The European administration in Brussels had in fact decided to subject CO2 quotas to VAT, because of their proximity to raw materials, such as wheat, oil or nickel, for example.

But these raw materials are traded by well-known industrial players, who are not likely to disappear overnight without leaving an address. It is therefore practically impossible to negotiate the delivery of cargoes of wheat or petroleum products without being well-introduced. Usually, only industrialists or financial institutions have the right to intervene on an organized market. […]

The European administration in Brussels had in fact decided to subject CO2 quotas to VAT, because of their proximity to raw materials, such as wheat, oil or nickel, for example.