Kremlin spokesman Dmitry Peskov said on April 8 that coal demand is high and Russia will turn to other markets instead when Europe stops importing this item.

According to Reuters, the European Union on April 8 officially approved the fifth package of sanctions against Russia since the geopolitical tension between Russia and Ukraine escalated, including a ban on imports of coal, wood, and chemicals. and other products.

“Coal is still a highly sought after commodity. If Europe bans Russian coal, it will be redirected to other alternative markets,” Peskov said.

The coal import ban will take full effect from the second week of August, and no new contracts can be signed from April 8.

According to the Russian Energy Ministry, the country exported a total of 223 million tons of coal last year, of which 48.7 million tons, or 22%, went to Europe.

Russian Energy Minister Nikolai Shulginov said the decision of European countries would backfire because the process of replacing coal shipments from Moscow would be time-consuming and costly.

He reiterated that Russian coal companies will redirect supply but did not specify which markets. Japan, which joined previous sanctions against Moscow imposed by the United States and the European Union, said on April 8 it would also ban coal imports from Russia.

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