2024-06-07 16:50:45
A doable Colombian authorities ban on coal exports to Israel would violate worldwide agreements and threaten market confidence and overseas funding, Colombia’s non-public mining affiliation mentioned.
Bloomberg reported Thursday that Colombia’s Commerce Ministry might ban coal shipments to Israel after leftist President Gustavo Petro severed diplomatic ties with Israel in Could to protest its actions within the Gaza Strip.
A Colombian Commerce Ministry supply instructed Reuters that there’s presently no order, regulation or decree that may ban or limit coal exports to Israel.
Petro sharply criticized Prime Minister Benjamin Netanyahu, and Colombia joined South Africa’s case accusing Israel of genocide on the Worldwide Courtroom of Justice.
Colombia, the world’s fifth-largest coal producer, shipped 56.7 million metric tons of coal overseas final 12 months, together with 3 million tons to Israel, about 5.4% of complete exports, based on authorities information.
“This resolution doesn’t adjust to Colombia’s worldwide obligations, which have to be revered, and threatens market confidence and overseas funding,” the Colombian Mining Affiliation (ACM) mentioned in an announcement.
Israel is a key vacation spot for Colombian coal, and its shipments generate about $165 million a 12 months in taxes, royalties and different charges.
The free commerce settlement between Israel and Colombia has been in place since 2020, and the ACM mentioned it prevents restrictions on imports and exports between the 2 nations.
Drummond and Glencore GLEN.L are main non-public coal miners in Colombia.
Cursor beforehand wrote that Netanyahu and the President of Colombia staged a public squabble on social networks.
2024-06-07 16:50:45