Russian forestry giant Segezha struggles as export markets vanish

The logs have stopped flowing from Russia’s St. Petersburg ports into European markets, as sanctions imposed due to the Ukraine war take a heavy toll on the Segezha Group’s global export operations. Exports of Russian biofuels have collapsed, with Segezha Group—the country’s largest forestry company—reporting a sharp decline in wood pellet sales. Shipments have fallen by more than 87% since the conflict began, reflecting the company’s growing reliance on the domestic market. While Russia now accounts for half of Segezha’s biofuel sales, the drop in exports has led to a significant contraction ...