Russian timber giants in jeopardy

Russia’s forest products industry is facing a critical downturn, with sector leaders warning of potential shutdowns unless state authorities intervene. Currency fluctuations, reduced domestic demand, and limited export opportunities have combined to put many wood processing and pulp companies in a difficult position. In a letter sent on July 8 to Minister of Industry and Trade Anton Alikhanov, a major industry association representing the pulp and paper sector requested the creation of a crisis response task force. The group urged the ministry to convene an emergency meeting with forestry and processing companies, citing what it called one of ...