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. Last Updated: 07/27/2016

Fishing Deal Approved

MOSCOW -- Prime Minister Sergei Stepashin has approved a proposed deal with Iceland and Norway to control fishing and catch quotas in northern seas, Itar-Tass reported Tuesday.

Russia and Norway had agreed that the aggregate permissible catch for northeastern arctic cod in 1999 would be 480,000 tons, the news agency said.

Iceland will be allocated a general quota of 8,900 tons of cod this year, including 450 tons to be netted in Russia's economic zone. The agreement also provides for Iceland to take an annual quota from Russia's offshore economic zone and sets up a mechanism to determine the price to be paid to Russian fishing authorities.

The report did not say if Iceland and Norway had accepted the agreement.