Official forecasts low revenues from quotas on greenhouse gas emissions

Russia cannot count on receiving large revenues from selling quotas on greenhouse gas emissions, head of the Russian Roshydromet meteorological agency Alexander Bedritsky announced at an Internet press conference organized by RBC today. He noted that the USA had been the potential buyer of such quotas from Russia, however, the new US administration decided to withdraw from the Kyoto treaty. The European Union will not purchase these quotas from Russia either, the official noted. He explained that the EU would meet requirements of the Kyoto treaty with the help of new EU members - East European countries, which did not have as much greenhouse gas emissions as they were allowed to. The only country that may need quotas for the emission of 6-7m tons, according to Bedritsky, is Japan. In other words, the sales of quotas for greenhouse gas emissions will not bring significant revenues to Russia. Moreover, the sales of these quotas may restrict Russia's economic growth, the official concluded.

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