In a new statement, Pacific Andes International Holdings has confirmed it is in negotiations with the Russian Federation (RSC) over how it will do business in Russian waters in the future.
The statement, issued by Pacific Andes and its two subsidiaries, Pacific Andes Resources Development Limited and China Fishery Group Limited, which the company referred to as “the Group,” comes on the heels of announcements by the RSC that the Chinese company is violating Russian law by operating in Russia.
The company recently acquired Russian fishery fleet assets. The RSC’s anti-monopoly service has indicated Pacific Andes should have had its permission before making the acquisition, but did not seek approval, and is now in violation by operating the vessels.
Pacific Andes, in response, denied any wrongdoing, and said it would review the situation. Yesterday, the company released a statement indicating it was discussing a possible agreement with Russian authorities.
“The Group would like to clarify that it is in discussions with the RSC on exploring various opportunities of possible future cooperation with the RSC in the fishery industry,” the statement read. “If required by applicable laws, the parties will seek all necessary approvals from the relevant authorities.”
The statement went on to caution, “such discussions are preliminary in nature and it cannot be ruled out that no definitive agreement may result.”
