Faroe Islands get Salmon Windfall as Virtual Monopoly Supplier of Fresh Salmon to Russia
SEAFOODNEWS.COM [Wall st. Journal] by By Anton Troianovski Feb 21, 2015
SORVAGUR, Faeroe Islands -- As the tit-for-tat economic confrontation between Russia and the West nears its first anniversary, there are plenty of losers: associates of President Vladimir Putin barred from going to the U. S., European farmers banned from selling fruit to Russia, and German electrical-equipment companies that have lost a fifth of their Russian sales.
But one winner can be found in the rough sea between Iceland and Scotland: the tiny Faeroe Islands.
Because these 18 wind-swept rocky islands aren't part of the European Union, the volleys of sanctions and counter-sanctions have passed them by. Russia's food-import embargo last year retaliating against countries that sanctioned it thus handed the fishing-dependent Faeroes a virtual monopoly in Russia for their biggest export: fresh salmon.
"We are the lucky ones," said Atli Gregersen, an owner of salmon farming brand Hidden Fjord...
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