The European Union's embargo on Russian coal came into effect on Monday local time.
In April, the EU decided to impose an embargo on Russian coal. The EU initially offered members a 90-day transition period, but extended it to 120 days at the request of Germany and others. This means that the transition period will end at midnight local time on October 10, and the embargo will take effect from November 11. The coal embargo against Russia is one of the fifth round of sanctions by the EU against Russia, and it is also the first time that the EU has imposed sanctions against Russian energy since the Ukraine crisis.
The move comes as the EU steps up purchases of coal from countries such as South Africa, hoping to fill a gap in the market. But there is widespread agreement within the EU that while coal can be imported from other countries and regions, costs will rise; The coal embargo also means that the EU region will face higher electricity prices.
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