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Low-carbon development is an inevitable choice to solve environmental problems and achieve sustainability. The European Union set a goal to become carbon neutral by 2050 and then proposed a Carbon Border Adjustment Mechanism (CBAM) to tackle carbon leakage and enhance the effectiveness of European climate policies. The EU is Russia`s largest trading partner, so this mechanism could potentially have a significant impact on the Russian exporters of fossil fuels and carbon-intensive products and the country`s economy...