Russia, Faroe Islands renew bilateral fisheries deal

The Faroese government confirmed that the Faroe Islands and Russia have concluded consultations on the two parties’ fisheries cooperation for 2023.

The new deal factors in next year’s reduced total allowable catch (TAC) for cod in the Barents Sea, with both taking lower quotas.

“As a major stakeholder in the management of some of the world’s largest fish stocks in the Northeast Atlantic, the Faroese government promotes rules-based sustainable fisheries management," the Faroes Islands’ government said in a statement. "The renewal of the fisheries agreement has been made with due consideration for the continued sustainable management and control of these fish stocks, given their economic and social importance."

The deal was arranged via teleconference due to political issues stemming from Russia's invasion of Ukraine, with the Faroese government maintaining it the deal did not undermine its opposition to the war there.

“The Faroese government condemns the Russian aggression against Ukraine," it said. "The decision to renew the fisheries agreement does not affect this position, and the Faroe Islands continue to take the necessary measures to ensure effective sanctions against Russia.”

In May 2022, the parliament of the Faroe Islands passed a bill authorizing the government of the Faroe Islands to implement sanctions against Russia and Belarus. These sanctions largely resembled those passed by the E.U.

While it adopted port closures for Russian vessels, these do not apply to Russian fishing vessels. It also hasn’t prohibited the export of fish products to Russia. At the time, a government statement said that the sanctions did not include fishing vessels because the Faroe Islands and Russia have cooperated on fisheries for decades – cooperation which includes the joint managing of stocks.    

Photo courtesy of JFK