The Russian forestry sector practically no longer exists, says analyst

The Russian forest industry has largely collapsed under the weight of international sanctions, with little sign that Western wood imports will resume, according to industry analysts. However, President Vladimir Putin remains optimistic about the sector’s future, announcing new investments aimed at revitalization. Kari Kangas, portfolio manager at United Bankers, told Swedish business daily Dagens Industri that Russia's forest industry has "practically disappeared," particularly in the northwest, where wood processing capacity has sharply declined. Activity continues in Siberia, though much of it is now dominated by Chinese companies. Kangas noted that even if geopolitical conditions improve, the Finnish ...