The financial burden on the winners of recently held crab auctions could cripple companies over the next 15 years.
Russian companies that recently secured new crab quota though the country’s quota auction process are facing a heavy financial burden in the years to come.
“It is difficult to make accurate calculations right now, given a high volatility of the exchange rate, but these figures show a real level of costs that the winners of the crab auction will incur over the next 15 years,” Alexander Duplyakov, head of Russia’s AFECC, told IntraFish.
“Russian Far Eastern crabbing companies are facing very serious financial obligations, and this is amid a challenging market situation and sanctions restrictions,” he said.
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