Weeks after snapping up discounted Russian crude, India is setting for a major increase in its purchases of coal from the sanctioned country. The world’s sixth biggest economy is focused on its energy security, disregarding attempts by the US and its allies to isolate Moscow.

In March, India’s coal imports from Russia reportedly surged to a two-year high. The Asian country purchased 1.04 million tons of Russian coal, the highest amount since January 2020, according to Matthew Boyle, lead dry bulk analyst at commodity intelligence firm Kpler, as cited by CNBC.

Last week, US President Joe Biden signed an executive order banning the import of Russian coal along with crude oil, gasoline, petroleum products, oils and liquefied gas as part of a new batch of penalties against Moscow over its military operation in Ukraine. Later, the European Commission proposed banning Russian energy imports, including coal. However, the bloc’s policy-makers have failed to agree on a new package of sanctions.

“Markets suspect that India and China may boost coal imports from Russia, offsetting some of the impact of a formalized EU ban on Russian coal imports,” Vivek Dhar, director of mining and energy commodities research at the Commonwealth Bank of Australia told media.

Last week, India’s steel minister Ramchandra Prasad Singh said that the country is looking to double imports of Russian coking coal, a vital ingredient for steel-making. Singh added that India had imported 4.5 million tons but did not indicate the period he was referring to.

Coal accounts for nearly 70% of India’s electricity generation, according to the International Energy Agency’s 2021 outlook. The nation is ranked as the world’s second-biggest consumer and importer of coal, after China. Last year, India was hit by a coal shortage amid soaring post-pandemic power demand.

Russia is the world’s sixth-largest coal producer. In 2020, 54% of the nation’s coal exports reportedly went to Asia, while about 31% went to Europe.

“Despite warnings from the West, India continues to lean into their supply-chain relationship with Russia for natural resources like oil and coal,” Samir N. Kapadia, head of trade at government relations consulting firm Vogel Group explained.

According to the analyst, a currency swap agreement would help the partners “to bypass some of the financing challenges in the market.”

Kriss216:
Useless sanctions from the West.



Russia can never go down.

MangekyoAlt:

Russia will not go down as far as those key countries don't join western sanctions.
Meanwhile, they say whatever doesn't kill you makes you stronger.
Peskov said they are working day and night to stabilize the situation and that they've been preparing for this barrage of sanctions from the west for long now.

God bless Mother Russia

MangekyoAlt:
Boris Johnson a month and a half ago, "Now we will cripple the economy of the Russian Federation"

Vladimir Putin "It is impossible to isolate a large country like Russia"

Na now I dey understand Wetin putin talk here sef When Putin said this, he wasn't talking aboit Russia's huge land masses. He was referring to Russia's natural resources since apparently Russia is the country with the most natural resources in the entire world
https://miningdigital.com/top10/top-10-countries-based-on-natural-resources

https://www.statista.com/statistics/748223/leading-countries-based-on-natural-resource-value/

This means that in dark hours like this, Russia can just start doing bonanza with their unlimited natural resources and customers go line up full everywhere
China has been ramping up import of Russian Oil, gas, coal etc. India said they cannot let this bonanza by the Russians pass them by
Turkey said they will NOT sanction Russia as doing that may complicate the access they currently have to Russian cheap oil, gas and other resources. Japan immediately commented that Tearing off the oil contract they have with Russia is not on the table. South Korea, the so called USA ally too is busy ramping up Russian goods import. Hungary said they are ready to pay in Ruble or any currency russia wants, provided they continue getting that cheap, oil and gas russia showers her customers with OPEC said they cannot afford to lose Russian gas

Meanwhile, to celebrate this invasion, Russia needs to secure one thing in ukraine.
There's a huge, like extremely huge oil reserve in the shores of Crimea. Russia secured that one in 2014. Now, Ukraine's biggest natural resources reserve is located in Donbas, Eastern Ukraine. If Ukraine loses that, they've lost everything. I'm readong now that Russian troops are gathering for a major offensive to capture Donbas and other eastern states in ukraine. If putin can get Donbas, and that sweet untapped oil, Russia wins, Ukraine loses big time

tamdun:

Zelensky is a fool, Ukraine will never be the same after this war and the worst part is the west will not rebuild ukraine

MangekyoAlt:


https://www.rt.com/business/553851-india-russia-coal-imports-sanctions/

MangekyoAlt:
Boris Johnson a month and a half ago, "Now we will cripple the economy of the Russian Federation"

Vladimir Putin "It is impossible to isolate a large country like Russia"

Na now I dey understand Wetin putin talk here sef When Putin said this, he wasn't talking aboit Russia's huge land masses. He was referring to Russia's natural resources since apparently Russia is the country with the most natural resources in the entire world
https://miningdigital.com/top10/top-10-countries-based-on-natural-resources

https://www.statista.com/statistics/748223/leading-countries-based-on-natural-resource-value/

This means that in dark hours like this, Russia can just start doing bonanza with their unlimited natural resources and customers go line up full everywhere
China has been ramping up import of Russian Oil, gas, coal etc. India said they cannot let this bonanza by the Russians pass them by
Turkey said they will NOT sanction Russia as doing that may complicate the access they currently have to Russian cheap oil, gas and other resources. Japan immediately commented that Tearing off the oil contract they have with Russia is not on the table. South Korea, the so called USA ally too is busy ramping up Russian goods import. Hungary said they are ready to pay in Ruble or any currency russia wants, provided they continue getting that cheap, oil and gas russia showers her customers with OPEC said they cannot afford to lose Russian gas

Meanwhile, to celebrate this invasion, Russia needs to secure one thing in ukraine.
There's a huge, like extremely huge oil reserve in the shores of Crimea. Russia secured that one in 2014. Now, Ukraine's biggest natural resources reserve is located in Donbas, Eastern Ukraine. If Ukraine loses that, they've lost everything. I'm readong now that Russian troops are gathering for a major offensive to capture Donbas and other eastern states in ukraine. If putin can get Donbas, and that sweet untapped oil, Russia wins, Ukraine loses big time

tamdun:

Zelensky is a fool, Ukraine will never be the same after this war and the worst part is the west will not rebuild ukraine

olas24u:
Africa will one-day be free from deliberate austerity measures from the imf and the world Bank. Pay for the oil in nzura and stop borrowing Africans papermoney.