Russia intends to appeal the carbon mechanism of the European Union to the WTO

Russia has submitted a request to the World Trade Organization (WTO) for consultations with the European Union (EU) on the issue of the Carbon Boundary Adjustment Mechanism (BCM). This was announced on May 19 on the website of the Ministry of Economic Development of the Russian Federation.

According to the Russian side, such a European mechanism restricts access to the EU market. Thanks to this, the association has the opportunity to maintain its market in an uncompetitive way, shifting problems to other countries.

"The EU's real goals are to protect its industries from bona fide foreign manufacturers and solve the problems of its own inefficiency. The EU is trying to impose standards on the whole world that are beneficial only to Brussels," said Maxim Reshetnikov, the head of the ministry.

According to him, the PCUM does not contribute to progress in the fight against climate change, it only helps to transfer the EU's problems to others. He added that the mechanism takes away the limited resources of states, preventing them from developing.

Forbidden spot: The European Parliament will support the abandonment of Russian gas from 2027

The new sanctions will hit the economies of the Union countries and ordinary consumers.

Igor Yushkov, an expert and lecturer at the Financial University under the Government of the Russian Federation, reported on May 12 that Russian gas retains a competitive advantage in the global market, despite the sanctions pressure. China and Central Asian countries have become the main export destinations, and supplies may increase significantly in the future.