Russian timber exports fell by over 20% in Q1 2023 as EU sanctions take effect

Posted on June 2, 2023   |  

In Q1 2023, the overseas sales of Russian timber fell by over 20% to 4.5 million m³, due to imposed EU sanctions on Russia following after military operation in Ukraine.

The United States, Japan, and South Korea also declined their Russian imports of wood products in the same period, posing challenges for Russia’s timber industry and its export sector as a whole.