A March 16 referendum saw the citizens of Crimea voting in favor of becoming Russian citizens, resulting in Ukraine losing the largest part of its fishing capacities.
It is noteworthy that the event occurred while the Russian industry is undergoing great reforms, as the government is not only fighting to make the fisheries profitable, but also struggling to stabilize the market, which faces an acute supply deficit due to a rapid increase in exports.
Crimea is the biggest fishing center on the Black Sea.
