India’s hunger for coal is growing. As the world shuns Russian goods, India is setting its sights on Russian coal – after already buying up its discounted.
India’s hunger for coal is growing. Even as the world shuns Russian goods, the Asian giant is setting its sights on Russian coal – after already buying up its discounted oil. The European Commission last week proposed banning Russian coal as part of a new round of sanctions against Moscow for its invasion of Ukraine. .
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ICRA said on Monday, cautioning that coal prices are expected to stay elevated throughout the next financial year. The sharp price rise assumes special significance as India’s coal stocks in the run-up .