Posted on

EU Carbon Tax May Cost Russian Exporters 1.1 Billion Euros per Year



Share

According to the RBC news website, the European Union’s planned carbon border tax may cost Russian exporters with a significant carbon footprint at least 1.1 billion euros per year, the largest penalty of any country.
The border fee, suggested as part of the EU’s grand goals to combat climate change and become the first carbon-neutral continent by 2050, would be charged on nations who do not take similarly dramatic efforts to reduce their own emissions. It would be brought in gradually beginning in 2026 and reaching full effect in 2035.

According to RBC’s calculations, Russia will likely pay more taxes to …

Read More