Coal news and updates

Coal producer SUEK joins Russian firms struggling to pay Eurobond coupon

Russian coal producer SUEK has been unable to deliver an interest payment on its 2026 Eurobond due March 15 as the bank that received the funds has not sent them on, the company said on Thursday, adding it was trying to resolve the issue.

Western sanctions imposed on Russia for what Moscow calls "a special military operation" in Ukraine have complicated payments related to Russian government and corporate bonds, with many Russian firms struggling to get transactions completed because foreign banks are wary of - or barred from - doing business with them.

SUEK and fertiliser producer Eurochem were controlled by Russian businessman Andrei Melnichenko until he was sanctioned this month by the European Union among other Russian tycoons over the "operation."

On March 9, Melnichenko resigned as a member of the board and non-executive director at both companies, and withdrew as their beneficiary. Both companies are yet to disclose their new shareholder structure.