The Russian government has committed up to $12.4 billion over the next eight years to be spent on forestry protection. This will include restoration and improvement of species composition in forests, reducing illegal logging and addressing the black market in timber, improving aerial monitoring, cultivating trees for restoration and creating fire ponds to protect against wildfires. In response to the announcement of the policy, the CEO of the forestry company RusForest called for privatisation of the country’s forest, saying that this would incentivise longer term investment in the management of Russia’s forests. The current model is for companies such as RusForest to manage areas of forest on relatively short-term leases from the government. Russia currently imports more paper than it produces despite having around 700 million hectares of forest.