This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/534069-eu-carbon-tax-russia-explanation/
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
| Version 0 | Version 1 |
|---|---|
| Moscow wants EU to justify carbon tax that could cost Russia billions by 2030 – Lavrov | Moscow wants EU to justify carbon tax that could cost Russia billions by 2030 – Lavrov |
| (about 1 month later) | |
| Russia is waiting for an explanation from the European Union regarding the bloc’s carbon border tax, Minister of Foreign Affairs Sergey Lavrov said on Monday. | Russia is waiting for an explanation from the European Union regarding the bloc’s carbon border tax, Minister of Foreign Affairs Sergey Lavrov said on Monday. |
| “We put this question to the EU, asked them to explain themselves. We are waiting for a reaction,” Lavrov said, stating that the ‘carbon tax’ contradicts the rules of the World Trade Organization (WTO). | “We put this question to the EU, asked them to explain themselves. We are waiting for a reaction,” Lavrov said, stating that the ‘carbon tax’ contradicts the rules of the World Trade Organization (WTO). |
| In July, the European Commission (EC) published its draft action plan for the world’s first carbon border tax, covering the import of goods with a high carbon dioxide footprint, like iron and steel (including pipes and rails), aluminum, cement, fertilizers and electricity. | In July, the European Commission (EC) published its draft action plan for the world’s first carbon border tax, covering the import of goods with a high carbon dioxide footprint, like iron and steel (including pipes and rails), aluminum, cement, fertilizers and electricity. |
| The plan, which effectively requires a complete restructuring of the bloc’s economy, is part of the EU’s agenda for the complete elimination of carbon emissions in the bloc by 2050, known as the EU Green Deal. | The plan, which effectively requires a complete restructuring of the bloc’s economy, is part of the EU’s agenda for the complete elimination of carbon emissions in the bloc by 2050, known as the EU Green Deal. |
| The Boston Consulting Group (BCG) recently estimated that the new carbon tax could cost Russia nearly $11.7 billion by 2030 and would mostly target Russia’s steel industry. Given this, BCG experts forecast a significant decrease in the volume of exports of certain categories of goods from Russia to the EU. | The Boston Consulting Group (BCG) recently estimated that the new carbon tax could cost Russia nearly $11.7 billion by 2030 and would mostly target Russia’s steel industry. Given this, BCG experts forecast a significant decrease in the volume of exports of certain categories of goods from Russia to the EU. |
| Russia’s Economy Ministry has been more optimistic, however, estimating the cost of the carbon tax for its export sector at $7.6 billion. Also, Russia recently unveiled plans to boost its carbon-neutral hydrogen industry, which could help maintain its export positions in the European market in the future. | Russia’s Economy Ministry has been more optimistic, however, estimating the cost of the carbon tax for its export sector at $7.6 billion. Also, Russia recently unveiled plans to boost its carbon-neutral hydrogen industry, which could help maintain its export positions in the European market in the future. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
Previous version
1
Next version