MINIMIZING THE ADVERSE EFFECTS OF CLIMATE RESPONSE MEASURES AS A PATH FOR RUSSIA AND ARAB PETROLEUM COUNTRIES COOPERATION

The issue of “Response Measures” (RMs) is one of the areas of the international climate change deliberations, which deals with the socioeconomic and environmental ramifications of the various effects of the implementation of mitigation policies and actions. Fossil fuels-exporting countries are likely to experience significant negative socio-economic consequences due to mitigation actions and response measures, particularly in those countries with limited access to financing and technology. The aim of this paper is to shed some light on the energy-related RMs and to highlight the expected adverse effects on Russia and Arab petroleum countries, whose economies are highly dependent on income generated from the export of fossil fuels and associated energy-intensive products. The paper also touched upon the ways and means of alleviating the negative effects of such RMs, and how this can be seen as a good channel to enhance the Russian-Arab cooperation in the field of climate change and sustainable development.