Despite EU Sanctions, Russia’s Fish Exports to Europe Increased

In 2022, Russia's fish export volume to the EU increased by 18.7% YoY to 198,800MT, and the export value increased by 57.6% YoY to USD 1.02B. Cod accounted for the main export share of 47% by volume and 54.7% by value, while pollock products accounted for 41% and 32.3%, respectively.

Russia accounted for about 4.5% of 4.4MMT of the EU's total fish and seafood imports in 2022. The Netherlands and Poland became the largest buyers of cod, and Germany became the EU's key pollock importer. The EU is considered one of the most attractive world markets for fishery producers.

After the UK increased the customs duty on Russian whitefish, the demand for fisheries from Norway and Iceland increased in this country, and in return, Russian companies could take their market share in the EU.