December 26, 2023 — Seafood prices may see an increase both for fishers and consumers due to new import restrictions on Russian products imposed in an executive order by President Joe Biden on Friday, but top Alaska political leaders and many industry officials praised the policy as beneficial to regions with fisheries statewide.
The executive order expands sanctions against Russia for its invasion of Ukraine to include products that are caught in Russia and processed in China, closing what advocates for the restriction called a loophole Russia was exploiting after a general ban on seafood from that country was imposed by the U.S. in 2022. Biden’s order also affects alcohol and “non-industrial diamonds.”
In the simplest practical terms, it means there will be fewer seafood products available — thus both likely expanding Alaska’s share of the market, while affecting availability and prices for consumers.