The threat of EU sanctions against Iceland, in continuation of the conflict with the North Atlantic mackerel, have little or no influence on the Icelandic fishing industry at all.
Both Iceland and the Faroe Islands had been expected a ban on landing and sale of their products in EU ports, especially after accusations that they are fishing in territorial waters and the fisheries are not sustainable in line with international recommendations.
According to a BBC report, published on Monday, many companies continue their trade, despite the fact that the EU has approved a package of sanctions against the North Atlantic islands. A Sanctions Package, which if it had been executed, would only have transferred production, than leading it to stop, according to a proffessor from HB Grandi.
HB Grandi CEO Vilhjálmur Vilhjálmsson told the BBC reporter that the majority of the production goes to Russia and about 11 percent to the UK. If sanctions were penetrated, UK would still be necessary to meet the demand of cod through other channels, and HB Grandi would then be forced to go to these channels in place and the way through anyway end deliver cod to the UK .
Iceland Nature Conservation Association president Arni Finnsson do not think it is likely to sanctions and do not expect it ever launched. Commentary on the conflict and possible penalties he told BBC “Economic sanctions are something you do against Syria or against the previous government in Libya. Iceland is a naval country and it therefore seems unlikely with sanctions. “
The news comes as the Island recently announced a quota reduction of 15 percent for 2013, although the EU and Norway argue that the reduction is simply inadequate and still does not comply with international recommendations.
Source: IceNews – BBC
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