Sources indicate that the EU will not completely prohibit Russian coal imports until August.

• The EU's proposed ban on coal imports from Russia is not anticipated to be implemented until August, which is a month later than anticipated.
• While Germany is among the most skeptical countries regarding blocking energy supplies from Russia, it is not the only one. Austria and Hungary, for example, also share this opposition.
• The bloc has faced significant difficulty in approving these sanctions due to its heavy reliance on Russian energy.

The European Union's proposed ban on coal imports from Russia is not anticipated to be fully implemented until August, a month later than initially predicted, according to two sources.

The European Commission, the executive arm of the EU, has proposed a ban on Russian products in response to evidence of atrocities committed by Russian troops against Ukrainians in Bucha and other areas.

The EU official, who wished to remain anonymous due to the confidentiality of the negotiations, informed CNBC that the initial plan to end coal imports was to be completed in three months. However, the official stated that this timeline has been extended to four months, meaning the full implementation of the ban will occur in August.

A second EU official confirmed to CNBC Thursday that there was an effective German lobby to extend the phase-out period for existing coal contracts to four months.

While Germany is among the most skeptical countries regarding blocking energy supplies from Russia, Austria and Hungary also share this skepticism.

Russia's energy supplies have a significant impact on these nations' economies, and they believe that banning them could harm their own economies more than Russia's.

In 2020, Germany obtained 21.5% of its coal from Russia, 35.2% of its oil from Russia, and 58.9% of its natural gas from Russia, as per data from the European statistics office.

The EU faces a significant challenge in approving energy sanctions due to its heavy reliance on Russian energy supplies.

The European Commission has proposed its first energy sanction due to the region's heavy reliance on Russia's oil and natural gas, despite being less dependent on coal imports.

While Russia accounted for 36.5% of the EU's oil imports in 2020, it was responsible for an even larger share of its gas imports, with 41.1% coming from Russia. However, only 19.3% of the EU's coal imports originated from Russia.

However, momentum for a ban on Russian oil is building too.

This week, Ursula von der Leyen, President of the European Commission, announced that her team was actively developing oil sanctions.

She stated that they are considering imposing additional sanctions, such as restrictions on oil imports, and are reviewing proposals from member states, including taxes or using an escrow account for payments.

On Monday next week, EU foreign affairs ministers will discuss an oil ban, but it is unlikely that they will proceed with such a measure at this time because all 27 member states must agree on imposing additional sanctions.

On Thursday, Brent crude increased by approximately 1.3% and was priced at $102.44 per barrel. Since the unprovoked invasion of Ukraine by Russia on February 24, oil prices have been steadily increasing.