LONDON (Bywire News) - Ukraine’s President Zelensky has blasted the latest round of international sanctions as being an invitation for Russia to attack as concern about a major offensive in the East grows.
The international community announced a fresh round of sanctions this week including against his daughters and coal imports. However, in a sign of how week willed the EU’s response has become, the ban on coal supplies will not take effect until mid-August, a month later than initially planned.
The phase-out of EU imports of Russian coal had been at the cornerstone of the latest package of sanctions proposed by the EU Commission, in reaction to the atrocities uncovered in the Ukrainian town of Bucha. When it belatedly comes into effect it will be the first EU ban on any energy import from Russia.
Energy imports have been highly controversial during this crisis. Russia relies heavily on exports of gas, oil and coal. Without it, their ability to fund the war would be greatly compromised. With it, the EU is effectively funding its war.
However, the EU has so far resisted all efforts to ban energy. Oil and gas which make up a far bigger proportion of Russia’s income remain intact giving the ban on coal more than a slight feel of tokenism.
Even that has been half-hearted. The EU Commission initially proposed a wind-down period of three months for existing contracts which means Russia could still export coal to the EU for 90 days after sanctions are imposed. That period has been extended to four months, according to a source familiar with the discussions. This move came after pressure from Germany which is Russia’s main importer of coal and has been one of the main voices against bans on energy imports.
The change means that even after the publication of sanctions Russian companies will be able to continue importing coal to the EU. According to one diplomat, most contracts are short term which will enable them to be wound down without legal risks.
As weak as the EU’s proposed ban might be, the UK’s is even worse. It still says it only plans to ban coal imports from Russia by the end of the year.
The news was met with scepticism from Ukraine’s leader Zelensky who said the package ‘looks good but is not enough.’ Earlier in the week, he had laid into French and German leaders who he accused of being too soft on the threat from Russia.
"I invite Ms Merkel and Mr Sarkozy to visit Bucha and see what the policy of concessions to Russia has led to in 14 years," Zelensky said, referring to the killings of Ukrainian civilians in towns north of Kyiv.
In terms of what he wants to see from the international community he has a clear message: “weapons, weapons and more weapons.”
The EU Commission estimates the coal ban could cost Russia four billion euros in lost revenue each year. Given the shock which has already hit the Russian economy, that’s unlikely to deter future aggression.
(Writing by Tom Cropper, editing by Klaudia Fior)