INSUBCONTINENT EXCLUSIVE:
A joint Russian-Chinese coal project in Siberia is facing difficulties with financing due to Western secondary sanctions on cross-border
payments to Russia, the CEO of Russian metals and renewables giant En+ said Thursday.The United States expanded its secondary sanctions
against Russia in June, giving the Treasury Department the authority to penalize foreign banks that engage in business with Russia.The
and try to speed things up [and solve] all our current problems
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?Never miss the latest news from Russia. PreviewHe added that while the sanctions have caused delays, he considers the situation
Zashulanskoye deposit in 2013
to the Kommersant business daily, a decline in thermal coal prices dampened Chinese companies' interest in such ventures
As a result, the development of the Zashulansky deposit was put on hold until the owners resumed the approval of project documentation in
2021.In 2023, the partners agreed to produce 5 million tons of thermal coal annually by the end of 2027
En+ and China Energy also signed several agreements to jointly develop low-carbon energy projects.In April 2024, En+ announced plans to
These funds will be used for constructing a coal mine, infrastructure, a public railway station, and a highway, as well as for purchasing
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