MOSCOW: The Russian Government has signed the law on denunciation of the fisheries agreement with the United Kingdom. The document was post...
MOSCOW: The Russian Government has signed the law on denunciation of the fisheries agreement with the United Kingdom.
The document was posted on the legal information web portal.
The agreement was made in 1956 between the USSR and the United Kingdom. British fishing boats were allowed fishing in certain areas of the Barents Sea along the Kola Peninsula’s coast. The agreement continued to be in force after the collapse of the USSR because Russia is the successor to the Soviet Union.
The document is predominantly one-sided and does not provide benefits to the Russian side, according to accompanying materials. Considering the termination of the most favored nation trade status for Russia by the United Kingdom in March 2022, denunciation of the document will not result in any serious foreign political and economic consequences for Russia.
The law will come into force in ten days after its publication.
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