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August 3, 2023

European sanctions hit Northwest Russia’s timber companies

Compared with last year, the volume of timber harvested and processed by timber companies in Northwest Russia has decreased by 25%-30% this year. These data were corroborated by statistical departments in the Northwest Forestry Development Authority's major regions involved in timber harvesting and processing. Compared with January-May 2022, the production of unprocessed wood in the Leningrad region in January-May decreased by 29.5% (1.1 million cubic meters), sawn timber decreased by 18% (219.7 thousand cubic meters), while wood pellets were down 76.6% (14,000 tonnes). From the perspective of assets, the ...

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