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Chess Opening Theory/1. e4/1...c6/2. d4/2...d5/3. exd5/3...cxd5
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Caro-Kann Exchange Variation rd nd bd qd kd bd nd rd pd pd pd pd pd pd pd pl pl pl pl pl pl pl rl nl bl ql kl bl nl rl Caro-Kann
Caro-Kann Defence: Exchange Variation
Main line: 4. Bd3
The main line begins with 4. Bd3 (to prevent ...Bf5 while still developing) 4...Nc6 5. c3 Nf6 6. Bf4 Bg4 7. Qb3. This line was once considered harmless before being used by Bobby Fischer to defeat Tigran Petrosian in 1970. The pawn structure resembles a Carlsbad structure with reversed colours, so some of the strategic ideas are analogous to the Queen's Gambit Declined, Exchange Variation (1. d4 d5 2. c4 e6 3. Nc3 Nf6 4. cxd5 exd5).
c4. Panov-Botvinnik Attack
The Panov-Botvinnik attack is a sharp alternative for white, with white often accepting long-term weaknesses for a strong direct attack.
Note that 4. Nc3?! would be a poor move due to the fact that the knight doesn't do much. e4 is poison, while e6 will turn d5 into a rock. Therefore, c4 followed by Nc3 is far better since then, there would be pressure on d5.
Theory table
4. c4 4. Bd3 Nc6 5. c3 Nf6 6. Bf4 Bg4 7. Qb3 +/= 4. Nf3 4. c3 4. Bf4 4. Nc3
References
Caro-Kann
Nunns Chess Openings. 1999. John Nunn (Editor), Graham Burgess, John Emms, Joe Gallagher. 1-8574-4221-0.
Modern Chess Openings: MCO-14. 1999. Nick de Firmian, Walter Korn. 0-8129-3084-3.