The World Trade Organization (WTO) has declared that the Russian Federation has officially accepted the Agreement on Fisheries Subsidies. The instrument of acceptance from Russia was presented by Ambassador Nikolai Platonov to Director-General Ngozi Okonjo-Iweala, increasing the total number of WTO members who have accepted the agreement to 72.
Adopted at the 12th Ministerial Conference on June 17, 2022, the WTO Agreement on Fisheries Subsidies aims to prohibit harmful fisheries subsidies, which are a significant contributor to global fish stock depletion. According to information available on the Agreement on Fisheries Subsidies webpage provided by WTO, this agreement marks the first achievement of a sustainable development goal target through a multilateral agreement and is also the first WTO agreement with a focus on environmental issues.
In a press release issued by WTO, Okonjo-Iweala stated, "I am pleased to receive Russia's instrument of acceptance of the Agreement on Fisheries Subsidies. Russia's formal acceptance demonstrates leadership and commitment to ocean sustainability. It brings this landmark agreement closer to entry into force and underscores the importance of global cooperation for the benefit of people and planet. I urge the remaining WTO members to also deposit their instruments of acceptance."
In the press release from WTO, Platonov said that he was pleased to deposit Russia's acceptance of the WTO Agreement on Fisheries Subsidies.
"This agreement is essential in terms of preventing and combating unsustainable patterns of marine capture production such as illegal, unreported and unregulated (IUU) fishing activities in unregulated high seas, as well as in overfished stocks. Given that Russia is one of the major sea fishing nations, we hope that our acceptance will also contribute to completion by other members of their domestic procedures so that the treaty can enter into force sooner rather than later. Such a scenario would definitely bring all of us closer to achieving the UN 2030 Agenda and its Sustainable Development Goals," Platonov said.