Russia’s coal industry has become one of the main economic casualties of Vladimir Putin’s full-scale war in Ukraine, as sanctions, rising costs and weak prices have plunged miners into their worst crisis in more than 30 years.
While cracks are starting to show in many parts of Russia’s wartime economy, the coal industry’s struggles are particularly acute.
The sector racked up losses of Rbs225bn ($2.8bn) in the first seven months of the year, according to Russia’s state statistics agency, double 2024’s total, when it was the country’s worst performing industry. In 2023, the sector generated profits of nearly Rbs375bn ($4.6bn).
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