The EU requested consultations with Russia at the World Trade Organization (WTO) concerning export restrictions placed by Russia on wood products. The export restrictions consist of significantly increased export duties on certain wood products and a drastic reduction in the number of border crossing points through which exports of wood products can take place. The Russian restrictions are highly detrimental to the EU wood processing industry, which relies on exports from Russia, and create significant uncertainty on the global wood market. The EU has repeatedly engaged with Russia since Moscow announced these measures in October 2020, without success. They entered into force in January 2022. The dispute settlement consultations that the EU has requested are the first step in WTO dispute settlement proceedings. If they do not lead to a satisfactory solution, the EU can request that the WTO set up a panel to rule on the matter. More information is available in this press release.
To read the full article by the European Commission, please click here.