Top 10 stories that defined Europe’s 2014 seafood industry

4. The EU also stepped up it efforts aimed at combating illegal, unreported and unregulated (IUU) fishing throughout the year, issuing official warnings to a number of countries for not acting appropriately to encourage the sustainability of fisheries resources. These warnings grant six months to address EU member states’ concerns, thereafter those nations not acting to fix the situation can face sanctions, including a total ban on exports of its fishery products entering the EU market. Current estimates put the total global cost of IUU at between EUR 8 billion (USD 9.8 billion) and EUR 19 billion (USD 23.2 billion) annually.