Russia’s federal fishery agency Rosrybolovstvo said the cost for the construction of two medium-tonnage research vessels ordered by the All-Russian Research Institute of Fisheries and Oceanography (VNIRO) has almost tripled to RUB 15.9 billion (€242.8 million/$256.3 million) because of sanctions imposed on Russia following its invasion of Ukraine.

Russian fishermen fear the same scenario is likely to impact the construction of fishing vessels ordered in return for an investment fishing quotas, putting the program in further jeopardy.