Driven into Coal: As the World's Energy Industry Moves Away from Unfriendly Coal, Russia Is Forced to Subsidize This Unprofitable Industry
Asian countries are now the largest buyers of Russian coal. After the US, Australia, UK and, most importantly , the EU imposed an embargo on coal supplies from Russia in 2022, Russian companies redirected them to China and India. At the same time, both India and China have set a goal of achieving carbon neutrality: China plans to become carbon neutral by 2060, and India by 2070. In both countries, renewable generation is rapidly developing alongside coal.