Japan Faces Hike in Palladium Prices for Dentistry Amid Anti-Russian Sanctions, Reports Suggest

MOSCOW (Sputnik) - The Japanese Health Ministry is taking measures in response to surging prices of palladium widely used by dental clinics due to sanctions on Russian imports, Japanese media reported on Wednesday.

Palladium, mainly originating from Russia, is used for crowns and fillings in the dental industry, with Japan's national health insurance covering such expenses.

According to the news agency Kyodo, an advisory panel to the Japanese health minister on Wednesday approved an emergency plan to increase remuneration for dental treatment with palladium-containing fillings in May, in order to ease the burden of rising prices on clinics. Furthermore, remuneration is subject to revision several times a year over fluctuating prices.

The outlet noted that palladium prices began climbing prior to Russia's military operation in Ukraine due to rising global demand for the metal.

Sulfidic serpentintite platinum-palladium ore, Stillwater Mine.

© Wikipedia

The ministry proposed to increase the cost of filling materials covered by national insurance by 8% from the current amount of 3,149 yen (about $25) per gram.

According to Kyodo, Japan imports nearly half, 48.8% of palladium from South Africa, with Russia coming in second, accounting for 34.5%.

Amid a comprehensive sanctions campaign rolled out against Russia and endorsed by Japan, Tokyo ordered its relevant agencies to create measures to cut the country's dependence on Russian imports by seeking stable palladium suppliers elsewhere.