Russia is reportedly preparing to terminate a fishing agreement with the United Kingdom in retaliation for being removed from UK's "most favored nation" trade status last March.
Russia’s Ministry of Foreign Affairs and the Ministry of Agriculture have submitted legislation that would cancel the current agreement and effectively ban UK vessels from fishing in the Barents Sea, according to Russian media outlet Izvestiya.
“The denunciation of the agreement does not cause serious foreign policy and economic consequences for the Russian Federation,” said Russian government authorities.
