Daily Times

The European Union on Thursday said it had approved an embargo on Russian coal as well as the closing of the bloc’s ports to Russian vessels over the Ukraine war. An official from the French presidency of the European Council said the moves spearhead a “very substantial” fifth round of sanctions against Moscow. That package also includes a EU 10b ban on exports to Russia, including high-tech goods, and the freezing of the assets of several Russian banks. The new measures were proposed by the European Commission after the bodies of dozens of civilians were found last weekend in Bucha near Kiev. It is the first time the Europeans have targeted the Russian energy sector, on which they are heavily dependent. The EU nations import 45pc of their coal from Russia, worth 4b euros a year. The embargo will come into force at the beginning of August, 120 days after the publication of the new package in the EU’s official journal, expected on Friday.