EU Carbon Border Levy May Cost Russia $2.5b/Year, Report Says

July 27, 2021, 10:47 AM

Direct losses of Russian exporters from planned EU carbon border levy may amount to $2.5 billion a year, Institute for Natural Monopolies Research says in new report.

  • At initial stage, ferrous and non-ferrous metallurgy, chemical (nitrogen compounds), nitrogen fertilizers and electric power industries fall under carbon regulation
  • Export cost of products for industries that are subject to carbon regulation will increase by an average of 24%; cement is most vulnerable, may almost double in price
  • Russia ranks first in terms of the value of vulnerable exports to the EU
  • Later, carbon regulation will probably be extended to oil refining, ...

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