Crimea troubles may have big implications for fishing sector

A March 16th referendum saw Crimea voting in favour of becoming Russian citizens, resulting in Ukraine losing the largest part of its fishing capacities. This occurred while the Russian industry is undergoing great reform, as the government is not only fighting to make the fisheries profitable, but also struggling to stabilise the market.

As a result of political upheavals which dominated world news for the best part of this year, 20,000 fishermen in the peninsula suddenly became part of the Russian fishing industry.

Russian President Vladimir Putin signed a decree on 17th March recognising Crimea as a sovereign state, paving the way for it to be absorbed into Russia.

The decree said it had taken into account the March 16 referendum in Crimea, in which officials said 97% of voters backed breaking away from Ukraine.

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The EU and US said the referendum was illegal and imposed sanctions on 21 officials from Russia and Ukraine.

Fisheries

Crimea troubles may have big implications for fishing sector