According to data released by the Russian General Administration of Customs on Saturday, Russia sold 7.42 million tons of coal to China last month.

That is the highest monthly export level since such statistics were registered in 2017. In June, China purchased 6.12 million tons in June.

Western buyers eschewed coal shipments from Russia due to a pending EU ban on Russian coal which took effect August 11th. The ban is part of a sanctions package enacted over Russia’s military operation in Ukraine.

The sanctions thus far have severely driven up energy prices in Europe, but created a boon in Asia, particularly in China and India, where discounted Russian coal and crude oil is being bought in bulk, fueling the economies of the region. Russian thermal coal with a heating value of 5,500 kilocalories was selling for $150 per ton in July, while at Australia’s Newcastle port, similar quality coal was priced at $210 per ton.

China is the largest buyer of Russian coal, buying over 50 million tons worth $7.4 billion last year. Russia supplied approximately 15% of China’s coal imports over that period, and was the second largest supplier behind Indonesia.

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