According to foreign media reports, after some pulp and paper enterprises suspended their business in Russia, American international paper is also considering the joint venture with Russian Ilim group.

International paper, which owns 50% of the equity of the joint venture, is considering taking measures against Russia’s Ilim group.

Mark Sutton, CEO of international paper, said at the Bank of America’s global agriculture and Materials Conference held on March 2: “we are actively reassessing international paper’s investment in Ilim with all stakeholders”. Mr. Sutton explained that the situation is changing in many ways every day, whether domestic regulations, foreign regulations or sanctions.