The government has tightened control over foreign investment in fisheries
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Prime Minister Mikhail Mishustin signed a decree to strengthen control over foreign investment in fisheries. The changes concern permits to catch aquatic biological resources, as well as the procedure for the forced termination of the right to fish.
According to press release government, among the innovations:
- it is prohibited to issue permits for the fishing of aquatic biological resources to Russian companies controlled by foreign investors if, during the establishment of control, there was a violation identified by the Federal Antimonopoly Service regarding the purchase of more than 35% of the rights to extract aquatic biological resources;
- The fact that a Russian company is part of a group of legal entities controlled by a foreign investor has been added to the list of grounds for the forced termination of fishing rights (termination of a contract).
After last year’s collapse in Russian fish imports, volumes began to recover by summer. In January-July, 345 thousand tons of products were imported, which is 23% more year-on-year. About a quarter of the volume came from the Faroe Islands, which remain a major exporter on the Russian market.
Details – in the material “Kommersant” “The fish came from the Faroe Islands”.
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