Indian coal imports from Russia reach two year high Media
The growth was primarily driven by flexible pricing and the availability of high-quality coal from Russian exporters
India increased its imports of Russian thermal coal to a two-year high of 1.3 million tons in May, business daily Kommersant reported on Friday.
The growth was primarily driven by flexible pricing and high-quality coal from Russian exporters, the report said, adding that Russia now accounts for 7.5% of India's coal imports. India, which imported 9.8 million tons of Indonesian coal in May, is now looking to increase its imports of higher-grade Russian coal.
The South Asian nation's total thermal coal imports rose by 10% in May to 17.4 million tons, the highest level since June 2024, Kommersant reported, citing data from BigMint.
Favorable market conditions have prompted India to reduce its imports of lower-calorific-value Indonesian coal in favour of higher-grade Russian coal, which is offered at competitive prices, Nariman Taiketayev, Director of the Corporate Ratings Group at National Credit Ratings told the daily.
Russian suppliers are also generally more amenable to flexible pricing and India's future demand for coal will depend on a combination of price dynamics and weather-related factors, he added. Evgeny Grachev, director of the Russian Centre for Price Indices, believes that Russian coal exporters most likely increased volumes of exports to India within the bounds of existing contracts.
He told Kommersant that the early onset of the rainy season will increase hydropower generation in India and "put pressure on thermal generation and coal consumption." India, which is dependent on coal for 70% of its electricity needs, announced a record coal production of 1.04 billion tons in March. Coal Minister G. Kishan Reddy has said that production should reach about 1.53 billion tons by 2030.
(RT.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Coal imports from Russia highest in two years in May: Report
India, one of the key buyers of Russian thermal coal , increased its imports from Russia in May to the highest level in two years, business daily Kommersant reported on Friday. The Russian thermal coal deliveries to India rose by 52 per cent in May 2025 compared to April, reaching a two-year high of 1.3 million metric tons, reported Kommersant quoting a business review by the Russian Centre for Price Indices (CCI). Records reveal since June 2023, monthly exports from Russia have not exceeded 1 million tons. Analysts interviewed by the Daily attribute this trend to the flexible pricing strategies adopted by Russian coal exporters, as well as the quality of the fuel itself. While a significant increase in Russia's market share in India is unlikely due to rising domestic production and the high cost of logistics. However, maintaining current shipment levels is entirely feasible, it said, voicing the opinion of experts. India's total thermal coal imports in May increased seasonally by 10 per cent month-over-month to 17.4 million tons, the highest level since June 2024, the report said citing data from BigMint. Russia accounted for approximately 7.5 per cent of India's total coal purchases. Indonesia remained the country's top supplier, expanding shipments by 16 per cent over the previous month to 9.8 million tons. Indian coal imports from South Africa remained at April level of 3.4 million tons, while rose by 43 per cent from the US to 2 million metric tons. Russian coal exporters most likely increased volumes within the bounds of existing contracts, Director of the RF Centre for Price Indices (CCI) Evgeny Grachev believes. "In India, the monsoon season began earlier this year, which means hydropower generation will put pressure on thermal generation and coal consumption," Grachev noted. According to Nariman Taiketayev, Director of the Corporate Ratings Group at National Credit Ratings (NCR), favourable market conditions prompted India to reduce its imports of lower-calorific-value Indonesian coal in favour of higher-grade Russian coal, which is offered at competitive prices. Russian suppliers, he added, are generally more amenable to flexible pricing. He also emphasised that India's future demand for coal will depend on a combination of price dynamics and weather-related factors. However, a stronger rouble and volatility in Iran could dampen the spirit of Russian coal exporters, who were already hit by uncertainty during the 12-day Israel-Iran war. PTI
Time of India
2 hours ago
- Time of India
Serbia's NIS receives further sanctions reprieve from US
Serbia's largest energy producer was spared sanctions by the United States for another month on Friday, extending an early reprieve for the majority Russian-owned firm. NIS, which operates the country's only oil refinery, said in a statement to AFP that the US government had agreed to delay sanctions - first announced in January as part of Washington's crackdown on the Russian energy sector. "The US Department of the Treasury has issued a new special license postponing the full implementation of sanctions," NIS said. Majority owned by energy giant Gazprom, the company has now managed to negotiate four extensions to avoid a broad package of sanctions originally due to begin in February. The sanctions are now due to come into effect on July 29, NIS said. If implemented, these sanctions would require the complete withdrawal of Russian interests and the sale of their shares -- or nationalisation. Introduced by former US president Joe Biden, the measure was aimed at throttling the flow of profits from the lucrative sector to Moscow following its invasion of Ukraine. Serbia has maintained a close relationship with Russia since the invasion and refuses to impose sanctions, unlike the European Union that it hopes to join. Serbia relies heavily on Russian gas supplies, provided by NIS. The contract between Belgrade and Moscow, signed in spring 2022, was due to expire at the end of May. It has been extended until the end of September.
