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Iceland Not Affected by Russian Import Ban

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Iceland Not Affected by Russian Import Ban

fishing boat

Photo: Páll Stefánsson.

The prediction that the Russian import ban on goods from Norway and the EU might have a negative impact on the sale of Icelandic seafood has not rung true, visir.is reports.

There are no signs to indicate that Norway has tried to sell its products that would have otherwise gone to the Russian market to Iceland or the Faroe Islands, as was feared by some.

Director of Sales at Iceland Seafood, Friðleifur Friðleifsson, told visir.is that the Norwegians act responsibly and would never take any risks with such an important market in the long term. According to Friðleifur, the main change is that Icelandic businesses are more cautious than ever before when entering the Russian market.

Many companies had managed to acquire credit insurances from Russian companies but these are now lost with the import ban.

According to Friðleifur, the prices for Icelandic seafood, mainly herring and mackerel, have not changed much in recent years. “We take it slowly,” he said, “and work from week to week.”

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