(Reuters) – Russia’s energy ministry believes Western sanctions over Ukraine could prevent the country from achieving plans to cut carbon emissions by 2050, the Kommersant newspaper said on Thursday.
The ministry has developed a plan to support Russia’s vast energy sector amid the sanctions, including tax cuts and the possibility of dropping dividends, the paper https://www.kommersant.ru/doc/5259768 added.
The energy ministry declined to comment.
Russia approved last year a strategy to reduce carbon emissions that envisages a cut in net greenhouse gas emissions to 80% of 1990 levels and 60% of 2019 levels by 2050.
The paper said that as part of the plan, state-owned power companies would be allowed not to pay dividends, but instead use their 2021 income for investments.
One support measure relates to calculating taxes using the price of the Russian Urals crude oil blend, which is traded at a hefty discount to Brent.
(Reporting by Reuters; Editing by Clarence Fernandez)
