China Shunning Russian Coal With Banks Nervous Over Sanctions

(Bloomberg) — Chinese power plants and steelmakers are looking for alternatives to Russian coal after some domestic banks suggested they avoid purchases due to the mounting sanctions being imposed on Moscow.

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Some state-own firms were sent private client notes by the lenders advising them to halt buying Russian coal as tightening global restrictions could cause “unexpected damage” to China’s importers, according to people with knowledge of the matter who asked…


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