Two prominent Russian fishing companies active in Faroese waters could soon face new restrictions. Murman SeaFood and Norebo JSC, both holding licences in the Faroe Islands, are already on the EU’s sanctions list for alleged hybrid activities.
Norway has barred their vessels from ports and fishing grounds, and the Faroese Government is now preparing a bill that may pave the way for similar measures.
Bill Could Block Vessels and Freeze Assets
The draft law would grant the government broader powers to take action against Russia and Belarus. Currently, sanctions in the Faroe Islands are tied solely to the war in Ukraine.
The proposed changes would remove that link, allowing action in cases of human rights abuses, hybrid threats, or other breaches of international law.
If adopted, the law could allow Faroese authorities to freeze the assets of sanctioned entities and deny access to ports and quotas. That would directly affect Russian trawlers operating under the Faroese-Russian fisheries deal.
Balancing Fisheries and Foreign Policy
The move comes at a sensitive time. The Faroe Islands and Russia signed their most recent fisheries agreement in late 2024, granting Russia access for up to 28 vessels in 2025.
While officials stress that the new powers would not automatically end cooperation, they could prevent sanctioned firms from using quotas or port facilities.
Industry voices have warned that the measures risk undermining talks on a future deal for 2026. Exporters fear possible retaliation from Russia, which remains an essential market for Faroese herring.
Political and Security Considerations
Foreign Minister Sirið Stenberg underlined that the bill is not a blanket sanction law but a tool to respond to threats: “We must be able to act in line with our partners when democracy and security are at stake.”
The Løgting is set to debate the proposal on Tuesday, 30 September. If approved, it will take effect the day after publication.