On Oct. 22, members of Russia's lower house of Parliament--the Duma--voted 334 to 73 to ratify the Kyoto protocol on climate change. On Oct. 27, Parliament's upper chamber--the Federation Council--approved the protocol with an almost unanimous vote: 139 to 1. The ratification papers go to Russian President Vladimir Putin for his signature. Ninety days after that, the protocol will enter into force.

After the U.S. decided not to ratify the protocol, Russian approval remained the only stumbling block to its entry into force. The treaty requires ratification by nations responsible for 55% of industrialized countries' CO₂ emissions in 1990. To meet that threshold, Russia, with 17% of CO₂ emissions, had to ratify the treaty.

"Russia will benefit from a great wealth transfer as [European Union] funds flow into the country in exchange for rights to Russian CO₂ allowances," says William O'Keefe, president of the board of directors of the George Marshall Institute, a longtime critic of the treaty.

"Because of the President's rejection of the agreement, U.S. businesses won't be at the table having input into the details of the emissions reduction system," says Philip E. Clapp, president of the National Environmental Trust.

The treaty's entry into force will set the stage for new negotiations for a broader agreement on CO₂ reductions.