The Portuguese pulp and paper manufacturer said the Russian-Ukrainian conflict had “severely aggravated already unstable and unpredictable macroeconomic dynamics”.

“With international sanctions on Russia and high European dependency on their gas supply, the current geopolitical situation has led to a very rapid increase in energy prices, with expectations of further increases,” the firm said. 

“Apart from the direct impact of the energy prices on Navigator's cost structure, the Company is also severely affected by the indirect energy impact in several chemicals and logistic costs.”

The €105 per tonne surcharge will apply to all UWF and packaging products in Europe, Middle East and Africa, and will be effective until further notice from 1 April. In the USA the surcharge is $120/tonne (£92).

The news is the latest in a new round of surcharges from paper manufacturers.