Faroese Minister of Fisheries Arni Skaale has announced that the Faroe Islands has extended its fisheries agreement with Russia and both parties have agreed on corresponding quotas in each other’s territorial waters.
Speaking to Danish broadcaster TV2, Skaale explained, “The Faroe Islands are absolutely right to extend the current fisheries agreement with Russia in areas where we exchange fisheries quotas with the Russians.”
In 1977, the governments of the USSR, Denmark and the local government of the Faroe Islands agreed and signed a Russian-Faroese fisheries cooperation.
As part of this treaty, a mutual exchange of quotas for harvesting biological resources in the economic zones of each party.
Once a year, the joint Russian-Faroese fisheries commission holds sessions to discuss fisheries’ practical issues and the cooperation’s development.