The EU has drastically scaled back its imports of Russian thermal coal ahead of a full ban next month, compounding fears over an intensifying energy crisis in the bloc.
Just 1.7mn tonnes of Russian coal, used for power generation, were shipped by sea to the EU in June, a decline of 48 per cent compared with May as western powers extended their punitive measures against Moscow following its invasion of Ukraine. That marked the biggest monthly drop since at least 2019, according to commodity consultants CRU. Europe receives most of its coal through the port of Rotterdam.
The decline in June came after three consecutive months of steady rises in imports, even as Russia stepped up its offensive in its neighbouring country. Dmitry Popov, analyst at CRU, said European companies had stockpiled a large amount of Russian coal ahead of the full import ban.