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FinMin Siluanov Warns of Huge Revenue Losses from Renewable Energy Push

RUSSIA

LOCAL NEWS

  • FinMin Siluanov warns of huge revenue losses for Russia from renewable energy push and lower demand for fossil fuels and cited "radical changes to the global energy balance," citing Finance ministry models.
    • Siluanov slammed the EU carbon border tax, saying it was "protectionist" and could cost Russia billions of EUR next year and could affect 40% of Russian Exports.
    • "we need to understand how we'll replace these revenues if the forecasts prove accurate"
  • Russia rejects claims that SU-24 fighters breached international airspace during Baltic flights, saying they were conducted "in strict compliance with international rules without violating other countries' borders."
  • NATO fighters were scrambled to identify targets near the Lithuanian border that had onboard transponders turned off
  • FinMin Siluanov, Nabiullina take part in Group of 20 meeting in Italy
  • US Special Envoy for climate John Kerry to visit Moscow on July 12-15 to discuss means of enhancing global climate ambition
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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