What will happen to Russian fishing rights in Faroese waters? That is the central question as the Faroese Parliament debates a new sanctions law.
Two Russian companies, Murman SeaFood and Norebo JSC, hold licences in the Faroes. Both are under EU suspicion for involvement in so-called “hybrid threats” such as cyberattacks and disinformation.
Sanctions may Weaken Future Agreements.
If the new law passes, their licences could be frozen, and their ships barred from Faroese ports.
The Faroes and Russia have had a fisheries deal since 1977. Each year, quotas and access are negotiated. Industry leaders now warn that sanctions could weaken future agreements or even end cooperation after 2026.
The government’s proposal does not set new sanctions directly. Instead, it expands the legal powers of ministers to act against Russia and Belarus. At present, sanctions are only tied to the war in Ukraine. The new law would also cover human rights abuses inside Russia and hybrid actions abroad.
Following Europe and Norway.
The European Union has already moved against Russian companies linked to hybrid threats. At the same time, Norway has banned ships from the two fishing firms from its ports. The Faroese government says it must keep pace with its partners.
Exporters fear Russia could strike back. Moscow is still an essential buyer of Faroese fish, especially herring. A cut in trade would hurt local companies.
Officials admit there are risks but argue that aligning with allies is vital for democracy, human rights, and international law.