February 25, 2024 2:26 am

Russian coal exports to Southeast Asia surge by nearly 50% – data — RT Business News

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Exports of Russian coal to countries in Southeast Asia surged last year after supplies to the EU stopped amid Western sanctions on Moscow, Vedomosti business daily reported on Monday, citing data from energy analytics firm Kpler.

South East Asia-bound deliveries of Russian coal, excluding China, jumped by 47% in 2023 and reached 13.1 million tons, the outlet said.

Countries that ramped up Russian coal imports included Sri Lanka, which boosted purchases by 4.5 times to 1.6 million tons. Vietnam nearly doubled imports to 3.9 million tons, Malaysia, by 18% to 3.8 million tons, and Indonesia, by 1.7 times to 3.4 million tons. Deliveries to Myanmar increased by 10%, reaching 41,000 tons last year, while Bangladesh bought 48,000 tons of coal from Russia, data shows.

Meanwhile, Beijing, currently Moscow’s largest Asian trade partner, has imported 40% of all Russian coal exports since 2022, followed by India (20%) and South Korea (13%), data shows.

According to Chinese customs data, coal imports in December hit a record high of 47.3 million tons following the third-highest volume seen in November, sending total imports in 2023 to an all-time high.

According to Kpler’s preliminary estimates, exports of Russian coal to China totaled 104 million tons last year, representing a nearly 43% increase year-on-year as the two countries deepen energy cooperation.

The boost in Russian coal exports to Asian markets comes as Moscow has diverted its trade flow following the EU’s import ban on the country’s coal imposed in December 2022.

For more stories on economy & finance visit RT’s business section

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Original Source: Russian coal exports to Southeast Asia surge by nearly 50% – data — RT Business News

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