Russia urging Pacific Andes and other foreign interests with illicit control of nation’s fisheries to plead guilty

July 31, 2012 23:44

On the eve of August current Russian Prime Minister Medvedev has told the Commission for Control of Foreign Investments that he is concerned about the way the foreign companies behave in the Russian Far Eastern Fisheries as regards alleged illegal control of the strategic industry, reports with reference to Russia's Federal Anti-Monopoly Service.

Special emphasis at the Commission's meeting chaired by PM has been made on the role of Pacific Andes in the Basin's fisheries.

No other details have been disclosed but immediately in the wake the Head of Russian Anti-Monopoly Service Mr Igor Artemyev has urged foreign firms with illicit control of Russian fisheries to report the fact in a voluntary way to his office, according to Kommersant. The repenting corporations would be treated more softly and would be able to hold negations regarding their illicit stakes acquired without approval from the above government commission.

Mr Artemyev has noted that the expansion of foreign companies in the Russian Far East is of greatest concern and, in accordance with findings of his office and other departments, it is Chinese, Korean and Japanese companies who in fact seized a considerable proportion of the Russian fishing fleet to defy the stipulation that foreign investments in the fisheries are subject to approval by the government's commission. Mr Artemyev has reportedly named Pacific Andes with headquarters in Hong Kong (China) as one of the biggest companies of the kind.

The Head of the Anti-Monopoly Service has mentioned various agreements, contracts, mortgages and credit arrangements as forms of take-over and he noted that a number of measures would be undertaken against such companies in near future. To restore Law it will necessary to use the mechanism of negotiations and other mechanisms while fast solutions should not be expected.

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