Japan forestry agency plans to help companies switching from foreign to domestic lumber amid Russia import ban

Japan's Forestry Agency plans to offer financial support to companies switching from foreign to domestic lumber, following the government's ban on lumber imports from Russia as part of Tokyo's economic sanctions against Moscow for its invasion of Ukraine.
The agency will use 4 billion yen out of reserve funds set aside under the government's fiscal 2022 budget as resources for the subsidies, in this month.
The agency will provide subsidies to cover half of the costs of domestic lumber transportation by land if the travel distance totals 100 kilometers or longer and transport by sea will also be eligible for the subsidies.
The aid program for switching to domestic lumber was included in the government's comprehensive emergency package of measures to address increasing prices, which was adopted late last month.

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