EU to provide financial aid to aquaculture sector to offset consequences of Ukraine war

Members of the European Parliament have backed a deal with governments across the European Union to provide the aquaculture and fisheries sectors with financial support to offset the impact of Russia’s invasion of Ukraine.

MEPs voted 620-10 in favour of the financial support package, which would support areas that had to halt their activities or saw their businesses disrupted by Russia’s actions in the region.

Member states will be given the ability to adjust rules to use remaining resources from the European Maritime and Fisheries Fund (EMFF) for the 2014-20 period. The financial support would cover lost income or additional costs that has been incurred from the rising cost of energy, raw materials and fish feed prices.

The support will be provided retroactively from 24 February 2022, when Russia’s invasion began.

“This financial package will allow additional crisis measures to be used to support the EU fishery and aquaculture sectors in the context of Russia’s invasion of Ukraine,” MEP Nuno Melo said.

Following the MEPs backing, the Council of the EU ministers will now have to back the deal before it comes into effect.

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