Less than two months before the presidential elections, the Biden Administration has accused Russia of meddling in the 2024 US presidential election and broadly boosting the Kremlin’s interests.
It comes as the US Justice Department on Wednesday (Thursday AEST) unsealed charges against two Russian nationals accused of laundering nearly $US10 million ($14.7 million) to pay for a secret foreign influence campaign – and revealed the seizure of several dozen web domains they claimed were used to “covertly spread Russian government propaganda”.
However, despite the breakdown in geopolitical relations and broad sanctions imposed due to the Ukraine War, Russia has emerged as one of the United States’ most important markets for plywood, with traders taking more Russian wood while taking less plywood from other partners.
It comes as Wood Central can now reveal that Russian plywood imports into the United States jumped more than 53% to 19,800 cubic metres for July 2024—with more than 103,600 cubic metres of Russian plywood imported through America’s port system for the first seven months of 2024 alone (up from 89,100 cubic metres last year).
Behind Brazil, Vietnam (America’s fastest-growing import market), Indonesia, Canada, Spain, and Chile, timber importers are turning to Russia to make up shortfalls from China after the Department of Commerce introduced import tariffs, causing prices to spike 85%.
Last month, Wood Central reported that Russia is shaping up (once again) to be a topic that could shape the US election. And whilst President Trump has voiced opposition to the war Ukraine War – Vice President Harris – now the leader in most of the polls – has been vocal in voicing her support for Ukraine, telling NBC News:
“I know the American people feel a sense of moral outrage and a sense of responsibility for our nation to stand with the Ukrainian people around these atrocities.” She also reiterated her support at this year’s Munich Security Conference, telling the conference America was committed to “defend the basic principles of sovereignty and territorial integrity and to stop an imperialist authoritarian from subjugating a free and democratic people”.
“You have made clear that Europe will stand with Ukraine, and I will make clear President Joe Biden and I stand with Ukraine.”
Democratic candidate VIce President Kamala Harris on extending support to Ukraine post the 2024 presidential election.
How America’s timber demand is fueling the war in Ukraine
In April, Wood Central reported that timber accounts for more than 50% of Russian products entering the US, leading ENGOs to speculate that the US reliance on lumber could inadvertently fuel the conflict.
At the time, they said that the Russian military “directly controls an area of forest twice the size of New Jersey,” with the army profiting from the sale of timber transported from Russia through Eurasia.
The United States doubles plywood imports from Vietnam.
In addition, the US continues to rely on Vietnam (and Chinese traders using Vietnamese seaports) for plywood, with more than 473,000 cubic metres of plywood traded from Vietnam—or 17.2% of imports.
According to the US Department of Agriculture, “This increase represents a doubling, with imports rising by 108% compared to the same period last year,” adding that “the total value of these imports surged by 58% to $249 million.”
The rise in Vietnamese and Russian imports comes as China’s plywood exports sank by 15% to 148,300 cubic metres. The world’s largest plywood manufacturer (responsible for 70% of total plywood produced) dropped out of the top 5 importers into the United States.
Plywood imports topped 2.74 million cubic metres for the first six months.
Among the different types of wood species imported, “hardwood dominated with 52% of total plywood supplies, amounting to 1.434 million cubic metres,” according to figures provided to Wood Central: “Softwood accounted for 41% of imports, totalling 1.124 million cubic metres,” while tropical plywood comprised 7% of imports, reaching 182,000 thousand cubic metres.
- To learn more about the global plywood market and its challenges, click on Wood Central’s special feature.
