The Ministry of Natural Resources estimated the damage to the Russian business from the EU carbon tax at € 3 billion annually

Russian exporting enterprises may lose more than € 3 billion annually due to the introduction of the EU carbon tax on products, the release of which is associated with a large volume of greenhouse gas emissions into the atmosphere, the head of the Ministry of Natural Resources Alexander Kozlov told reporters.

“We must protect Russia's carbon-intensive export potential. Our largest coal, metallurgical, oil refineries and other enterprises are at risk due to the strengthening of international climate regulation. According to preliminary estimates, the negative effect of the EU carbon tax for Russian exporters may exceed € 3 billion per year, ”said Mr. Kozlov (quoted by RIA Novosti).

The minister called the draft law on limiting greenhouse gas emissions and low-carbon development strategies as the basis for changing the economic structure. "Also, mandatory carbon reporting and its state accounting will be launched, an infrastructure for registration and verification of climate projects and trade in carbon units will be formed," the head of the department added.

The European Union intends to introduce a "carbon tax" on imported goods no later than November 2023. It will equate European products with the lowest carbon dioxide (CO2) emissions, and products from other countries that use high-emission technologies. The measure will be applied in support of the Paris Climate Agreement.

Source: https://www.kommersant.ru/