Discussing the Sanctions Against Russia Because of the War in Ukraine

Due to the war in Ukraine, we are ready to give up Russian coal at any time – these words of Prime Minister Mateusz Morawiecki caused a strong reaction on the stock exchange.

Polish coal companies listed on the Warsaw Stock Exchange have strongly reacted to the Polish government’s readiness to impose a coal embargo from Russia. Prime Minister Mateusz Morawiecki spoke about it during the meeting with Charles Michel Rzeszów.

Boycott of Russian Coal Due to War in Ukraine:

– A blockade on oil, gas, and coal from Russia due to War in Ukraine is to be part of the sanctions package. I am calling once again for the European Commission to decide on an embargo on Russian coal. Poland immediately wants to stop importing this coal. Today I spoke with the Prime Minister of Australia to transport coal from there, which is needed for various purposes, mainly for heating, said Prime Minister Mateusz Morawiecki.

– We are ready to do it at any time. I just need the EC’s guarantee that Poland will not be punished for it. International trade is the competence of the European Commission. We need a word that we will not be punished for imposing the embargo, added the Prime Minister.

Polish coal companies listed on the Warsaw Stock Exchange reacted strongly to the Prime Minister’s words and more and more mentions of the embargo from other leaders of the European Union. The Friday quotes were closed with large gains in the stocks of the largest of them.

Bogdanka ended Friday with a result of 9.7 %. higher than at the beginning of the day. Jastrzębska Spółka Węglowa also recorded a large, though not so spectacular growth. Its shares lost 5.79 % at closing.