In the 12 months since the European Union sanctioned Russian coal in the third-quarter of 2022, U.S. coal exports to Europe have increased 22%, adding 5.7 million short tons MMst in a year coal exports to Africa, Australia/Oceania and North America have declined. U.S. coal exports to the European Union are set to continue at pace, with Germany in early October approving a plan to put coal-fired power plants back online until the end of March 2024 in an effort to save natural gas this winter, Reuters reported. On November 1, German Finance Minister Christian Lindner publicly questioned the government’s goal of quitting coal by 2030.

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