Much of this trade could come to an end next year when a new law proposed by Russia’s President Vladimir Putin will ban the exportation of softwood logs and high-value hardwood logs.

To encourage domestic processing of Russian timber, Putin also wants to implement a government program of subsidized loans for investing in wood processing facilities.

In 2018, the Russian government continued to implement policy to reduce the exports of raw wood and stimulate internal consumption of timber industry products.

Sanctions on Russia and the fall in oil prices by over 50 percent in the world market have shaken Russian financial institutions, changing the outlook for production and exports of forest products in 2015.