Russian Fishermen Face Challenges in Renewing Domestic Fishing Fleet
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The Russian government is considering extending the term for investment quota allocations to domestic fisherman from the current 15 years to 20 years, according to Aleksey Osintsev, Vice President of the Russian Association of Fishing Fleet Owners (AFFO).
Many Russian fishing companies are having difficulty building new vessels on time, which could result in penalties. The proposed extension would give them more time under the state’s investment quota program, while also providing them with additional support amid ongoing economic challenges.
Osintsev says the move is essential since payback periods for...
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