EU countries. The bloc had to agree on a reduction of gas demand by 15% by this winter in order to withstand the spike in prices and address its dependence on imports.