Brief by Shorts91 Newsdesk / 06:59am on 29 Feb 2024,Thursday India Global
New US sanctions targeting top Russian coal exporters like SUEK and Mechel are expected to reduce Indian imports of thermal coal from Russia. Historically a minor importer, India increased purchases after Western sanctions were imposed on Moscow. The sanctions also affect Russia's payment system, financial institutions, and energy production. Indian conglomerates like JSW Group and Vedanta were among the biggest importers of Russian coal, but the impact of the new sanctions on trade with Russia remains uncertain. India maintains ties with Moscow but calls for an end to hostilities in Ukraine.
