Russia’s invasion of Ukraine on February 24th came as a shock to many in Europe and around the world. Beyond the human cost of the war, it’s having profound impacts on global markets – including markets for forest products. We see the conflict impacting markets for forest products in three main ways:  1. Trade restrictions. Western countries have introduced trade sanctions against Russia and Belarus for both the import and export of many products. Russia and Belarus are in turn retaliating with their own sanctions. Meanwhile, Ukraine’s production and export of forest products will fall dramatically ...