Search Results for: sanctions

(WRI Market Insights) – Russian Sanctions: Sanctions against Russian exports will permanently alter the global trade of forest products. Lumber trade flows changed almost instantly when Russia invaded Ukraine in late February. Trade sanctions and restrictions in financial transactions by Europe, North America, and major markets in Asia halted shipments from Russia and Belarus. In[…]

According to Justice for Myanmar, U.S. companies imported nearly 1,600 metric tons of teak between February and December of last year reports Sebastian Strangio, The Diplomat. American companies continue to import teakwood from military-ruled Myanmar in apparent violation of U.S. sanctions, an advocacy group said in a report released yesterday. Justice for Myanmar (JFM), a Myanmar-based human rights group, found[…]

Ponsse has decided to divest its operations in Russia. The divestment of all shares in OOO Ponsse, Ponsse Group’s subsidiary providing PONSSE services in Russia and Belarus, is currently being negotiated. “We have been looking for a solution to the challenging situation regarding operations in Russia. We have decided to divest our operations in Russia[…]

Recent Statement John Deere suspends shipments to Russia – John Deere is deeply saddened by the significant escalation of events in Ukraine. The safety, welfare, and well-being of our employees in the region remains our top priority, and we continue to support and maintain close communication with our affected teams, providing necessary resources when possible. Our[…]

Stora Enso has entered into an agreement to divest its two sawmills in Russia. The Company’s Nebolchi and Impilahti sawmills will be divested to local management. In addition, the divestment includes Stora Enso’s Russian forest operation which through its harvesting supplies wood to the sawmills. Stora Enso’s assessment is that due to the uncertainties in[…]

Construction equipment manufacturers are joining the surge of companies shutting down their operations in Russia. Caterpillar, Hitachi Construction Machinery, Komatsu and JCB have all announced decisions to suspend operations in the country until further notice. In a statement, Caterpillar announced it’s suspending manufacturing in Russia. “Operations in Russia have become increasingly challenging, including supply chain disruptions and sanctions, and we[…]

Russia’s invasion of Ukraine is likely to impact global trade in the coming months. Increased sanctions against trading with Russia and difficulty with financial transactions will probably interrupt and re-direct shipments of forest products throughout the world. As a result, trade with Russia will likely decline, impacting long-established international trade flows of forest products. Countries[…]

Ponsse Plc has decided today to discontinue temporarily all export operations to Russia and Belarus for both PONSSE forest machines and their spare parts. Also the Ponsse Group’s Russian subsidiary OOO Ponsse is discontinues temporarily its local spare parts and service operations. Sales in Russia and Belarus account for about 20 percent of the company’s[…]

US Softwood Lumber Production Improves in January-February 2020 Compared to One-Year-Ago For the first two months of 2020 softwood lumber production in the US continued improvements compared to one-year-ago, to increase even more, says the latest issue of the Western Wood Products Association’s monthly Lumber Track. For January and February 2020 US lumber production volume increased by[…]

Recent allegations made by Greenpeace that Danzer Group evaded paying taxes in the Republic of Congo and the Democratic Republic of Congo are totally without foundation, the company, the world’s largest manufacturer of hardwood veneers, says. “They are an absurd, populist gimmick designed to cloud the current public discussion surrounding tax evasion in a misleading[…]