Russia starts revolutionary switch to 10-year quota shares

On 15 August 2008 the Russian Government started collecting applications for 10-year quota shares in the areas subject to international fishery agreements of the Russian Federation, reports www.fishnet-russia.com (www.fishnet.ru) with reference to the Government's Order No. 604 dated 12 August 2008 signed by PM Putin.

The deadline for the applications has been set for 30 September current and the Government will have to decide on 10-year quota share holders within 21 days of the deadline based on the catch history of the last four years.

Respective contracts for share allocation will be made with the successful applicants. Full details of the procedure and progress to be covered in the September issue of the Russian Fish Report.