Sanctions against Russian exports to permanently change the trade of forest products

The total volume of softwood lumber that is now doubtful to reach the market in Europe and Asia (outside China) due to sanctions on Russia is 10 million m³.
Europe will be most affected due to sanctions as it imported 8.5 million m³ of softwood lumber from the three countries in 2021 and the lumber import volume accounted for close to 10% of the total consumption on the continent in 2021.
Foreign investors in the Russian forest industry may cancel their presence and financial funding, which can be more challenging to produce and export to any market.
Russian Rouble is down over 20% in 3 weeks since the war, which will make importing equipment and spare parts for logging companies and forest product manufacturers very costly.
The removal of Russian banks from the international payment transaction system SWIFT will problematize payments for exported Russian products and imports of most equipment for the forest industry, from timber harvesters and forwarders to machinery for sawmills, plywood mills, and pulp mills.
Russian manufacturers of pulp, paper, plywood, and lumber can no longer provide PEFC or FSC certified products.

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