EU to ban all coal imports from Russia – Reuters

Citing a source familiar with the matter, Reuters reported on Tuesday that the European Union was planning to ban all coal imports from Russia.

Additional takeaways

"EU to ban  export to Russia of semiconductors, high-tech machinery, LNG extraction tech, and other equipment."

"EU export ban represents a value of 10 billion euros a year."

"EU to ban import from Russia of wood, cement, rubber, chemicals, high-end foodstuff, incl caviar, and spirits including vodka for a total value estimated of 5 billion euros a year."

"EU to ban Russian trucks and Russian vessels from entering the EU."

"EU to block all transactions with VTB Bank and other three Russian banks already excluded from SWIFT messaging system."

Market reaction

This headline doesn't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was unchanged on the day at 1.0970.