#Fishing #subsidies #Russia #accepts #WTO #agreement
Russia on Monday officially accepted the World Trade Organization (WTO) agreement on fisheries subsidies, bringing the agreement closer to entering into force.
Russian Ambassador to the WTO Nikolai Platonov on Monday handed over to its Director General, Ngozi Okonjo-Iweala, the instrument of acceptance of the agreement by Russia, according to the press service of the Russian Ministry of Economic development.
The WTO agreement, adopted by consensus in June 2022, prohibits subsidies for illegal, unreported and unregulated (IUU) fishing, unregulated high seas activities and overexploited stocks, with the aim of protecting biodiversity and mitigate climate change.
Russia is the 72nd WTO member to officially accept the agreement, which will enter into force if two-thirds of the Organization’s members accept its legal instruments.
Sami Nemli With Agency / ECO Inspirations
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