The EU is planning a mandatory phase-out of coal imports from Russia in response to reports about Russian atrocities in Ukraine, according to a report.
The action would be added to measures already ready for debate by EU ambassadors, Bloomberg reported. Details of the plan are under discussion, people familiar with the proposals told Bloomberg.
The European commission is also likely to propose a ban on most Russian trucks and ships from entering the EU, the report said. Russia supplies about half of Europe’s thermal coal used for power stations to generate electricity.
The EU is not planning to sanction Russian oil or gas for now amid deep divisions between member states but some governments want to signal that reduced oil imports are on the way. Reports that Russian soldiers executed civilians have strengthened calls by some EU members for stronger sanctions.
The EU’s 27 member states would have to agree the tougher sanctions. Year-ahead futures for coal delivered to northwest Europe rose as much as 7.9% to $205 a ton, Bloomberg said.