China to Import More Russian Coal, Lend $6 Billion

China, the world’s biggest coal consumer, agreed to increase imports of the commodity from Russia by two-thirds in return for a $6 billion loan.

Russia will raise shipments to China to at least 15 million metric tons annually in the next five years and more than 20 million tons in the following 20 years, according to a Russian Energy Ministry statement. Deliveries surged 15-fold to 11.8 million tons last year, accounting for about 10 percent of China’s total imports.