Putin ordered that a package of aid to coal miners be drawn up “as soon as possible”, said Russian Energy Minister Sergey Civilev. Russian coal companies first lost access to Western markets after the start of the invasion of Ukraine, and in recent months they have faced a sharp drop in demand from friendly countries as well. In the first nine months of this year, coal companies lost 91 billion rubles (20.9 billion crowns), reports The Moscow Times.
Due to financial problems, companies have also reduced mining. In the case of black coal, this meant a decrease in the amount mined by 4.9% and in the case of brown coal by 4.7%. Between January and June of this year, the amount of exported coal fell by 11.4% to 112.6 million tons. A large part of this was due to reduced demand from the main client of Russian miners, China. On the contrary, according to Civilev, it imposed a duty on Russian coal.
Researchers working for the Russian Ministry of Energy already warned at the end of October that the entire Russian coal industry is on the verge of bankruptcy. The State Duma Commission predicts that the industry’s total losses for 2024 will eventually amount to 450 billion rubles (103.1 billion crowns), which corresponds to its total profit for 2020 and 2021.
“The goal has been achieved.” It is a retaliation for the attack by ATACMS missiles, Russia justified the massive attack
War in Ukraine
