EU: This embargo is officially effective today

Starting from the 11th, the EU's embargo on Russian coal officially took effect. The EU generally believes that embankment will lead to rising coal costs and raising electricity prices in the region.

In April of this year, the European Union decided to implement coal embargo against Russia. The EU initially proposed a 90 -day transition period for member states, but extended to 120 days under the demands of Germany and other countries. EU spokesman said on the 10th that the transition period was over at the end of the midnight period and will not be extended.

Russian coal embargo is one of the fifth round of the EU's series of sanctions on Russia. It is also the first time that the EU has imposed sanctions on Russia's energy since the occurrence of the Ukraine crisis. Data show that 45%of coal imported from the European Union in the past comes from Russia. Germany, Poland and the Netherlands are the largest buyers in the European Union. About 70%of power coal used in the EU for power generation and heating is imported from Russia. Compared with petroleum and natural gas, the total amount and value of Russian coal imported by the European Union are much lower, and sanctioning Russian coal is easier for the European Union.

At present, the European Union is increasing its efforts to purchase coal from countries such as South Africa, hoping to make up for the vacancy of the market. However, the EU generally believes that importing coal from other countries and regions will lead to rising costs, and for Russian coal embargo, it also means that the EU will face the rise in electricity prices.

Source: CCTV News Client

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