Forbes discusses the cost of REACH compliance to Russian business in Russia ‘forced’ to apply costly EU chemical standards:
Russia will be ‘forced’ to apply EU safety standards in the chemical industry, which will cost Russian companies up to 10 percent of their export earnings, Russian officials said.
The Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), a European Union regulation which greatly tightens standards for the chemical industry, came into force this year.
‘If one of our main strategic economic partners uniting 27 countries introduces such strict legislation, then Russia will be forced to apply these requirements,’ the Russian energy and industry ministry said in a statement.
Although an EU measure, companies from all over the globe will feel the costs of REACH compliance.