EU announces crisis funding for fisheries and aquaculture
March 29, 2022 By RAStech staff
The European Commission is providing crisis financial support for the fisheries and aquaculture sectors in response to the Russia-Ukraine conflict.
This emergency funding is being enacted according to Article 26 of European Maritime Fisheries and Aquaculture Fund (EMFAF) regulation. The “crisis measures” defined in the regulation, according to the press release, are still in the hands of member states.
“The military aggression of Russia against Ukraine since 24 February 2022 is impacting the whole seafood value chain – fishers, aquaculture farmers, processing and marketing companies – in the European Union,” the European Commission said in a press release.
“The impact includes the disruption of trade flows of key commodities for the fishery and aquaculture sector from Russia and Ukraine that suddenly aggravated the increase of prices of key inputs such as energy and raw materials. In addition, this crisis is likely to have serious consequences on the supply of grain, vegetable oils and white fish from Ukraine and Russia to the Union, leading to a strong increase in fish feed prices.”
Part of the Union fleet has ceased fishing as a result of increasing input costs. Fishing vessels operating in the Black Sea have also suspended its activity as a precautionary measure to the threat of possible military activities in the region.
The expenditure for the measures is eligible if it concerns costs incurred from Feb. 24 to Dec. 31, 2022. Member states can immediately start implementing the measures.
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