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Russia Joins the WTO Agreement on Fisheries Subsidies

 

Russia has officially joined the World Trade Organization (WTO) Agreement on Fisheries Subsidies. With this move, Russia becomes the 72nd member of the Agreement.

Experts highlight the significant impact this decision may potentially have on fishing practices in the Arctic seas in future.

The WTO Agreement on Fisheries Subsidies, signed during the 12th Ministerial Conference of the World Trade Organization in June 2022, aligns with the United Nations' Sustainable Development Goal. The Agreement aims to prohibit government support for illegal, unreported, and unregulated fishing activities, particularly in the unregulated areas of the High Seas. Moreover, it permits subsidizing fishing activities targeting overfished stocks only under the condition of implementing measures for the sustainable management of aquatic biological resources, facilitating their recovery.

 
26.03.2024