According to RIA Novosti, the explanatory note states that, given the UK’s decision of March 15, 2022 to terminate the most favored nation regime in bilateral trade with Russia, the denunciation of the agreement “will not cause serious foreign policy and economic consequences” for Russia.

Earlier, the Daily Mail wrote that Russia's possible decision to ban fishing in the Barents Sea by British vessels could leave British residents without the national dish of fish and chips.