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Russia to tighten control on foreign participation in domestic fishing by Eugene Gerden December 29,2020   |  Source: Seafood.com News

The Russian government will tighten control on the activities of foreigners in the domestic fish sector, paying particular attention to their affiliation with Russian fish producers. That's according to statements made by representatives of Russian regulators in the field of fishing, as well as some local media reports.

The latest proposals have been put forward by the Russian Federal Antimonopoly Service (FAS) and received approval by the government.

In accordance with the current rules, those fish producers that are controlled by foreigners, cannot conduct fishing activities in the Russian territorial waters. The only exception is made for companies that have received permission from the Russian governmental commission of foreign investment control to harvest in Russian waters. Under the current regulations, the control is recognized as ownership when the investor owns more than 50% of shares in a company. In accordance with the latest proposal of FAS, this threshold will be reduced to 25%.

 

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Theme(s): Fisheries Development and Aquaculture.

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