According to Andrei Krainy, the director of the Russian Federal Fisheries Agency, the fishing industry in Russia loses from USD600 to USD700 million on annual terms as a consequence of poaching activities. Mr. Krainy made the announcement on December 25, noting that the higher loss figures circulated in the media – from USD1.5 to USD2 billion – were inaccurate. While the Fisheries Agency chief did acknowledge that as late as in 2007, the losses from poaching reached as much as USD2 billion, now the scale of poaching has gone down. In the current year, Russia entered into agreements with South Korea, North Korea, Japan, and China. The agreement with China was signed on December 8, 2012.  Mr. Krainy added that if the government keeps up its effort in counteracting poaching activities, the production of sturgeon in the Caspian Sea will be profitable in a five-year term.