Taiwan’s energy landscape has undergone significant shifts following global geopolitical developments, particularly since Russia’s full-scale invasion of Ukraine in 2022. Prior to this event, Taiwan Power Company (Taipower) heavily relied on Russian coal imports to meet its energy demands. However, in September 2022, Taipower announced the cessation of Russian coal purchases, marking a strategic pivot in Taiwan’s energy procurement strategy.
Despite Taipower’s decision, private firms in Taiwan have stepped in to fill the gap, leading to a notable 31% increase in coal imports over the past year compared to the previous period. This surge has primarily been fueled by cheaper but lower-quality coal from Russia, contrasting with Taiwan’s usual higher-quality imports from Australia.
Recent reports from the Centre for Research on Energy and Clean Air (CREA), alongside Taiwan-based Environmental Rights Foundation and German-based Ecodefense, highlight Taiwan’s substantial USD 3.5 billion expenditure on Russian coal since the invasion began. Taiwan now ranks as the fifth-largest importer of Russian coal globally.
The imposition of sanctions on Russian fossil fuel exports by the European Union and G7 nations, including coal sanctions from August 2022 onwards, has redirected Russian exports towards new markets. This shift has prompted Russia to adopt competitive pricing strategies to maintain export volumes, despite facing international restrictions.
Alongside coal, Taiwan has also seen a significant uptick in imports of Russian oil products, which have surged by over 200% in the past year alone. This influx, totaling USD 2.9 billion since 2022, has contributed substantial tax revenues to the Kremlin, supporting Russia’s ongoing military activities.
In response to these developments, CREA has called upon all Taiwanese companies to halt their purchases of Russian coal. The organization urges firms to outline clear plans and timelines to international shareholders and investors, aiming to align with global efforts to curb Russian energy dependence amid geopolitical tensions.
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