Oceana urges Cyprus to strengthen control over vessels under 'flags of convenience'

The international ocean conservation organization Oceana has announced the identification of links between Cypriot companies and fishing vessels registered in countries with lax regulations. In light of this, the organization called on the Cypriot authorities to strengthen oversight and investigate the activities of companies owning vessels outside the European Union.

According to the published report, Cypriot interests are linked to vessels registered, specifically, in Belize and Equatorial Guinea. According to Oceana, insufficient oversight in these jurisdictions may facilitate illegal fishing and undermine the principles of fair competition in the industry.

The organization points to a serious lack of transparency regarding vessel ownership. Oceana believes that existing legislative gaps allow beneficial owners to remain hidden and continue activities associated with risks of violating international fishing rules.

"Transparency of vessel ownership is key to complying with fishing regulations and ensuring a level playing field for law-abiding companies," the organization's statement noted.

According to Oceana, at least 105 vessels linked to EU countries and registered in 20 high-risk states have been identified. Furthermore, nearly a third of them have permits to export products to EU countries.

The organization urged Cypriot authorities and European structures to take urgent measures to strengthen control, close legislative loopholes, and ensure transparency in the fishing sector.