AN EU CARBON BORDER TAX AS DETERMINANT OF EXTERNAL ECONOMIC ACTIVITY OF THE RUSSIAN FEDERATION
Author(s): Kutyrev G.I., Apasova А.M.
Rubric: Domestic and foreign trade
Release: 2020-4 (35)
Keywords: EU Carbon Border Tax, environmental agenda, trade barriers, world trade, European Union
Annotation: The paper examines the impact of the environmental agenda on global trade processes, including the area of rulemaking, on the example of the influence of EU Carbon Border Tax on Russian external economic activity. It is suggested that such restrictions become a harbinger of a new global economic reality, since the transition of the rule-making initiative in the field of green economy to European states, which is not formally prohibited by the WTO rules, presents an opportunity for the development of protectionism and the introduction of barriers for goods produced not in accordance with environmental standards. Possible threats to the introduction of the EU carbon tax for Russia, whose industry is characterized by a high level of carbon intensity, are investigated, among which the loss of both European trading partners and Asian markets are noted. The article notes the inevitability of the negative impact of the environmental agenda on the sustainable development of Russia in the short term, as well as the long-term benefits of restructuring the economic model. This study examines the context and possible scenarios for the implementation of the EU Carbon Border Tax and suggests measures to improve energy efficiency and competitiveness of Russian exporters, considering the current context of decarbonization in Russia.
Bibliography: Kutyrev G.I., Apasova А.M. AN EU CARBON BORDER TAX AS DETERMINANT OF EXTERNAL ECONOMIC ACTIVITY OF THE RUSSIAN FEDERATION // Economics and Management. – 2020. – № 4 (35). – С. 58-65. doi: 10.21777/2587-554X-2020-4-58-65