20 Oct 2022 13:24

Russian companies forced to export coal at 50%-60% discount, though do remain profitable - Belousov

MOSCOW. Oct 20 (Interfax) - Russian coal companies are forced to export coal at a discount of 50%-60% amid external restrictions, though they remain profitable even under these conditions, First Deputy Prime Minister Andrei Belousov said at the Made in Russia international export forum.

"Thanks to inexpensive energy resources [in Russia], we have been particularly able to weather the current crises rather calmly. We have discounts of 50%-60% on coal, meaning a downward deviation on our contract prices that coal miners conclude. They are forced to sell coal about 50% cheaper than market prices, which is nothing, as it turns out that this is profitable and quite acceptable," Belousov noted.

"The same applies to mineral fertilizers, and there are known discounts for oil that have reached $20-$30 per barrel, and so on," Belousov added.