diff --git a/changelog.d/13129.misc b/changelog.d/13129.misc
new file mode 100644
index 0000000000..4c2dbb7057
--- /dev/null
+++ b/changelog.d/13129.misc
@@ -0,0 +1 @@
+Only one-line SQL statements for logging and tracing.
diff --git a/synapse/storage/database.py b/synapse/storage/database.py
index e8c63cf567..e21ab08515 100644
--- a/synapse/storage/database.py
+++ b/synapse/storage/database.py
@@ -366,10 +366,11 @@ class LoggingTransaction:
         *args: P.args,
         **kwargs: P.kwargs,
     ) -> R:
-        sql = self._make_sql_one_line(sql)
+        # Generate a one-line version of the SQL to better log it.
+        one_line_sql = self._make_sql_one_line(sql)
 
         # TODO(paul): Maybe use 'info' and 'debug' for values?
-        sql_logger.debug("[SQL] {%s} %s", self.name, sql)
+        sql_logger.debug("[SQL] {%s} %s", self.name, one_line_sql)
 
         sql = self.database_engine.convert_param_style(sql)
         if args:
@@ -389,7 +390,7 @@ class LoggingTransaction:
                 "db.query",
                 tags={
                     opentracing.tags.DATABASE_TYPE: "sql",
-                    opentracing.tags.DATABASE_STATEMENT: sql,
+                    opentracing.tags.DATABASE_STATEMENT: one_line_sql,
                 },
             ):
                 return func(sql, *args, **kwargs)