Russia's timber ban is likely to damage the North American timber market

Russia's ban on the export of forestry products till the end of 2022 will destroy an already condensed North American lumber market as exports from Europe are shifted to meet domestic demand.
U.S. homebuilders are struggling to get lumber and other raw materials to deliver on a massive backlog of projects from 2021 due to high fuel prices and high demand for rail transport abilities and other shipment troubles.
Russia's ban on forestry exports can remove 3% of U.S. lumber imports via Europe, raising the prices for lumber in the United States.
In Europe, 10% of the lumber consumed comes from Russia, but the ban could force Europe to shift its production to domestic markets, which will cut off offshore exports to the U.S. and Canada markets.

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