Is it true that EU sanctions against Russian coal do not affect the Russian economy in any way?

Over the past 30 years, the supply of stone coal to the European Union from Russia has grown by an order of magnitude-from 8 million tons in 1990 to 43 million tons in 2020. Now Russian coal occupies more than half of European imports. New EU sanctions are completely reset this achievement. True, coal buyers from Russia will still be found

Unloading of coal from the barge, Frankfurt, March 27, 2022. Photo: Frank RumpenHorst / DPA / Global Look Press

Last week, the European Union agreed on the fifth package of sanctions against the Russian Federation, which provides for a gradual abandonment of Russian coal until a complete ban on imports from August of this year. The Chairman of the European Commission Ursula von der Layen previously estimated the damage of Russia from the cessation of coal supplies to European consumers of € 4 billion a year.

The analysis of the global coal market shows that theoretically, Europe can replace Russia with other coal suppliers, but the deficiency of this fuel can confuse European plans. For Russia, the loss of the European coal market will be essential for the coal industry, but not fundamental in the scale of the total export. And in the future, it is planned to replace European consumers with Asian. Details are in the energy review of the magazine "Money".

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