Russia’s forestry crisis deepens as Siberian timber giant files for bankruptcy

Tobol Timber, one of Siberia’s largest timber companies, is facing bankruptcy after Russia’s Federal Tax Service filed a claim with a regional arbitration court over millions of rubles in unpaid taxes. The company’s bank accounts were frozen on September 12, highlighting the mounting financial pressures on the Russian forestry sector amid Western sanctions. Founded in 2018, Tobol specializes in sawn and planed timber. The company has reported losses in six of its seven years, with profitability achieved only in 2021. In 2024, revenue fell 15.5% to 123 million rubles (approximately $1.5 million), while losses ...