Russia's Prime Minister Putin has announced a delay in the duty raise on exported logs which would most certainly have caused the import of Russian logs to Finland and other important markets to virtually cease.
The duties were planned to increase from 25 to 80 percent as of January 1.
The postponing of the tax increase allows buyers more time to adjust to the new situation, finding alternative sources on the domestic wood market or elsewhere. The increasing taxes have been an important part of the EU-Russia trade negotiations. According to Associated Press, EU Trade Commissioner Catherine Ashton called the decision "a very positive move by Russia and a welcome result" of lengthy negotiations.
Source: Star Tribune/Associated Press