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Small European nation defies sanctions to fish with Russia

Added 11-26-22 09:37:05am EST - “Denmark's self-governing Faroe Islands have renewed a fishing quota deal with Moscow” - Rt.com

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Posted By TheNewsCommenter: From Rt.com: “Small European nation defies sanctions to fish with Russia”. Below is an excerpt from the article.

The Faroe Islands, an autonomous territory of Denmark, have renewed a fishing quota deal with Russia, Faroese Fisheries Minister Arni Skaale announced on Saturday.

The Faroese parliament approved a one-year extension of the agreement by a large majority, the minister said. The deal is essentially a barter agreement that gives the Faroese a quota to fish in the Barents Sea, while Russian ships are able to fish the waters off the coast of the Faroe Islands. Russian vessels are also permitted to ship their catch out of Faroese ports.

“It is the right thing for the Faroe Islands to renew an existing agreement with Russia in which we exchange quotas,” Skaale told the Danish daily Jyllands Posten.

The Faroe Islands, despite being an autonomous region of Denmark, are not part of the EU. The fishing agreement between Russia and the Faroe Islands has existed since 1977 and is extended every year. However, after the start of Russia’s military operation in Ukraine earlier this year, there were calls from many sides, including Danish and EU officials and the Faroese government itself, to annul the deal.

Skaale noted, however, that the government of the island nation chose to protect its economy, which is highly dependent on the agreement. Fishing is the main economic activity for the archipelago, which is inhabited by some 53,000 people, and accounts for 95% of its exports. According to Skaale, the deal with Russia covers 5% of Faroese GDP and “is by far the largest agreement we have with another country regarding fisheries cooperation.”

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