Russian Steel Association suggests negotiations with EU on carbon border taxes
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Update time : 2021-08-05 18:05:30
According to the Russian Steel Association, the EU’s Carbon Border Adjustment Mechanism (CBAM) which was planned to be implemented in 2026 will bring risks to the global metallurgical industry.
The association said that the EU’s CBAM is not in line with climate goals as it doesn’t equally treat the object that will be imposed carbon tariffs. Involving the steel industry into the imposition list will bring a great negative impact on industrial development and cause serious imbalances for the market.
The association suggested that officials should start a negotiation with the EU as soon as possible to prevent the interests of exporters of steel products from being harmed by the EU's carbon taxes although it is unclear how much impact will be brought by the carbon border taxes to Russian steel exporters.
