The war in Ukraine, however, has soured relations internationally and even their fish is now a geo-economic weapon that can be used against Russia or the Faroese. It could also lead to better relations between Torshavn and Brussels, the capital of Faroe Islands.

Since 1977, the Faroe Islands have signed barter deals with Russia for their vessels fishing in Russian waters. Four large Faroese vessels are rigged for fishing in the Barents Sea, and rely on the deal.

The last time it was renewed in November 2022, but only after some criticism.

Jenis av Rana of the Faroese Centre Party said, “I believe we must stop all co-operation with Russia.”

The agreement, which covers less than 2 percent of Faroese Gross Domestic Product (GDP), is important for a small country that wants to be independent from Denmark.

Faroese fishers have a greater opportunity to sell their products to Russians.

In August 2014, Russia banned the import of fish from EU, US, Canada and Australia.

The Faroe Islands, however, were exempted by the Russian ban. Since then, they have made good profit on fish sales to Russia, mainly herring, that few other countries are interested in buying.

Since Russia attacked Ukraine, the Faroese found alternative markets for half their exports to Russia. Russia is still the Faroese’s fourth largest export market, after Denmark and the UK.

The Torshavn parliament (the Logting) conducted an analysis of the country’s overall relations with Russia following snap elections in December 2020. What would happen if the cooperation with Moscow were halted, continued, or changed?

A confidential report has been completed and will be discussed by the parliamentary Foreign Relations Committee before a decision is made in the Logting in the summer.

Mackerel Wars

Ten years ago, the EU imposed sanctions against the Faroe Islands over a dispute about fishing rights that was dubbed ‘Mackerel Wars.’

All Faroese ships carrying herring or mackerel have been banned from EU ports for one year as of 28 August 2013.

The Faroese people were shocked.

“We lost half our export market in a single day. …. If the EU had imposed the same sanctions on Russia as it did against the Faroe Islands, then perhaps the war would not have happened [in Ukraine] Hogni Hoydal said that he would stop, Hogni Hoydal was the deputy prime minister, minister of foreign affairs, trade, and industry in Copenhagen, on Wednesday, 10 May.

He said that the sanctions were “tough, and in fact they were the toughest sanctions we’ve seen against a country anywhere in the modern world”.

“The EU is able to export everything to Faroese Islands, but we have limited access to the European Market for our main products”, said he while adding: “We are hopeful that relations with the EU will now enter a new phase.”

Colonial-style trade deal

The current trade agreement between the EU & Faroese dates from 1997. The agreement allows for the free trade of raw, non-manufactured fish.

Why must we be kept in this old type trade deal that hinders innovation of our industry?” “, a source who closed the talks asked.

“Now there is a more productive dialogue with the European Commission about this. The source said that the EU may have realised, in light of the geopolitical situation, how important it is to maintain good relations with Faroe Islands.

EUobserver learned that a partnership agreement could be signed within a few months.

The clock is ticking as the next annual barter deal for fish with Russia will be available in November 2023.

“We wish this war” [with Ukraine] Stop. War is a waste of time. Hoydal stated that we must address the situation with all of our partners.

“How should we deal with Russia?” Every week, every day and every hour, the islands of the North Atlantic discuss this issue. He said, “It is not easy”.

“The geopolitical environment is adding pressure to everything that happens in the North Atlantic and Arctic region. Hoydal, Faroe Islands’ minister of foreign affairs, said that his main responsibility is to create consensus and coherence in our policies towards Russia. However, he refused to take an individual stand.

“We have seen no different behaviour in our water following the attack on Ukraine. We are working hard to secure infrastructure. We do not want to cause unnecessary anxiety in our country and our neighbouring nations. Hoydal stated that the focus of the government is to maintain a low-tension environment in our region and work closely with Nato regarding security.

The Faroese took part in a Nato Exercise in the Atlantic Ocean, with civilian vessels. They are preparing to take over airspace control in Copenhagen.

Hoydal stated that the Faroese Islands are working to become a sovereign nation in the long term: “As our saying goes: Nothing about us without us”.