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12:34 GMT 11.03.2024 (Updated: 12:46 GMT 11.03.2024)
MOSCOW (Sputnik) – Russian President Vladimir Putin has signed the law denouncing the 1956 agreement that allowed UK sailors to fish in the Russian zone of the Barents Sea, according to the relevant document published on the official legal information portal on Monday.
Considering the UK’s decision made on March 15, 2022 to terminate the most favored nation regime in bilateral trade with Russia, the denunciation of the agreement «will not cause serious foreign policy and economic consequences» for Russia, the explanatory note said.
In 1956, the Soviet Union and the United Kingdom signed an agreement that granted British fishermen access to fish in the Barents Sea zone, which is part of Russia’s exclusive economic zone. This arrangement was a result of diplomatic relations and mutual benefits between the two countries, allowing the UK fishing industry to exploit the abundant resources in the region while fostering economic cooperation between the nations.
