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Russia ready for dialogue with EU on carbon tax, with first meetings held, says envoy

Headlines 11:07 29 Oct, 2021

The EU Carbon Border Adjustment Мechanism covers electricity, the production of iron and steel, aluminum, concrete and fertilizers

Russia ready for dialogue with EU on carbon tax, with first meetings held, says envoy

Russia is ready to foster a dialogue with the European Union on the carbon tax, with first meetings already held, the country’s Permanent Representative to the EU Vladimir Chizhov told a session of the Eurasian Economic Forum held in Verona on October 28-29, Qazet.az reports citing TASS.

"This is a rare event when the European Commission offers a dialogue. We are ready for it, with first meetings already held," he said when asked a respective question.

Meanwhile, the fiscal function is included in this adjustment mechanism already now, the diplomat noted. "Meaning the funds that the EU will receive from others via this tax, will be spent on satisfying the requirements of the EU itself, which is disputable from the WTO viewpoint," he added.

The EU Carbon Border Adjustment Мechanism covers electricity, the production of iron and steel, aluminum, concrete and fertilizers. The tax will be enforced in 2023, though it will not be collected through 2025, instead information will be gathered about the volume of greenhouse gas emissions in the production of imported products. Not long ago the European Union announced plans to introduce the carbon tax not earlier than in 2026, putting supplies of metal products, concrete and fertilizers on the list. Natural gas supplies have not been included in the carbon tax’s perimeter by now.

The 14th Eurasian Economic Forum in Verona is traditionally organized by the Roscongress Foundation, the St. Petersburg International Economic Forum, and the Italian non-profit association Conoscere Eurasia. The event is attended by Russian and Italian business leaders, heads of business associations, governors, politicians, experts, as well as high-ranking representatives of foreign countries.