Germany will end purchases of Russian coal on August 1 and stop buying Russian oil on December 31, as the country looks to end its energy reliance on Russia following Moscow’s decision to invade Ukraine.
According to the invoice dated June 5 and a source familiar with the matter, HDFC Bank backed cement maker Ultratech s purchase of Russian coal from producer and trader SUEK for 172.7 million yuan ($25.74 million).
India's biggest cement producer, UltraTech Cement, is importing a cargo of Russian coal and paying using Chinese yuan, according to an Indian customs document reviewed by Reuters, a rare payment method that traders say could become more common.