The company has developed plans to reduce production volumes. As previously reported, on 3 March UPM announced the cessation of deliveries to Russia (1). This decision was made in consultation with UPM’s local employees, customers and shareholders, and in accordance with Russian legislation. UPM continues to honour its commitments to its employees in Russia and is monitoring the sanctions situation in order to respond to any potential changes. The decision is consistent with the position expressed by representatives of the major certification systems — namely PEFC and FSC — which have excluded Russian and Belarusian timber and timber products from their certification systems.
1. https://www.upm.com/about-us/for-media/releases/2022/03/upm-will-cease-deliveries-to-russia/