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Russian Seaborne Coal Exports Effectively Halted by EU Ban

  • Russian miner Suek hasn’t shipped any coal since mid-August
  • Drag on coal shipments may lead to further boost in prices
Coal in freight wagons ahead of shipping near Mezhdurechensk, Russia.

Coal in freight wagons ahead of shipping near Mezhdurechensk, Russia.

Source: Bloomberg

Updated on

Russian coal exports were effectively halted by a European Union ban on entities within the 27-nation bloc servicing shipments of the fuel to anywhere in the world.

Suek JSC, Russia’s largest thermal coal miner, was unable to ship the fuel since mid-August, according to people familiar with the situation who asked not to be named because the matter is private. The insurance and reinsurance markets are dominated by EU, UK and Swiss companies, making it hard for shipowners to find cover, the people said.