Norway and Faroe Islands sign herring fishery agreement

An agreement has been reached to promote sustainable development in the fishing industry, with a quota allocation of 64.2% for Norway, 10% for the Faroe Islands, and the remaining 25.8% for other countries like Iceland, Russia, and the EU. Both Norway and the Faroe Islands have reduced their quotas by 22.8% compared to the previous year, in line with the International Council for the Exploration of the Sea's recommendation to reduce stocks by 24% in 2023. The agreement also permits Faroese fishermen to sell their catch through a Norwegian sellers cooperative and allows Norwegian fishermen to catch a certain percentage of their blue whiting share in Faroese waters.