New US sanctions on Moscow are more likely than previous ones to cut Indian imports of thermal coal from Russia because they specifically cite top exporters SUEK and Mechel, three major traders of Russian coal said.
Russia, historically a minor exporter of the fuel to India, began boosting shipments to the south Asian country after Western sanctions against Moscow over its invasion of Ukraine.
The latest US sanctions also include Russia’s payment system, financial institutions and energy production.
“With the new sanctions, I do not expect any of the big Indian companies to buy Russian cargoes,” one major Indian trader told Reuters on the sidelines of the Coaltrans conference in the western Indian state of Goa.
