US Sanctions on Russia's Seafood Has a Big Loophole: China Processors
Fishing is big business in Russia, one closely linked to the Kremlin and Putin’s projection of power at sea. The country is the one of the world's top seafood producers and was the eighth-largest exporter to the U.S. last year, with more than $1.2 billion worth of sales, the bulk of it king crab.
But the same species is also harvested in Russia in similar amounts, and once processed and imported from China, fills an important gap in the U.S. market. In lieu of tracing the country of origin, U.S. producers rely on the name recognition of Alaska pollock to signal where the fish was caught. U.S. trade data analyzed by The Associated Press show that the biggest importer of Russian-caught pollock from China last year was High Liner Foods. The company did not respond to the AP's request for comment.
The West has used "financial nuclear weapons" against Russia, and its economy will really see the worst of the effects of sanctions by the end of the year, says George Washington University professor of international affairs and business Scheherazade Rehman. As 2022 continues, Russia's monetary reserves will run low and there will be shortages and high inflation. That might turn Russians against President Vladimir Putin, Rehman tells storyteller Clark Fouraker.
Allegations of illegal fishing have even followed Russia to the south pole, where a Russian ship in 2020 was accused of faking its location data to fish illegally off season. A Russian observer was also found to be behind anomalous catch data from several Antarctic fishing vessels. In both cases, Russia denied any wrongdoing.
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