EU interdiction of Russian coal imports will take effect when the transition is complete

Brussels 10 Aug, : European Union (EU) member states will not be able to import more coal from Russia after the transitional period of the embargo of the bloc expires at midnight on Wednesday.

It will come into effect in full effect from Thursday DPA news agency reports.EU countries had negotiated an interim time of 120 days, to allow industries time to adjust to the ban on imports.

The goal is to destabilize the Russian economy following the incursion of Ukraine.The European Commission said in April that the coal embargo could cost Russia approximately 8 billion euros per year.

The coal embargo was the first time that the EU has sanctioned Russian energy sources.In a subsequent sanctions plan, the bloc decided to ban largely Russian oil imports in order to increase the pressure on Moscow.

The ban on oil is scheduled to take effect at the close of this year, with some exceptions for countries heavily dependent on Russian oil.This includes Hungary which will continue to receive pipelines from Russia.But, Russian pipeline operator Transneft announced on Tuesday that oil transportation from Russia to Hungary as well as Slovakia, Czech Republic and Slovakia had been stopped.