The attempt at creating a legally binding agreement on forests in Europe has failed after two periods of negotiations. The first period (2011–2015) ended with an unresolved question about what organization should become the Convention's host. During the second negotiation period (2018–2021) the parties arrived at the conclusion to transfer secretarial duties to UNECE. However, eventually, the process was closed due to lack of consensus by the participating parties. Our analysis of the reasons that stood behind the failed agreement has confirmed two key conflicts typical for international forest agreements and occurring at both international and national levels – the tension between commodity and amenity-oriented goals and the question of national interest and relative power. Given the dynamics of the forest policy discussion, new opportunities for a legally binding agreement on forests in Europe may arise in future.