Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • fx
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home»Fisheries

    Crisis mechanism to financially support the fishery and aquaculture sectors

    eub2By eub228 March 2022Updated:9 July 2024 Fisheries No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email
    — last modified 28 March 2022

    The European Commission decided on 24 March to activate new crisis measures to support the fishery and aquaculture sectors in the context of Russia’s invasion of Ukraine.


    Advertisement


    Why is the Commission activating crisis measures?

    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 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.

    As a result, part of the Union fleet has ceased fishing, given the and the present impossibility of compensating the increase in input costs.

    Fishing vessels operating in the Black Sea are also facing the threat of possible military activities, therefore leading to a precautionary suspension of their activity.

    The combined impact of those cost increases and shortages is also felt by the seafood farming and processing sectors.

    This is why the Commission believes there is a market disturbance caused by significant cost increases and trade disruptions that requires action in line with the requirements of the European Maritime Fisheries and Aquaculture Fund (EMFAF) Regulation, and thus a basis to put in place the crisis measures provided for in Article 26 of that regulation.

    How will the measures be implemented?

    The measures are in the hands of Member States, which have the responsibility to decide whether to use them. If they decide to use them, they will have to include them in the next version of their European Maritime Fisheries and Aquaculture Fund (EMFAF)  programme submitted to the Commission. The Commission will provide technical guidance to Member States to frame the methodologies for calculating the compensation.

    The expenditure for the measures is eligible if it concerns costs incurred between 24 February and 31 December 2022. Member States can immediately start implementing the measures. After the approval of their EMFAF programme for 2021-2027 by the Commission, the Member State will have to formally confirm the selection criteria used for granting the aid.

    Source: European Commission

    Add A Comment

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    eub2
    • Website

    eub2 is the default publisher for EUbusiness.

    Related Content

    EU Council agrees ‘sustainable’ Baltic Sea fishing quotas for 2025

    Brussels puts forward 2025 fishing quotas proposal for Mediterranean, Black Seas

    Brussels sets out 2025 fishing quotas for Baltic Sea

    Commission proposal for 2024 fishing opportunities in the Baltic Sea – guide

    ‘Stop finning – Stop the trade’ European citizens’ initiative – guide

    EU proposals for the International Ocean Tuna Commission (IOTC) – guide

    LATEST EU NEWS

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    EU artificial intelligence factories set for 2025

    13 November 2024
    BRIEFING

    Agenda

    This week, COP29 begins in Azerbaijan; finance ministers discuss the EU's annual budget for 2025; and MEPs hold a plenary session on EU-US relations, EU summits, deforestation and COP 29...

    EUbusiness Week

    This week competitiveness and environment ministers will hold informal meetings…

    Eurozone Economic Calendar

    Key economic calendar events for the week 11 to 16 November 2024

    The Week's Top Stories

    This week competitiveness and environment ministers will hold informal meetings…

    Advertisement

    Subscribe to EUbusiness Week

    Get the latest EU news

    Latest Posts

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Tems
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025
    Design and developed by : Dotsquares

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Lost password?

    Register Now!

    Already registered? Login.

    A password will be e-mailed to you.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok