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EU carbon border tax to cost Russia billions
By EUobserver
Russian importers of CO2-intensive products, such as steel, will pay some €1.9bn in fees by 2035 under the terms of a proposed EU carbon border tax, which might enter into force in 2026, but Chinese ones will pay far less - just €484m, according to a study by think-tanks Sandbag and E3G, Reuters reports. Ukrainian firms would be liable to pay €870m and Turkish ones €824m, the study noted.