South Korea Boosts Russian Coal Purchases in 2026

South Korea raised coal imports from Russia in the first eight months of 2026, Finland-based energy think tank Centre for Research on Energy and Clear Air (CREA) said.CREA’s September report on Russian fossil fuels, initially published on Oct. 16, said Seoul’s Russian coal purchases reached 18 million metric tons from January to August, up 34% from the same period in 2025 and 19% from 2021, based on South Korean customs data.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official.It added that Suek, a Russian coal company under sanctions, appears to be a major supplier.The think tank said Russia overtook Indonesia as South Korea’s second-largest coal supplier, behind Australia, which supplied 34% of the country’s coal needs.“Most of it is burned in power stations run by state-owned KEPCO and its generating companies, which bought 73% of South Korea’s Russian thermal coal between February 2022 and May 2026,” CREA analyst Luke Wickenden told Kyiv Post.South Korea ranks fourth in Russian coal purchases based on 2026 data, after China, India, and Turkey, the CREA report shows.More coal to make up losses in nuclear generationCREA attributed the increase to South Korea’s reduced nuclear energy production, along with the expiry of its 40-year reactor operating licenses.“Coal-fired power generation in South Korea rose 18% between January and July 2026 compared with the same period in 2025 (from 87 TWh [terawatt hours] to 102 TWh), while nuclear generation fell 14% over the same period (from 114 TWh to 98 TWh), according to Ember data,” the report says. 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The think tank added that the drop in nuclear power output roughly matched the increase in coal-fired generation.“Total electricity generation was unchanged, and the 15 TWh increase in coal generation is close to the 16.5 TWh fall in nuclear,” CREA wrote.How much did Russia earn from South Korea’s coal purchases?South Korea paid €299 million ($333 million) to Russian coal suppliers in August 2026, according the latest available monthly data, Wickenden told Kyiv Post.From January to August, the amount also jumped 44% from €1.2 billion ($1.3 billion) to €1.7 billion ($1.9 billion) compared to the same period in 2025, though he added that the fees also include shipping, and not everything went to Russian suppliers.“According to customs data, South Korea paid an average of €109 ($121) per tonne for Russian coal in July 2026, up from €86 ($96) in January 2026. Benchmark prices support this,” Wickenden said.But he also noted that Asian coal prices jumped throughout 2026, and South Korea’s Russian coal purchases have also increased since mid-2025.He said the price rose 7% while the volume jumped 34% when comparing the same months in 2026 and 2025.“Newcastle, the main Asian coal benchmark, rose from an average of €92 ($102) a tonne in January 2026 to €114 ($127) in July and €127 ($141) in September,” he said.“Much of that rise came after the strikes on Iran in early March, when Newcastle jumped 16% in two trading days, but South Korea’s imports of Russian coal had already been climbing since mid-2025, as coal replaced nuclear power,” he added.CREA said Russia earned around €58 million ($65 million) per day in September from overall coal exports, down 12% month on month.Major drop in South Korea fuel exports to RussiaSouth Korea’s seaborne oil product exports to Russia also fell from the peak of 95,000 tons in August to only 8,000 tons in September.The 95,000-ton CREA figure differs from the 112,000 tons in August previously reported by The Guardian. Wickenden attributed the difference to revised data from monitoring platform Kpler.Kyiv Post previously reported on questions over South Korea’s fuel shipments. Seoul later said the shipments were not prohibited, while it investigated the trade.Seaborne fuel exports from India to Russia also dropped significantly the same month, with Turkey and Morocco taking the lead as Russia also reduced its seaborne oil products by 44% compared to August.Russia introduced an oil products export ban in mid-2026 after repeated Ukrainian strikes knocked out much of its major refinery capacity, with Kyiv claiming that 43% was offline by July.Russia also introduced nationwide fuel rationing during the crisis and importing fuel, some of it refined overseas from Russian crude, to meet demand that exceeded domestic production.But despite the production drop, Moscow struck a deal with Washington in October to supply diesel to the US and global markets, promising to release up to 3.5 million tons of diesel by year-end in exchange for sanction relief.Kyiv Post has examined the proposed supplies against fuel consumption. Leo Chiu is a journalist and editor based in Eastern Europe since 2015. He has witnessed two presidential elections in Belarus and traveled widely to conflict zones and contested regions, producing reporting that bridges the gap between major developments and local realities.