Russia’s forest industry reports growth despite sanctions

The impact of sanctions on the Russian forest industry has been minimized, partly due to increased supplies to the domestic market, and the Industry and Trade Ministry assesses the situation as stable but is concerned about the potential hindrance to further industry development due to tight monetary policy, Industry and Trade Minister Anton Alikhanov said on Wednesday at a joint meeting of the ministry and the board of the Union of Timber Manufacturers and Exporters. "The Russian forest industry is successfully implementing an import substitution policy, increasing its market share in Russia. Over the last five years, this share ...