The member states of the European Union can no longer import coal from Russia, the transition period of 120 days in which the industry was supposed to adapt to this ban has expired.
The embargo on Russian coal is part of the fifth package of sanctions that the European Union passed in April 2022 to make it independent of Russian fossil fuels and to weaken the Russian economy due to the war in Ukraine.
In order for the industry to prepare for the import ban, the EU member states set a deadline of 120 days, the so-called transitional period.
According to the world media, in April, after making the decision on the embargo, the European Commission announced that it will cost Russia about eight billion euros per year.
In addition to banning the import of Russian coal, the European Commission, as part of the economic sanctions against Russia, made a decision to ban the import of oil. Then a plan was presented to follow during the transitional phase of six months, the ban on the import of crude oil begins, and after eight months, the ban on imports also begins oil derivatives. At the same time, it is also important whether the deliveries go via oil pipeline or by ship.
Major exemptions from the embargo are planned only for Hungary and Slovakia, which are highly dependent on Russian oil, and since they are landlocked they cannot switch to other sources of supply as quickly as other countries.
However, at the beginning of August, Ukraine stopped the transportation of oil from Russia via the southern branch that supplies Hungary, the Czech Republic and Slovakia.
EU member states are working on permanent solutions to free themselves from dependence on Russian gas and oil, other suppliers are intensively sought, new gas pipelines, LNG terminals are being built and investments are being made in renewable energy sources.
Source: Energy Portal of Serbia by www.energetskiportal.rs.
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