The war in Ukraine will tighten lumber markets both short and long term, particularly in Europe but also in China and the US. One immediate impact of the war in Ukraine and the sanctions by Western countries has been a dramatic reduction in exports of forest products from Russia, Belarus, and Ukraine. The total exports from these three countries were valued collectively at 17 billion dollars in 2021. In addition to the sanctions, the Russian forest industry will struggle to source parts, equipment, and finance, which will force even non-sanctioning countries ...
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