Norway and the Faroe Islands have agreed to reduce fishing quotas for 2024, with the Faroe Islands' cod and haddock quotas in Norwegian waters being reduced. Additionally, Faroese vessels can catch additional quotas through an exchange agreement with Russia, and Norwegian vessels can fish in Faroe Islands waters until 2024. Furthermore, the quotas for Norwegian blue ling, ivory fish, by-catch of other species, and mackerel have also been reduced.