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The European Investment Bank financing will be channelled through Iceland’s Arion Bank to support certified marine businesses in Iceland, Greenland and the Faroe Islands.

In this way, it becomes the first European country to operate a fully integrated national fisheries management ecosystem.

The Canadian province has selected former union leader and aquaculture representative Keith Sullivan to head its standalone fisheries department.

The seafood company preliminarily estimates losses of around USD 216 million, which would affect its sustainability and investment projections.

Industry groups warn that parts of the EU Fisheries Control Regulation and the CATCH IT system are "unworkable in practice" and argue they risk harming safety and competitiveness.

The new measures will affect Peruvian vessels registered with the South Pacific Regional Fisheries Management Organisation.