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Report | January 20, 2026
Flags of convenience and hidden ownership: EU-owned fishing vessels in high-risk jurisdictions
The European Union (EU) is a global leader in efforts to combat illegal fishing. As one of the world’s largest markets for seafood, and with a significant distant water fleet of at least 588 vessels when combining both EU-flagged and EU-owned vessels fishing outside EU waters, the EU plays a pivotal role in shaping how fisheries are managed and monitored internationally. But there is a blind spot. EU citizens and companies own fishing vessels that operate under non-EU flags, including ‘flags of convenience’ (FoCs), issued by states with weak monitoring, control, and surveillance mechanisms or limited political or judicial will or capacity to enforce fisheries rules. These FoCs present high risks of non[1]compliance and illegal fishing. Because there is no clear obligation for EU citizens or companies to register ownership of such vessels with EU authorities, most remain hidden from public view. This lack of oversight allows profits from foreign fishing activities, including potentially illegal, unreported and unregulated (IUU) fishing, to flow back into the EU.