Time of India
2 hours ago
- Time of India
Zelenskyy calls for restricting supply of AI models suitable for military use to Russia
Academy Empower your mind, elevate your skills Ukrainian President Volodymyr Zelenskyy has emphasised the need to impose restrictions on the supply of ready-made artificial intelligence (AI) models suitable for military use; also, tools and services for training AI, including cloud-based solutions; high-performance computing equipment, as well as specialized data sets, including commercial satellite imagery to addressing the Fair Play Conference on Friday, Zelenskyy called for the creation of a new international platform for controlling the export of dual-use goods, which he stressed would not only help Ukraine defend itself against Russia but also indirectly against its "accomplices," such as the regimes in North Korea and said, "We must already be working to ensure that cutting-edge technologies - particularly in the field of artificial intelligence - are prioritised in export control policies by partner states, as AI is increasingly being integrated into weaponry. It is necessary to immediately impose restrictions on the supply to Russia of ready-made artificial intelligence models suitable for military use; also, tools and services for training AI, including cloud-based solutions; high-performance computing equipment, as well as specialised data sets, including commercial satellite imagery.""Therefore, our sanctions must be highly specific in each area and as up-to-date as possible. A new international platform for controlling the export of dual-use goods must be established, which should help us not only to defend ourselves directly against Russia, but also indirectly against its accomplices, such as the regimes in Pyongyang and Tehran. I would like to specifically acknowledge the work of everyone involved in limiting Russia's earnings from energy resources," he emphasised that Russian missiles, drones and all other military equipment on the battlefield, finances, their tech companies and communications rely on how Russia trades with the world, how Russia sells oil and other goods and imports technologies. He stated that Russia's weeapon manufacturing relies on access to modern machine said, "Russian missiles, drones, nearly all the equipment on the battlefield that is actually effective, Russian finances, their tech companies and communications - all of this depends on how Russia trades with the world, how Russia sells oil and other goods, and imports technologies, equipment, and components. Russian weapons production directly depends on access to modern machine tools. Russian missiles and drones are made up of dozens of critical components that they import from other countries through various schemes. The Russian budget is critically dependent on oil and gas revenues."Zelenskyy stressed that the Russian economy and oligarchs cannot function without financial ties to global jurisdictions. He called for ending ties with Russia as long as it continues to have conflict with said, " The Russian economy and Russian oligarchs cannot function properly without financial ties to global jurisdictions. And no less important are the personal assets of Putin's so-called 'elite' - all those murderers and their accomplices. They love money. They love their life of luxury. They hoard stolen wealth, want a good education for their children, particularly in Europe, and need proper healthcare. The longer Russia wages war, the less of the "proper" remains in Russia.""It is precisely the so-called 'Putin's elite' that understands this very well - and desperately wants the West not only to avoid introducing new sanctions, but also to ease all the existing ones. That is why our common task is clear: as long as Russia invests in this war, the entire world must remain as closed to them as possible. This is about security - ours and yours - and about basic human justice. And it is exactly what we must ensure through sanctions regimes - both ours and those of our partners," he noted that even Western countries continue to supply Russia with equipment and critical components. According to him, Ukrainian experts have already identified hundreds of types of various components found in Russian drones and missiles. He called for imposing more pressure on every action that helps Russia to maintain its further stated, "Just over the past year, deliveries of machine tools to military-industrial facilities in Russia have been recorded from at least 12 countries - including China and Taiwan, South Korea, Japan, France, Germany, Italy, Turkiye, and the United States. There is also information about supply contracts already planned for the upcoming year, 2026. All of this must be stopped. Absolutely. Further pressure is also needed on every actor in the world who helps Russia maintain its exports, who helps it transport oil, or find ways to circumvent financial restrictions."
