Russia’s timber industry, once worth $20 billion per year, still has very strong prospects for growth. That is according to Vladimir Putin, who spoke up about the industry during a government meeting yesterday. “I would like to note that the forestry industry has good prospects and large reserves – I would like to emphasise this: large reserves and good prospects for growth.” Putin commissioned three processing facilities: a particleboard plant in Kaluga, a decorative laminated paper plastic mill in Leningrad and a liquid food packing production floor in Moscow. This comes amid reports from Russia showing that transport companies have already begun lowering their costs—in preparation for Western companies potentially re-entering the market if and when Putin signs a ceasefire with Ukraine—leading to the relaxation of sanctions, which have already crunched more than 30% of Russia’s export markets.