FISHING industry leaders have welcomed an EU law change designed to mitigate against the impact of Russia's food export ban.The EU Fisheries Council has agreed to allow the industry to "bank" 25 per cent of the 2014 mackerel quota, up from the standard 10 per cent, and roll it over for use in 2015.

It means that UK fishermen could potentially reserve 72,500 tonnes from their 290,000 quota.

The move has been designed to give the industry more time to foster trade deals with new markets to make up for the loss of Russian trade. Moscow imposed an embargo on food imports from the EU and US in response to sanctions over Ukraine.

The ban has had the biggest impact on Scotland, where fishermen hold 70 per cent of the UK mackerel quota. The Russian market accounted for 18 per cent of UK mackerel exports last year, generating £16 million. Both the UK and Scottish Governments last night attempted to claim credit for the deal.

Ian Gatt, chief executive of the Scottish Pelagic Fishermen's Association, said: "It is still too early to assess what the impact of the Russian trade sanctions will be on the Scottish mackerel sector.

"But it is important that we have flexibility through the facility to bank and carry forward some of the 2014 quota into next year should it be required. Hopefully we won't need to use this option, but it is vital that the banking facility is in place as we don't want to be in a situation where cold stores are full and our boats are catching excellent quality fish that ends up for fishmeal."