POLICY MEMOS

RUSSIAN & THE EUROPEAN GREEN DEAL: WHAT FUTURE?

The European Green Deal is a set of policy initiatives presented by the European Commission with the aim of making Europe climate-neutral by 2050. In pursuit of this policy, the EU plans to reduce fossil fuel consumption and introduce a tax on carbon-intensive goods. Whilst noble in ambition, this initiative carries significant implications for Russia. Russia’s biggest energy clients are part of the European Union, and the new measures decided by the EU are likely to significantly hurt the Russian economy. This policy memo puts forward a suggestion on how to restructure EU-Russia relations along more sustainable lines and in ways that could minimise the impact of this shift on the Russian economy.