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Newcastle Herald

Business

Ian Kirkwood

Hunter coal on way to Europe as Russian sanctions bite

European Union Russia Europe Hunter ACR European Commission Newcastle

EUROPEAN COLD SHOULDER: The European Commission has announced a ban on buying coal from Russian mines such as this one, as part of Europe's economic retaliation towards Russia for its invasion of Ukraine.

EUROPEAN buyers hamstrung by an 8 billion euro ($11.6 billion) a year ban on Russian coal are looking to the Hunter for replacement cargoes, according to coal industry figures quoted in trade journals.

The April 6 edition of the weekly Australian Coal Report (ACR) said Capesize ships were already en route to Europe from Newcastle as a result of the Ukraine war disrupting Russian coal exports.

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