Russia is to consider selling off its forests to logging companies – a move which could earn it up to £106.5bn.
The government’s review on state ownership of the country’s 843 million ha of forest has been criticised by environmental groups who believe it could lead to an ecological catastrophe.
The WWF says Russia has 22% of the earth’s forests and is therefore a large supplier of oxygen, as well as absorbing carbon dioxide.
Existing regulations allow private companies to lease some forested land for up to 49 years. But if a new draft is approved, possibly as early as November, they could buy the land or lease it for up to 99 years.
The government has complained about the levels of illegal logging in the country, estimated to be costing it about £19.5bn every year. Its legal wood exports are only a fraction of that of Finland and Sweden, despite having a far larger forestry area.
