Russia forecasts coal-sector loss of 324 billion roubles in 2026
In short
Russia's Energy Ministry estimates coal companies will record a loss of 324 billion roubles in 2026, according to reports from Russian Energy Week on October 15. Deputy Energy Minister Dmitry Islamov said losses could fall to 100 billion roubles in 2027, RBC reported.
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Russia's Energy Ministry estimates that coal companies will post a loss of 324 billion roubles in 2026, according to a presentation reported by RIA Novosti and Interfax on October 15. Deputy Energy Minister Dmitry Islamov discussed the industry's financial position at Russian Energy Week in Moscow. RIA described the estimate as a loss before tax, while Interfax called it the sector's net aggregate loss. [ 1 , 2 ]
The ministry's presentation estimated that about 70% of coal companies would be loss-making this year, Interfax reported. It put expected revenue at 1.623 trillion roubles, compared with 1.518 trillion roubles a year earlier. Islamov said several factors affected the sector, including world prices, sanctions, restrictions on payments and movements in the rouble's exchange rate, according to RIA. [ 1 , 2 ]
The reports used different figures for the previous full year. RIA said the ministry presentation put the 2025 loss before tax at 420 billion roubles. Interfax cited Rosstat's figure of 408 billion roubles for the 2025 net aggregate loss. The supplied reports did not explain the difference. Interfax also reported a January-July 2026 loss of 178.2 billion roubles, against 225 billion roubles in the corresponding period a year earlier. [ 1 , 2 ]
Later on October 15, RBC reported Islamov's forecast that the industry's losses could decline more than threefold to 100 billion roubles in 2027 because of favourable price conditions. RIA's later headline said the ministry saw scope for lower losses next year, while TASS reported its expectation of a reduction to 100 billion roubles. [ 3 , 4 , 5 ]
Why it matters
The ministry estimates that about 70% of coal companies will be loss-making in 2026, Interfax reported. Islamov cited global prices, sanctions, payment restrictions and the rouble exchange rate as factors affecting the industry.
Key facts
- The ministry's presentation estimated a 2026 coal-company loss of 324 billion roubles. [ 1 , 2 ]
- About 70% of coal companies are expected to be loss-making in 2026, according to Interfax. [ 2 ]
- The ministry forecast 2026 revenue of 1.623 trillion roubles, compared with 1.518 trillion a year earlier. [ 2 ]
- RBC reported that Islamov expected losses to fall to 100 billion roubles in 2027 amid favourable prices. [ 3 ]
- Islamov cited global prices, sanctions, payment restrictions and exchange-rate movements as industry pressures. [ 1 ]
Confirmed by several sources
Still unclear
- Reports give different 2025 full-year loss figures. RIA cites 420 billion roubles from the ministry's presentation; Interfax cites 408 billion from Rosstat. The documents do not reconcile the figures.