Compromise May Preserve Some Historic Crab Quota Rights in Russia as 15 Year Quotas Auctioned
SEAFOODNEWS.COM by Eugene Gerden January 8, 2018
A raid on grabbing crab quota from existing companies with quota in Russia has been ‘disrupted’, say fisheries officials. A compromise between the Oligarchs seeking to buy quotas and the existing fishing companies who have historic rights appears to be in the making.
At the end of 2017, Putin was asked by a group of oligarchs to abandon the ‘historical principle’ that would give preference in the upcoming 15 year crab quota auctions to those companies that had historically purchased quota in prior auctions, and had fished on that quota for ten years.
For prior auctions, companies have paid a total of around $2 billion for crab quotas, much of which is at risk if the historical principle is overturned.
The plan would be to allow companies with no prior history in the fishery to bid..
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