Coal exports from Russia by rail in January of this year decreased by 4.7% compared to the same month in 2022, amounting to 16.5 million tons. At the same time, more than 6 million tons were sent to China, 3.2 million tons to India, 2.8 million tons to the UAE, 2.3 million tons to Turkey. More than 1 million tons of coal were bought by Japan and South Korea together, a source told Interfax.
In February, the Central Bank published a review of the regional economy. As noted in the report, coal supplies to Asia are on the verge of profitability. This was also due to the increase in logistics costs. However, Russian suppliers do not want to disrupt the deadlines for the execution of contracts, so as not to lose customers.
At the same time, domestic mining enterprises have significantly increased the production of raw materials. The Russian coal industry is supported by demand against the background of the energy crisis around the world.
As Kommersant wrote, in August 2022, the European Union banned the export of Russian coal, but in September it abandoned this decision, allowing European companies to deliver and insure coal from Russia to countries outside the eurozone. Brussels took this step as part of the fight against the energy crisis.
“Profile”
Source: BRICS website
