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In front of express Moscow Indifference to the decision, and the lack of sufficient quick alternatives, the fear of an economist at the British National Institute for Economic and Social Research, in an interview with the website "Sky News Arabia" of its consequences for Volume and energy prices in Europe by winter.
This comes after the union gave companies operating in its 27 countries four months to compensate for Russian coal, starting from last April, to start implementing the decision as of August.
In July, London announced a ban on Russian coal imports As of August 10.
According to a report by the European Research Center "Broughal"who specializes in economic policy, the European Union imports 70% of coal for electricity generation from Russia.
To mitigate the fallout from the Russian coal ban, European countries imported 7.9 million metric tons of thermal coal last June, more than doubling year-on-year, according to shipping services data. "Braymar".
Russian reply
Referring to that European sanctions It will not harm Russia alone, the agency quoted "Dice" According to the director of the Russian Center for Energy Efficiency, Ekaterina Kvasha, that the ban imposed by the European Union and Britain on Russian coal may lead to an increase in electricity prices in Europe.
As for the alternative, Europe will resort to Australia or Indonesia to import coal, but the price will be higher due to logistics services and the general increase in the price of coal in the market, according to the Russian official.
Regarding the fate of Russian coal, she indicated that the quantities banned from being imported in Europe can be redirected to the markets of Southeast Asia, China and India.
Corrado Macchiarelli, director of global macroeconomic research at the British National Institute for Economic and Social Research, confirms to"Sky News Arabia"Europe was affected by the ban on Russian coal, noting that Moscow accounts for 47 percent of solid fuel imports, led by coal, while Washington accounts for 18 percent and 14 percent for Australia.
Four European countries rely more on Russian coal: Germany, Poland, the Netherlands and Italy, according to Macchiarielli.
The economist feared that Europeans’ energy bills would rise in the absence of preventive measures, which would cause increased pressure on citizens’ incomes, in addition to the contribution of increased demand from the Union countries to an increase in coal prices in global markets.
In Germany, the government has imposed new energy-saving measures, including Swimming pool heating is prohibited In the winter, making unused spaces in large office buildings unheated, as well as turning off the lights in tourist attractions, the city of Cologne dimmed street lighting after 11 pm, and Hanover turned off the lights of historic buildings and fountains.
Berlin also decided to reopen coal plants, after the remaining plants were due to close by the end of the decade.
magazine quotes "Foreign Policy" About the CEO of the consulting firm "gas vista"Leslie Balti, saying it’s okay to go back to coal "no escape" And it will continue to be a factor in energy security.
International Energy Agency data indicates that coal remains the world’s largest source of electricity generation; It provides 38 percent of the world’s electricity need, outperforming natural gas and renewable energy.
Russia exported 238 million tons of coal in 2021, 90 million tons of which went to OECD countries, according to the US Energy Information Administration.
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In front of express Moscow The indifference to the decision, and the lack of sufficient quick alternatives, feared an economist at the British National Institute for Economic and Social Research, in his interview with Sky News Arabia, about its consequences on Volume and energy prices in Europe by winter.
This comes after the union gave companies operating in its 27 countries four months to compensate for Russian coal, starting from last April, to start implementing the decision as of August.
In July, London announced a ban on Russian coal imports As of August 10.
According to a report by the European research center “Brogel”, which specializes in economic policies, the European Union imports 70% of coal for electricity generation from Russia.
To mitigate the fallout from the Russian coal ban, European countries imported 7.9 million metric tons of thermal coal last June, more than doubling year-on-year, according to data from Braimar shipping services.
Russian reply
Referring to that European sanctions It will not harm Russia alone. The Russian “TASS” agency quoted the director of the Russian Center for Energy Efficiency, Ekaterina Kvasha, as saying that the ban imposed by the European Union and Britain on Russian coal may lead to an increase in electricity prices in Europe.
As for the alternative, Europe will resort to Australia or Indonesia to import coal, but the price will be higher due to logistics services and the general increase in the price of coal in the market, according to the Russian official.
Regarding the fate of Russian coal, she indicated that the quantities banned from being imported in Europe can be redirected to the markets of Southeast Asia, China and India.
In turn, Director of Global Macroeconomic Research at the British National Institute for Economic and Social Research, Corrado Macchiarelli, confirms to “Sky News Arabia”, that Europe has been affected by the ban on Russian coal, noting that Moscow accounts for 47 percent of solid fuel imports, led by coal, in When Washington acquires 18 percent, and 14 percent for Australia.
Four European countries rely more on Russian coal: Germany, Poland, the Netherlands and Italy, according to Macchiarielli.
The economist feared that Europeans’ energy bills would rise in the absence of preventive measures, which would cause increased pressure on citizens’ incomes, in addition to the contribution of increased demand from the Union countries to an increase in coal prices in global markets.
In Germany, the government has imposed new energy-saving measures, including Swimming pool heating is prohibited In winter, making unused spaces in large office buildings unheated, as well as turning off the lights at tourist attractions, the city of Cologne dimmed street lighting after 11 p.m., and Hanover turned off the lights of historic buildings and fountains.
Berlin also decided to reopen coal plants, after the remaining plants were due to close by the end of the decade.
The magazine “Foreign Policy” quoted the CEO of consulting company “Gas Vista”, Leslie Balti, as saying that the return to coal is “inevitable” and will continue to be a factor in securing energy.
International Energy Agency data indicates that coal remains the world’s largest source of electricity generation; It provides 38 percent of the world’s electricity need, outperforming natural gas and renewable energy.
Russia exported 238 million tons of coal in 2021, 90 million tons of which went to OECD countries, according to the US Energy Information Administration.
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