New Delhi: The Russian invasion of Ukraine has created a lot of problems for Russian coal. Now the demand for Russian coal is declining in attractive markets in Europe and Russia now has to turn to some buyers like India. Two officials of the Russian coal reserves said that in european markets where Russian coal is purchased at very high prices, there has been a sharp decline in coal sales in recent times. Russian coal officials, speaking on condition of anonymity, said Germany was still buying Russian coal, but Poland stopped buying Russian coal in April.
European countries will stop buying Russian coal from August as part of sanctions on Russia. Europe can then buy coal from South Africa and Australia for its requirement. Meanwhile, Russia is also looking for a market for its coal. It has got a big market as India, but here Russian coal does not get as much price as it does in european markets. India currently buys very little coal from Russia at a lower price. Turkey remains a big buyer.
Let us know that Russia is among the top three coal exporting countries in the world. However, he seems to be failing to save his big industry from the restrictions. Russia's steel industry is also being affected due to the war. But Russia has not reduced the mining of the palladium metal, which makes it clear that the impact of the war restrictions on the industry has been significantly reduced. Due to the restrictions on coal, Russia has to look for concessional markets . Meanwhile, Japan and South Korea have also planned to ban Russian coal.
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