Russian sales fell 22% in January-February compared to the same period in 2023 to 11.5 million tons.
China began protecting its domestic market from Russian coal rushing there after the introduction of the European embargo and restricting work at companies subject to US sanctions. Bloomberg reported this on March 21, citing customs data.
China’s total coal import volume in January-February rose 23% year-on-year to 74.5 million tons, while imports of the resource from Russia fell 22% to 11.5 million tons.
Import tariffs were reinstated earlier this year, although other major suppliers, including Indonesia and Australia, were spared thanks to free trade agreements with China.
China has lifted tariffs on Russian coal imports by May 2022 amid rising energy prices. This helped increase resource supplies from Russia to record levels by 2023. The policy has now shifted to protecting miners from the effects of a market glut after coal production in China itself rose to a record high.
In February, the United States imposed sanctions against major Russian coal companies: SUEK and Mechel. It also curbs interest from Chinese consumers who worry about the risk of secondary sanctions that could limit their access to transportation or banking services, the agency said.
Russia remains the second largest supplier of coal after Indonesia.
Let’s recall that India refused to enter into contracts with Rosneft. In addition, India has not bought Russian premium oil for two months now.
Source: korrespondent
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