Sberbank, Sakhalin govt sign deal on online fish sales

By Andrei Skvarsky.

Sberbank, Russia’s biggest lender, and the government of the country’s Sakhalin island have signed a deal to set up a fish exchange for declared purposes such as replacement of nearly all fish imports in the Russian market with Russian-caught fish.

The project, which involves selling a minimum of 50% of fish brought to Sakhalin ports via online auctions, is expected to bring import substitution to 90% by 2018.

Other targets are to ensure a minimum 25% increase in fish export revenues and transparent pricing in governmental purchases of fish, Sberbank said in a statement.

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