An agreement between Iceland and Norway on how to divide the Atlanto-Scandian Spring Spawning Herring quota was reached this morning in Norway.
According to this new agreement, Norway is now entitled to a 61 percent share of the herring quota and Iceland to a 14.5 percent share. Ruv.is reports.
The rest will be divided between the Faroe Islands and other countries that fish the Atlanto-Scandian Spring Spawning Herring in international waters, including EU member countries and Russia.
Norway had previously requested a 70 percent share of the quota and had wanted Iceland to settle for eight percent. Iceland’s government said Norway’s request for 70 percent was excessive, and requested a 16 percent share of the fish that was once referred to as the silver of the sea, during Iceland’s herring boom.
Discussions over the quota debate have been ongoing since Monday – much longer than either party originally planned.