A total of 132 people were on board but 63 people were rescued.
Most of the passengers on board were Russians.
78 of those on board were Russian nationals and the rest were from Ukraine, Vanuatu, Lithuania and Myanmar.
Russian Emergencies Ministry states that rescue operation is involving 1,300 people and 29 units of equipment with over two dozen ships and a rescue helicopter to look for the 15 passengers who are still missing.
Russian news agency Tass reports that that trawler sank in the Sea of Okhotsk 330 kilometers west of Krutogorovsky settlement in the Kamchatka region.
Tass states that the possible cause of the incident might be that the vessel have struck an obstacle at around 06:30 local (20:30 GMT Wednesday) that have pierced a hole in the vessel which caused the trawler sank. “The investigators believe that the most probable cause of the fast submersion of the vessel is the possible collision with an obstacle,” Tass stated.