In March 2025, the Russian Federal Agency for Fishery filed two claims seeking to revoke crab fishing contracts granted under investment quotas in the Barents Sea. The claims are against two companies (Alfa trade LLC and Eta-trade LLC) belonging to the North-West Fishing Consortium (NWFC).

The companies secured investment quotas for crab fishing in the Barents Sea in 2019. Under the contracts with the state, the NWFC had to finance construction of five crab trawlers at Russian shipyards. The construction was commissioned to the Krasnoye Sormovo shipyard. However, the construction deadlines were missed due to sanctions-related restrictions and disruptions in equipment supply.

Our managing partner Konstantin Krasnokutskiy commented on the dispute for the Russian business newspaper Vedomosti: “If the claim is sustained and the companies lose their quotas, the NWFC will suffer significant investment losses.” While the future of the crab trawlers ordered by the NWFC now becomes uncertain, Konstantin emphasized that these vessels were clearly intended for a specific fishing project.

The full text is available at https://www.vedomosti.ru/business/articles/2025/04/25/1106625-szrk-mozhet-lishitsya-krabovih-kvot (in Russian).