Russian timber exports witness steep decline as EU sanctions take effect

Foreign sales of Russian timber experienced a further decline in the first quarter of this year, dropping by over 20 percent to 4.5 million cubic meters. The drop is primarily attributed to the sanctions imposed by the European Union (EU) against Russia due to its military operation in Ukraine. Previously, the European Union had been a significant importer of Russian timber, making this decline particularly notable. In 2021, timber exports to European countries, including various byproducts like birch logs, plywood logs, and fuel chips, reached a value of approximately USD504 million, as reported by the Federal Customs Service ...