Russia may redirect coal exports from Europe to Asia-Pacific countries
Russia is redirecting coal exports from annexes (EU) to Asia-Pacific countries through the seaports of the European parts of the country, Deputy Prime Minister Alexander Novak said on April 7. He explained that Russian companies have the opportunity to export coal to the Asia-Pacific market through underloaded ports – for example, Taman and free capacity in the Baltic Sea. “It all depends on cost, logistics <...> Coal companies are also working now,” the Deputy Prime Minister said (quote from Interfax).
As part of the fifth package of meetings due to the holding of the Russian Federation in Ukraine, the EU intends to ban the import of Russian coal. The head of the European Commission, Ursula von der Leyen, on April 5 estimated the volume of these exports from Russia at 4 billion euros per year. Reuters sources specify that the EU intends to impose an embargo on the supply of Russian coal with suspicion for August 2022 – a month later than it would appear initially. The August August contract of the Russian company for the export of coal to the EU for operation, spot purchases will be consumed immediately after the decision is made, the agency reported. At the same time, according to Reuters, the maximum number of contracts for the supply of coal from Russia are short-term, completed within 90 days, which avoids legal risks.