EU's full ban on Russian coal to be pushed back to mid-August

European Union envoys are set to approve on Thursday a ban on Russian coal that would take full effect from mid-August, a month later than initially planned, two EU sources told Reuters, following pressure from Germany to delay the measure.

Oil and gas, which represent far bigger imports from Moscow, are still untouched.

The EU Commission had initially proposed a wind-down period of three months for existing contracts, meaning that Russia could effectively still export coal to the EU for 90 days after sanctions were imposed, according to a document seen by Reuters.

But that period has been extended to four months, the sources who are familiar with the discussions told Reuters on condition of anonymity. That followed pressure mostly from Germany, the EU's main importer of Russian coal.

With sanctions expected to take effect later this week, or early the next, after publication in the EU official journal, Russian companies will effectively be able to export coal to the EU until mid-August under existing contracts.

One diplomat said most coal contracts were short term, and a wind-down period of 90 days would have allowed most of them to be concluded without the need for cancellation, avoiding legal risks. Some contracts however last longer than one year.