Distinction in travel journalism
Is independent travel journalism important to you?
Click here to keep it independent

19 Oct, 2014

Global War Against Russia Takes New Turn – China Attacks Australian Coal, Favours Russian Coal

By John Helmer, Moscow

Last Thursday the government in Beijing struck a new blow against the domination of global commodity markets by countries allied with the US in the sanctions war against Russia.

The measure announced is a 3% to 6% tariff to be imposed on coal imports to China, commencing on October 15. Australia, the largest supplier of coal to China, will take the largest hit in its trade. Indonesia, the second largest coal supplier to China, will be exempt as a member of the free trade zone between China and the Association of Southeast Asian Nations (ASEAN). Russia and South Africa, the next largest coal exporters to China, are allied with China in the BRICS geopolitical group: they are to benefit, too. Russian officials and industry sources confirm that negotiations on tariff relief are underway in Moscow this week as Prime Minister Dmitry Medvedev met his counterpart, Chinese Prime Minister Li Keqiang.

The Russian sources are tight-lipped about what will happen next. A spokesman for the Ministry of Energy said it can’t comment now because decisions on the coal import tax have “not yet been finalized”.

Read the rest: GLOBAL WAR AGAINST RUSSIA TAKES NEW TURN — CHINA ATTACKS AUSTRALIAN COAL, FAVOURS RUSSIAN COAL | Dances With Bears.