The Russian Government has signed the law on denunciation of the fisheries agreement with the United Kingdom. The document was posted on the legal information web portal.
The agreement was made in 1956 between the USSR and the United Kingdom. According to the agreement, British fishing boats were allowed to fish in certain areas of the Barents Sea along the coast of Russia’s Kola Peninsula.
The document is predominantly one-sided and does not provide benefits to the Russian side. Considering the termination of the most favored nation trade status for Russia by the United Kingdom in March 2022, denunciation of the document will not result in any serious foreign political and economic consequences for Russia.
The law will come into force in ten days after its publication.
