Restored Import Tax Hits Russian Coal Sales to China

Russia’s coal sales to China plunged by 22% in January and February compared to the same months last year after China re-imposed an import tax, which makes Russian coal more expensive. The reintroduced import tax on coal doesn’t affect either Australia or Indonesia, two major coal exporters and direct competitors of Russia, because they have free trade agreements with China. Despite the jump in total Chinese coal imports in the first two months of 2024, Russian sales plunged, according to official customs data from China cited by Bloomberg.…