Article Source: Bloomberg.com

The Pacific nation of Palau is creating the first shark sanctuary, banning commercial fishing of all sharks in its waters from vessels that hunt the predators for their fins, coveted in soups as an Asian delicacy.

Johnson Toribiong, president of the island republic, will formally announce the ban today at the United Nations General Assembly, said Carl-Gustaf Lundin, head of marine conservation at the International Union for the Conservation of Nature. Shark populations are in danger of collapse along with salmon and tuna commercial fisheries because of scant protective measures.

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