EU to propose banning Russian coal imports after atrocities

Bloomberg

The European Union is planning to propose a mandatory phaseout on coal imports from Russia in a direct response to reports that Russian forces committed apparent war crimes in Ukraine, according to people familiar with the matter.
The action on coal would be added to a package of steps aimed at strengthening existing measures and correcting loopholes that was already set to be debated by EU ambassadors.
The details of the ban and the timing of the coal phaseout are still under discussion, the people said.
The European Commission is also expected to propose banning most Russian trucks and ships from entering the bloc, the people said.
Germany, which had previously blocked efforts to embargo Russian energy, is ready to consider a Russian coal ban and is in discussion with the EU about the timing of such a move, according to a German official with knowledge of the discussions.
Year-ahead futures for coal delivered to northwest Europe jumped as much as 7.9% to $205 a ton. Russia supplies about half of the continent’s thermal coal, used to fuel its power stations and generate electricity.
The EU isn’t planning to sanction oil or gas for now, despite intense pressure to inflict more economic pain on Moscow, the people said. But EU nations are deeply split over the next steps and some governments are continuing to push for at least a signal that the bloc is looking to reduce Russian oil imports, one of the people said.
Several governments, including Germany and Hungary, have resisted expanding the scope of sanctions to Russia’s energy sector.