Russia considering carbon pricing from 2028

The Russian Ministry of Economic Development has prepared a draft action plan within the scope of the implementation of the Strategy for Social and Economic Development of the Russian Federation until 2050, which envisages significantly reducing greenhouse gas emissions. The document adopted in 2021 considered the possibility of a carbon tax as a mechanism to impact inefficient carbon-intensive industries. The implementation stages are specified in the prepared action plan. Relevant units must prepare the legal framework and system for tax collection on greenhouse gas emissions by the first quarter of 2028.

It is planned to assess the tax burden on industries and approve targets for cutting greenhouse gas emissions for each segment by the end of this year. The authorities will prepare a concept for pricing emissions next year, the bill itself in 2026 and the necessary infrastructure for collecting the tax in 2027. The proposal of the Ministry of Economic Development is currently under consideration by the relevant ministries.