Multiple companies in Russia have either reduced or completely eliminated fines brought against them by the Russian Federal Fisheries Agency (Rosrybolovstvo) after bringing the matters to court.
The Russian government first approved its investment quota program in 2017 and held its first round of auctions in March 2018. At the time, Rosrybolovstvo gave companies a five-year deadline to fulfill their commitment to either build a fishing vessel or a processing facility in exchange for additional fishing quota.
Continued delays at shipyards, as well as delays in constructing facilities, pushed the government to delay that original five-year deadline to seven years, but now, the requirements are coming due and the agency is seeking to fine companies that aren’t complying with some of the requirements ...