Navigation

Newsletter

Subscribe to the latest news from the Nordic Labour Journal by e-mail. The newsletter is issued 9 times a year. Subscription is free of charge.

(Required)
You are here: Home i News i News 2023 i Russian rubles in the Faroe Islands’ economy

Russian rubles in the Faroe Islands’ economy

People on the Faroe Islands are holding their breath these days. At least those working in the pelagic fishing industry. So far this year their export to Russia has been worth 800 million Danish kroner (€107m). Now it might all end, as the Russian fisheries authority has recommended an import ban on Faroese fish products.
Up one level

This folder has no visible items. To add content, press the add button, or paste content from another location.

Document Actions

At a crossroads

Russian ships in Faroese harbours have been an everyday occurrence in the Faroe Islands for decades, but the historic cooperation with Russia is at a crossroads.

Update

Today, 8 December, the Ministry of Fisheries has entered into an agreement with Russia on a new fisheries agreement for next year. This means that after the New Year, Faroese and Russian fishing vessels can continue to enjoy each other's fish stocks, writes DR.dk.

The fisheries agreement between the Faroe Islands and Russia has existed since 1977. It gives Faroese shipping companies access to fish for cod in the Barents Sea, in exchange for Russian ships being able to fish blue whiting in Faroese waters.

Newsletter

Receive Nordic Labour Journal's newsletter nine times a year. It's free.

(Required)
h
This is themeComment