Fishermen sort and load trays of salmon heads to be used as bait for crab and lobster pots as they prepare for their next voyage to sea, on the South Pier of Bridlington Harbour fishing port in Bridlington, north east England on December 11, 2020. OLI SCARFF / AFP

The European Union and Britain have reached a deal allowing their fleets to catch fish worth a total of $2.5 billion in 2026, both parties said on Wednesday, December 10. "This agreement ensures EU fleets can fish up to 288,000 tonnes, worth over €1.2 billion," the European Commission said in a statement.

For its part, the United Kingdom's food and environment ministry said the deal allowed "access to over 520,000 tonnes of fishing opportunities for 2026, worth an estimated £830 million ($1.1 billion)."

In the commission's eyes the deal, which also involves European Economic Area member Norway, "holds particular significance as the stocks covered comprise the bulk of the EU's shared resources with third countries in the North-East Atlantic."

Subscribers only