The European Green Deal: Risks and Opportunities for the EU and Russia

... officials acknowledge that no significant carbon leakages have so far occurred; however, they cannot be ruled out in the future. Russia believes that exporters from other countries will hardly be able to compete once the tax is introduced. Like the EU, Russia presumes that the BCT is an additional source of revenue for the European treasury amid the crisis brought about by the pandemic as well as as a way to cover the significant expenses involved in implementing the new deal. From Russia’s standpoint, one of the “unfair” ...