According to media reports, Russian government is considering imitating exports of coking coal to reduce prices in the domestic market and Russian government’s Ministry of Energy and the Ministry of Industry & Trade are preparing framework of restrictions on exports of coking coal from Russia. Earlier report suggest that Russian authorities had appealed to all market participants to give preferences to supplies to the domestic market instead of export trading and to refrain from using a direct correlation with global prices when settling offer prices for the domestic market. European Union in the fifth round of punitive measures against Russia on 5 April has imposed import ban on coal from Russia, worth EIU 4 billion. While announcing the measures, Ursula von der Leyen had said that coal was a vital source of income for Russia and, therefore, it is crucial for the European Union to impose a ban on its import. According to the Energy Ministry in Russia, in 2021 coal exports from Russia amounted to 215.1 million tonnes, including 22.6 million tonnes of coking coal. China imported 3.76 tonnes metallurgical coal in March, up 26% on the month but 23% lower on the year. Russia was the top origin for China’s in met coal intake in March, with the volume up 26% on the month or rising 159% on the year to 1.43 million tonnes, partly reflecting the reshuffling Russian coal trade since February
According to media reports, Russian government is considering imitating exports of coking coal to reduce prices in the domestic market and Russian government’s Ministry of Energy and the Ministry of Industry & Trade are preparing framework of restrictions on exports of coking coal from Russia. Earlier report suggest that Russian authorities had appealed to all market participants to give preferences to supplies to the domestic market instead of export trading and to refrain from using a direct correlation with global prices when settling offer prices for the domestic market. European Union in the fifth round of punitive measures against Russia on 5 April has imposed import ban on coal from Russia, worth EIU 4 billion. While announcing the measures, Ursula von der Leyen had said that coal was a vital source of income for Russia and, therefore, it is crucial for the European Union to impose a ban on its import. According to the Energy Ministry in Russia, in 2021 coal exports from Russia amounted to 215.1 million tonnes, including 22.6 million tonnes of coking coal. China imported 3.76 tonnes metallurgical coal in March, up 26% on the month but 23% lower on the year. Russia was the top origin for China’s in met coal intake in March, with the volume up 26% on the month or rising 159% on the year to 1.43 million tonnes, partly reflecting the reshuffling Russian coal trade since February
