In response to the ongoing conflict in the Gaza Strip, the Colombian Ministry of Trade has recommended that the Commission on Customs Duties and International Trade Restrictions impose a ban on the supply of coal to Israel. Currently, Colombia is Israel’s largest supplier of coal, worth $450 million per year. However, this coal is not directly sourced from Colombia but from international traders.
Despite this recommendation, it is unlikely to have a significant impact on the Israeli electricity market as Israel has substantial strategic coal reserves and is already transitioning to gas power plants. Furthermore, such a ban would also be a violation of the free trade agreement and could lead to an appeal to the World Trade Organization.
It’s worth noting that President Gustavo Petro of Colombia, who comes from a background in left-wing movements and was once part of a radical guerrilla group in his youth, has taken an extremely anti-Israel stance. His government’s position on this issue reflects this stance, with a recommendation to ban coal exports to Israel until hostilities in the Gaza Strip end.
