China Restores Coal Tariffs in Threat to Russian Exporters
- Russia’s sales to China have declined since peaking in June
- Indonesia and Australia are shielded by free trade pacts
Russia has become the no. 2 shipper of coal to China and the long-term aim of the two countries is for annual supply to reach 100 million tons.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China has restored import levies on coal from the beginning of the year, a move that could threaten Russian exporters dependent on the world’s largest market for the fuel.
The tariffs were removed in May 2022 to guard against supply risks after Moscow’s invasion of Ukraine roiled global energy markets. That helped pave the way for record imports last year, which included an increased portion of Russian coal shunned by other buyers. Now, policy has shifted to protecting China’s mining companies from the consequences of a glut after domestic output also rose to an all-time high.