Amidst Sanctions On Moscow, India To Double Import Of Coking Coal From Russia

India is looking to double its imports of coking coal from Russia, Reuters reports.

Coking coal is an important component in making steel and Moscow is likely to provide competitive prices for it to Indian and Chinese buyers.

That is because western nations are deserting Russia amidst its ongoing war with Ukraine.

“We are moving in the direction of importing coking coal from Russia,” Union Steel Minister RP Singh was quoted in a report by the international news agency.

The cabinet minister revealed that New Delhi had imported 4.5 million tonnes of coking coal but did not reportedly open up on the period of time in which it was bought.

However, Singh did point out that ‘smooth supplies’ of coking coal from Russia have been affected in the current circumstances.

Vessels carrying close to 1.06 million tonnes of coking coal and thermal coal are set to supply the fuel to Indian ports this month.

Russia is the sixth-largest supplier of the two aforementioned components to India. However, this trade could very well see a boost due to a rupee-rouble trading arrangement put together by the two countries in the wake of the sanctions against Russia.