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President of Russia Vladimir Putin: Good afternoon, colleagues,

Today, I would like us to discuss the development of our fisheries industry. The Government is addressing this systematically, but it is a complex issue that goes beyond simply ensuring a supply of products to consumers at affordable prices. While I will talk more about that aspect, the issue also encompasses areas like shipbuilding and investment tools such as the “keel quota” programme. This is precisely what makes it so multifaceted. In your reports today, I would like you to elaborate on how all the different tools we are using to advance this industry are working, and what further steps are needed to eliminate any bottlenecks in the development of our fishing sector.

Specifically, I would like you to address the construction of fishing vessels. As I mentioned, the “keel quota” programme is a key mechanism here. Launched in 2017 to support the industry, it allows for the exchange of fishing quotas for investments in the fishing fleet and processing infrastructure, thereby supporting investment in cutting-edge vessels, including new-generation trawlers capable of processing the catch directly on board using waste-free technology. Today, we will discuss the current results of this approach and explore how we can improve the efficiency of these quotas.

I would like to reiterate that Russia is endowed with unique reserves of biological resources. It is crucial, therefore, that we not only harvest them but also ensure their efficient processing and transportation. Moreover, we must prioritise the interests of the domestic market. Our goal is to ensure that Russia’s catch and processed products seamlessly reach store shelves across the country so that residents in every region can purchase these high-quality goods at, as I have said, affordable prices.

At present, the level of fish and seafood in the Russian diet falls below the standard recommended by our Healthcare Ministry. I would like to point out that in countries with high levels of fish consumption, we also see a corresponding increase in life expectancy. Here in Russia, annual consumption stands at around 24 kilogrammes per person, but it should be higher. This is a key point I want to highlight for all our colleagues involved in this work, at every level.

This is a truly important systemic issue, as a balanced diet is critical for public health and, as I have mentioned, for life expectancy. With that in mind, I will also ask you to present specific proposals in this area today.

But before we begin our main discussion, I would like to invite Mr Andrei Nikitin to provide an update on the development of inland waterways. This issue is closely related to the key topic we will be discussing.

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(Several reports were presented at the meeting. Transport Minister Andrei Nikitin spoke about the development of the country’s inland waterways, which extend over 100,000 kilometres. He highlighted the growth of passenger and cruise shipping, ongoing dredging operations, and the modernisation of hydraulic infrastructure. Mr Nikitin pointed out the existing imbalance in freight distribution among various transport modes and emphasised the need to better integrate water transport into the national transport network to maximise its advantages for long-distance freight. He also assured the meeting participants that environmental considerations and fish farming interests are taken into account in infrastructure design.

Head of the Federal Agency for Fishery Ilya Shestakov presented a report on the performance of Russia’s fisheries sector. Since 2018, the industry has maintained a stable annual catch of around five million tonnes. Commercial aquaculture continues to expand, with this year’s output projected to reach 4.7 million tonnes, sufficient to meet domestic demand and support exports. Mr Shestakov noted that the sector’s economic performance in 2022–2024 was influenced by external factors, including limited access to North American and EU markets, disruptions in supply chains, and constraints in financial instruments. The situation improved in 2025, with export revenues projected to reach about US$6 billion this year. Russian fish products are now supplied to around 90 countries, with China and the Republic of Korea remaining the leading importers as of 2024.

Ilya Shestakov noted that efforts are underway to shift the fisheries sector from a raw material–based model to one focused on high value-added production, aiming to supply the domestic market with high-quality products and enhance overall economic efficiency. The share of highly processed fish products in total output has risen from 15 percent in 2017 to 34 percent in 2024. He also reported the completion of 48 vessels – 25 fishing and 23 crab vessels – and the construction of 30 new fish processing plants. By 2026, 24 vessels are scheduled to be completed: 13 fishing vessels and 11 crab vessels. Two research vessels and one vessel for Lake Baikal are currently under construction. He also noted that the construction of the fishing fleet is lagging behind the original schedule. This issue is being addressed under the leadership of Deputy Prime Minister Dmitry Patrushev. Furthermore, in accordance with the President’s instructions to stimulate demand in the domestic market, a roadmap for increasing fish consumption has been approved and an autonomous non-profit organisation, the Agency for the Promotion of Fish Products, has been established.

Kamchatka Territory Governor Vladimir Solodov discussed the development of the region’s fisheries sector. He noted that, based on preliminary reports, Kamchatka is expected to maintain its leading position in Russia’s fishing industry in 2025. The region accounts for 41 percent of the Far Eastern catch and 31 percent of the national total. Since the early 2010s, Kamchatka’s fishing output has doubled, reaching between 1.5 and 1.8 million tonnes annually over the past three years. The Governor highlighted ongoing consistent efforts to combat poaching, maintain a balance between fishing activity and the conservation and reproduction of aquatic biological resources, attract investment, and modernise the fishing fleet. Twelve modern coastal processing plants equipped with state-of-the-art technology have been constructed, increasing total processing capacity by more than 2,000 tonnes per day.

The Governor also emphasised efforts to boost domestic fish consumption. In line with the President’s instructions, a comprehensive programme has been launched to promote the industry’s development, including measures to encourage advanced processing, promote fish products among the public, and establish direct supply channels to retail chains.

In addition, Vladimir Solodov outlined several challenges facing the sector and presented a series of proposals aimed at addressing them).

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Vladimir Putin: Colleagues,

I asked to discuss this particular issue today, given its importance for the country’s economy as a whole and especially for certain regions. The Kamchatka Territory Governor [Vladimir Solodov] spoke about it in detail. One can tell right away how important this line of work is for Kamchatka. It means jobs, budget revenues at all levels, and, of course, issues related to the diet which underlies the nation’s health.

It was no coincidence that I mentioned the fact that in countries where fish and seafood consumption is quite high – in some countries twice as high as in Russia – life expectancy is also higher. Without a doubt, longevity is the result of comprehensive efforts, but diet plays a significant role as well.

In addition, as we can see, these matters are related to the operation of the transport system, environmental issues, nature conservation, and, which is crucial, directly to the manufacturing industry.

In particular, Ilya Shestakov [Head of the Federal Agency for Fishery] noted that the renewal of the fishing fleet is lagging behind the established schedules and plans. The keel quotas must, of course, be fair, and the entire system must function properly. Yes, we understand the challenges, such as key interest rates and other factors, but still, the corporate cost-benefit ratio remains quite high. We need to base our work, as discussed today, on actual circumstances.

The Governor of Kamchatka listed a number of serious, core issues. In due course, I would like to hear separately what Deputy Prime Minister Denis Manturov has to say about matters of shipbuilding and ship repairs, and Dmitry Patrushev, who oversees this sector, as well.

As for the Governor’s requests and proposals, I would like the Prime Minister to formalise them accordingly, perhaps through his own instruction. Please let me know if you need me to issue additional instructions. I think, though, that setting out these matters in an instruction issued by the Prime Minister will be enough. What do you think, Mr Mishustin?

Prime Minister Mikhail Mishustin: Yes, Mr President, I am on it. With your permission, we will formalise it in my instruction.

Vladimir Putin: Very well. Thank you.

All the best. Thank you.