Russia is set to kill the Kyoto Protocol once and for all, reports The New York Times. Without Russia and the U.S., the Kyoto goals are completely unobtainable, thus by spurning the treaty, Kyoto is pretty much defunct. Ironically, Russia had the most to gain from Kyoto. With the fall of Soviet Union era industrialism, Russia had already reduced emmissions 30% from 1990 levels and could have sold those credits to other nations at a premium.

"A number of questions have been raised about the link between carbon dioxide and climate change, which do not appear convincing," Mr. Illarionov [a senior Kremlin adviser on economic affairs] said in the interview. "And clearly it sets very serious brakes on economic growth which do not look justified."

Russia has also complained that major polluters like China and India are not even bound by the treaty, giving them an unfair economic advantage. But mostly, experts say, Russia is bothered by its declining financial return from joining the treaty.

So, basically Russia crunched the numbers and discovered that the long term financial hit wasn't worth the short term gain. They could probably make billions up front, but the long term stifling effects on their economy aren't worth it.