According to TASS, Russian Deputy Minister of Industry and Trade Mikhail Yurin said at a recent hearing of the Federation Council that with the triple pressure of intensified sanctions, high interest rates, and a strong ruble, the forestry industry has clearly entered a downward channel.

He said at the meeting: "In 2025, we will see a significant drop in output. However, given the worsening geopolitical situation, we estimate this trend may continue in 2026 and 2027, with a continued downward trajectory."

He said that under a worst-case scenario, national timber output could shrink by 20-30 percent year on year in 2026.

Source: Online