PRESIDENT OF RUSSIA SIGNED THE LAW ON ALLOCATING CRAB CATCHING QUOTAS

15-05-2019 | 09:30

The Law came into effect on 12th May 2019. Quotas for 50% of the entire allowed crab catch will be allocated in a competitive and transparent manner – through electronic auctions on the sites approved by the Government*. Any legal entities and individual entrepreneurs that meet the statutory requirements can take part in the auctions.

 

The Law also formalizes the specifics of granting catching crabs quotas for the investment purposes. The right for catch, obtained on the basis of the auction outcome, will be valid for 15 years. Also, within five years after concluding the contract, a project must be performed on building up a facility in the Russian Federation included in the List that will be compiled by the Government.

 

Transferring 50% of crab catching quotas to fair auctions will help new companies enter the market and will bring more efficient users to the industry”, emphasized Head of FAS Igor Artemiev. “It is fine to state the fact: the market of aquatic biological resources: is gradually opening”.

 

* Electronic procedures take place on the electronic sites, where operators are included in the List by No.1447-r Order of the Government of the Russian Federation.



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