A number of Russian processors are concerned for their futures, after the country's fisheries agency, Rosrybolovstvo, issued RUB 6 billion (€60 million/$63 million) in fines against the operators of new processing plants built over the last several years as part of the country's effort to modernize its seafood industry.
In 2018, Russia launched its so-called state investment quota program, a large-scale program designed to rebuild its fishing and processing sectors. Under the program, companies are granted fishing quotas in exchange for them committing to build new fishing vessels and onshore processing plants.
