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On August 26, Russian Minister of economic development Maxim Reshetnikov took part in a meeting of the Russian Security Council on ensuring Russia's long-term interests in the context of the introduction of a carbon tax in the EU from 2025.
As Deputy Chairman of the Security Council Dmitry Medvedev said at the meeting, the EU carbon tax is "hidden protectionism under a plausible pretext", which will prevent the access of goods from the Russian Federation to the European market.
"According to the Academy of Sciences, the financial losses of domestic exporters will amount to billions of euros. This figure is still impossible to calculate in full, of course, but we are talking about a very significant loss of income," he said. "Thus, this carbon tax can dramatically increase the competitiveness of products from European countries in relation to other states, including our country. In fact, this is a hidden protectionism, however, under a very plausible pretext, which will interfere with the access of our products to the European Union market," Dmitry Medvedev added.
The authorities should consider measures to support Russian companies that could lose billions of euros in the event of the introduction of a carbon tax in the EU, said the Deputy Chairman of the Security Council.
"This will have very serious consequences for the Russian economy, our basic industries may suffer, and due to such cross-border regulation, consumption of both Russian oil and Russian coal may be significantly reduced," Dmitry Medvedev said.
"We need to think about how to support the most vulnerable enterprises and industries in case such decisions come into force: support both within the country and, perhaps, with measures of external response," the Deputy Chairman of the Security Council stressed.
Earlier, the Head of the Ministry of Economic Development also noted the importance of compliance with existing international agreements of new measures to combat climate change. "Such measures must take into account national conditions and cannot be a means of discrimination or restricting international trade," he said at a meeting with EU Ambassador Markus Ederer on July 15. "We expect the EU to fully comply with its international obligations, including within the WTO framework, when developing the EU's border-correcting carbon mechanism as part of the implementation of the European environmental agreement."