The embargo was given for the fifth package of anti-Russian sanctions adopted in April this year.
On August 1, the EU embargo on coal imports from Russia came into effect. The proposal was given for the fifth package of anti-Russian sanctions, which was approved on April 8.
The document emphasizes that the ban on the purchase, import and transfer of coal and other solid fossil fuels in the EU, whether it is mined or exported from Russia, will take effect from August 2022.
In the European Commission’s explanations for the fifth package of sanctions, it is said that the coal import embargo will hurt the Russian Federation, since the EU accounts for a quarter of all Russian exports.
“This will lead to the loss of approximately eight billion euros of revenue per year for Russia. For existing contracts, there is a four-month termination period (which expires in August – ed.),” said the EC.
Remember, in addition to coal, the fifth package of EU sanctions against Russia includes import bans, wood, chemicals, luxury goods. He also handled more than 200 individuals, several companies and banks.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.