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Turkey is the biggest market for discounted Russian coal

It was stated that after the restrictions put into effect by Europe against coal imports from Russia, the cargoes were directed to Turkey, India, China and Africa and great discounts were applied.

Turkey is the biggest market for discounted Russian coal

Turkey bought coal from Russia for $199 per ton in September. This price is 23 percent cheaper than the same quality coal purchased from Colombia, Turkey's second largest supplier.

The European Union came into force on 10 August with harsh sanctions against Russian coal imports, and Western companies began to stay away from coal imports from Russia. In a new directive published on September 21, it was stated that the sanctions of the union would be avoided from affecting the food and energy security of other countries, and that some products, including coal, could be transported to third countries through transit transit from EU countries and EU companies could serve these transactions.

The Russian officials stated that the discount was made. Russian First Deputy Prime Minister Andrey Belousov made assessments about the difficulties in the Russian coal industry, in his speech at the “Made in Russia” event held in the capital Moscow in late October. Stating that Russia has overcome the crisis calmly thanks to its cheap energy resources, Belousov said, “We apply 50 to 60 percent discounts on coal exports. Our companies are forced to sell coal for about half the market price. However, they still make a profit.” Belousov said that fertilizer exporters are also faced with a similar situation.

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