The Faroe Islands and Iceland have today reached an agreement on mutual fishing rights for 2026. The deal follows the same framework as the 2025 agreement.
The agreement sets quotas and access for several key stocks. It allows vessels from both countries to continue fishing in each other’s waters under defined limits.
Faroese quotas and capelin share
Under the deal, the Faroese demersal quota is set at 5,600 tonnes. This includes up to 2,400 tonnes of cod and up to 400 tonnes of ling.
The Faroese capelin quota remains at 5 per cent of the total allowable catch. This share is capped at 30,000 tonnes.
Mackerel and shared pelagic access
Iceland will receive 1,300 tonnes of mackerel from the Faroe Islands.
Both countries will continue to grant each other access to fish blue whiting and Atlanto-Scandian herring in their respective waters.
Time limit and talks on the 2027 deal
The agreement is valid until 1 August 2026. This follows an Icelandic request, made after the turn of the year, to start talks on a 2027 fisheries agreement as soon as possible. Any extension of the 2026 deal will be discussed during the spring.
The Faroe Islands have agreed to begin talks on a 2027 agreement immediately. The first round of negotiations will take place in late January, with the Faroe Islands hosting.
Minister of Fisheries and Industry Eirikur í Jákupsstovu said he would have preferred an agreement without a time limit, but welcomed the fact that vessels can begin fishing immediately. He added that he expects talks on 2027 to be based on clear positions and a will to reach agreements for both 2026 and future cooperation.