NEWS

Plans to cut down Ukrainian forests were outlined in a letter written by Russian Defense Minister Sergei Shoigu. He stated that timber that is not used for the needs of the Armed Forces of the Russian Federation should be sold and the proceeds used to fund the occupying army.

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The Forest Stewardship Council confirmed that it has suspended trading certificates from Russia and Belarus, per its provision that "the forest sector is not associated with violent armed conflict, including that which threatens national or regional security and/or is linked to military control."

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Experts predict that ocean shipping rates could double or triple due to the Russian invasion of Ukraine. Shipping rates could surge from $10,000 per forty-foot container to $30,000, while air freight rates might spike even higher.

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Russia's Ministry of Industry and Trade proposed introducing a ban on the export of birch wood, plywood logs, and fuel chips to "unfriendly countries" by the end of 2022.

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7seasgroupusa.com: Russia plans to ban on wood exports to U.S. and EU until the end of 2022

A recent analysis shows that powerful industry barons connected with President Vladimir Putin are behind Russia's largest logging companies and exporters of wood products. These oligarchs include Russia's richest man, a former member of Russia's lower house of parliament, and the owner of the Chelsea Football Club, Roman Abramovich.

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