The European Union introduced a ban on the import of forest products from Russia in April 2022 as part of the fifth package of sanctions due to the war against Ukraine.
In 2024, Russian producers will sell about 20.7 million cubic meters of lumber abroad, or 32% less than what was exported in 2021. This follows from the calculations of the consulting company Strategy Partners, reports The Moscow Times.
So, compared to last year, the export will decrease by 1 million cubic meters (it was 21.7 million). This is due, in particular, to the decrease in supplies to China, which, after the ban on imports to EU countries, became the main buyer of lumber from Russia. In January-August, Russian producers supplied 7.8 million cubic meters of lumber to the Chinese market, down 2% year-on-year.
Uzbekistan remains the second largest importer of Russian lumber.
The third main market is the countries of the Eurasian Economic Union (EAEU; Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia). Türkiye follows them.
Despite the fact that shipments to CIS and MENA countries are gradually increasing, the dynamics of Russian exports is determined by demand and prices in the Chinese market, analysts note. At the same time, supplies are greatly affected by logistical difficulties and restrictions on bank settlement transactions with importers.
The EU introduced a ban on the import of forest products from Russia in April 2022.
In Russia, the volume of exports of Russian timber products affected by EU sanctions is estimated at $6 billion. In particular, in 2021, “unfriendly” countries accounted for 45.8% of the total volume of exports of Russian forest products, of which 75%. was exported to European countries, and about 9% – to the USA. Forest product shipments exceeded $17.5 billion in 2021.
Earlier it became known that the EU initially planned to introduce a general sanctions regime, but ultimately decided to focus on the hybrid threat from the Russian Federation. There are no specific names on the sanctions list yet, but they are planned to be added in the future.
Source: korrespondent
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