European Commission to Target Russian Coal Under New Sanctions

European officials say the European Commission will propose new sanctions against Russia on Tuesday,  including a ban on Russian coal imports, reducing the accessibility of land and road carriers into this bloc, targeting oligarchs and their families, and blocking some machinery exports.

The proposed ban on Russian coal was confirmed by Vice President of the European Commission Valdis Dombrovskis. It would be the first time the EU has agreed to block imports of one of its main energy supplies Russia. EU capitals are still divided on whether to impose a ban on Russian oil and gas imports, although the momentum behind introducing a phased-in embargo of Russian oil supplies is gathering.

The measures will also include a complete ban on transactions with a number of other Russian banks, three of which have been removed from the SWIFT financial trading network, including VTB,  the second-largest lender from Russia, officials said.

The EU will limit the import of potash, a fertilizer used largely in Belarus, it will also blacklist Russian oligarchs and other high-ranking officials and target several prominent family members who are listed as having control over the family entities and assets.

The bloc will also stop the export of some high-tech machinery to Russia, including electrical and transport equipment worth around 10 billion euros in annual exports.