Entry into force of the European embargo on Russian coal

by time news

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The European embargo on Russian coal entered into force at midnight, four months after it was adopted by the European Union (EU). A measure which aims to hit the wallet of the Russian regime, but which comes at a time when the EU is facing severe tensions over its energy supplies.

Russian coal accounted for 45% of European Union imports last year. For Russia, this represents a shortfall of 4 billion euros per year. To compensate for Russian coal, the Twenty-Seven have already begun to source supplies elsewhere from the United States, Australia, South Africa and Indonesia.

Risk of shortage in Europe

This embargo comes into force at a time when the Twenty-Seven are faced with the drop in Russian gas deliveries and the risk of shortages. Due to a lack of gas, in order to avoid electricity shortages, several European countries have announced in recent months increased recourse to coal-fired power plants. This is the case of Austria, the Netherlands and even Italy. For example, over the first five months of the year, electricity produced from coal in Germany would have jumped by 20%, according to the energy research firm Rystad. A political choice that calls into question the European Union’s climate ambitions to reduce greenhouse gas emissions by at least 55% by 2030.

Poland in a complicated situation

Faced with tensions on the markets, the equation promises to be complicated for Poland, a traditionally mining country, but a net importer of coal: while local production has amounted in recent years to around 55 million tonnes per year, the country still had to import about 12 million tons, including 10 from Russia. The populist nationalist government imposed a total ban on Russian coal imports in mid-April, causing serious shortages and skyrocketing prices. A ton of coal in Poland is currently worth four times more than a year ago.

►Also listen: Accents from Europe – The return to coal to make up for the Russian gas shutdown

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