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Colombia Implements Ban on Coal Exports to Israel

Esther

Colombia has announced a ban on coal exports to Israel. This decision, spearheaded by President Gustavo Petro, is a direct response to the ongoing conflict in Gaza.

The decree was signed last week and aims to pressure the Israeli government to cease hostilities.


Colombia, which is the largest supplier of coal to Israel, exported $320 million worth of coal to the country in the first eight months of 2023 alone. The ban, however, will not affect already contracted coal volumes.


President Petro's announcement on X (formerly Twitter) stated, "We are going to suspend coal exports to Israel until the genocide stops," highlighting the humanitarian motivations behind the decision.

The Colombian trade ministry confirmed that the ban would take effect five days after the publication of the decree in the state gazette.


This move follows Colombia's earlier decision in May to sever diplomatic ties with Israel amid the war with Hamas.


The ban echoes similar actions taken by Turkey, which halted all trade with Israel demanding an uninterrupted flow of humanitarian aid into Gaza.


The quality of Colombian coal, known for its low ash and low sulfur content with a calorific value of 11,300 Btu/lb, makes it a major player in the global market. Despite this, the ban has raised concerns within Colombia's mining industry.


The Colombian Mining Association (ACM) warned that the decision could harm the country's economy and deter foreign investment. "This decision would not comply with international commitments by Colombia that should be respected and puts at risk the confidence of markets and foreign investment," the ACM stated.


Hydrocarbons, including coal, constitute more than half of Colombia's export income. However, President Petro has pledged to shift the country's policies towards becoming an energy transition leader.





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