Russian Timber Exports Continued to Decline in Q1 2023

Foreign sales of Russian timber have continued to decline in the first quarter of 2023, dropping by over 20 percent to 4.5 million cubic meters, primarily due to EU sanctions imposed on Russia following its military operation in Ukraine. According to Roslesinforg, the Russian forest regulator, the drop is primarily attributable to the sanctions imposed by the European Union (EU) in response to Russia’s military action in Ukraine. Prior to Russia’s military action, the EU had been a significant importer of Russian timber. Other countries such as the United States, Japan, and South Korea also reduced their imports of Russian wood products during the first quarter of 2023. This ongoing decline in foreign sales poses challenges for Russia’s timber industry and its export sector as a whole.