Seafood companies In Greenland, Iceberg Seafood and Royal Greenland, are halting exports to Russia due to funds not being able to leave Russia.
Director of Iceberg Seafood Jesper Lauritzen comments, “Our sales to Russia have stopped, as you can not get money out of the country.”
Sales Director for Royal Greenland, Bruno Olesen, also explains, “Right now we have stopped exports and are not sending anything to Russia due to the payment issue. The board and management have this week discussed the matter and will find out how the opportunities in Russia are going forward.”
In 2021, fish and shrimp exports to Russia sold for just under DKK 600 million among Iceberg Seafood, Royal Greenland, and Polar Seafood.
For Polar Seafood and Iceberg Seafood, exporting to Russia has been a vital market for the companies with solid growth in revenue over the last years.