The Ministry of Economic Development assessed the EU project on carbon regulation

The project of cross-border carbon regulation, proposed by the European Commission, in some cases can completely stop trade between Russia and the EU, said the Minister of Economic Development of the Russian Federation Maxim Reshetnikov, RIA Novosti reported on July 24.

“It is obvious that the mechanism will significantly change, and in some cases even stop traditional bilateral trade,” Reshetnikov said at a meeting with German Minister of Economy and Energy Peter Altmeier.

The head of the Ministry of Economic Development explained that the introduction of a tax on the import of certain goods, the production of which can be accompanied by high CO2 emissions, will lead to an increase in the price of raw materials and, consequently, will affect the final cost of finished products both within the EU and outside it.

Reshetnikov recalled the negative impact on the world trade system of the practice of imposing duties on steel and aluminum by the United States. It is noted that the project of the European Commission will deliver the blow, first of all, cement, fertilizers, steel, aluminum, pipe rolling.

As a reminder, on July 14, the European Commission published a draft cross-border carbon regulation. It is proposed by 2026 to introduce a tax on the import of a number of goods in the European Union, the production of which is accompanied by high CO2 emissions.

The main goal of the project is to prevent the risks of "carbon leakage" - the transfer of manufacturing enterprises from the EU to other countries.

Source: https://rossaprimavera.ru