The EU wanted the adjustment period to surpass five years, while the UK wanted a shorter timeframe, and under plans outlined in the deal European fishing quotas in UK waters will reduce 15 percent in the first year and 2.5 percentage points each year after.
By 2025, UK boats are predicted to have access to an extra £145million of fishing quotas every year.
When the adjustment period ends on June 30, 2026, there will be annual talks to set the amount that EU fishing fleets can catch in UK waters.
What is happening in Jersey?
The French Government has warned it could cut electricity to Jersey amid a rapidly escalating disagreement over fishing rights after Brexit.
France’s Maritime Minister Annick Girardin told parliament in Paris that new rules governing access to Channel Islands waters were unacceptable, saying France was “ready to use retaliatory measures”.
Ms Girardin added: “I am sorry that it has come to this [but] we will do so if we have to.”
Jersey, the biggest of the Channel Islands, gets the vast majority (95 percent) of its electricity through three underwater cables coming in from France.
On Friday last week, the Jersey Government granted 41 permits to French fishing boats that are equipped with GPS technology.
But the French government claims the list of approved ships came with further demands that “were not arranged or discussed, and which we were not notified about”.
Ms Girardin said the new rules dictated “where the ships can go and cannot go” as well as limiting the number of days fisherman can spend in the area.
Last week, France’s Europe Minister Clément Beaune accused Britain of blocking fishing rights in general, saying the EU could respond with “reprisals” in an array of financial services.
At the same time, British seafood exporters have been slapped with an EU ban on UK exports of live shellfish such as mussels, oysters, clams, cockles and scallops.
The UK has also failed to strike a new fishing agreement with Norway, threatening to prevent British trawlers from catching cod in Norway’s sub-Arctic territory.
This post originally appeared on Daily Express :: World Feed