The Effects of CBAM on Russian Exports
In 2021, the EU announced the introduction of a carbon border adjustment mechanism (CBAM) to address the carbon leakage problem, which hampers its efforts to mitigate climate change. One of the CBAM requirements is that if an export party can provide that it paid for used carbon domestically, the corresponding amount will be deducted from the EU importers. After the announcement, Russia, one of th
