Ignoring Putin Boycott Brings Cash Reward to Faroe Islanders

The Faroe Islands, part of the Kingdom of Denmark, wont observe European Union sanctions the country says make no economic sense as its fish farmers predict a surge in exports to Russia.

I have a responsibility to my people and I dont believe in boycotts, Home Rule Prime Minister Kaj Leo Holm Johannesen said yesterday in a phone interview. They always end up hurting the wrong people.

The north Atlantic archipelago, settled by Norse Vikings, has stayed outside the European Union and, unlike non-EU member Norway, has ignored the sanctions against Russia. That means it hasnt been hit by President Vladimir Putins retaliatory trade ban. Bakkafrost P/F (BAKKA), based in the Faroese town of Glyvrar, predicted last month the development will more than triple its fish exports to Russia.

Criticism from abroad has been very muted, 50-year-old Johannesen said. Ive explained the situation to Brussels, to Danish lawmakers and to the Obama administration when I traveled to Washington and New York recently.

Danish Foreign Minister Martin Lidegaard said he doesnt want to be the umpire in this matter, in a brief interview today. Its no crime not to be a member of the EU nor is it a crime not to be the subject of a boycott. On the other hand, its clear that the EU expects that others dont take advantage of the situation to capture market from countries impacted by the boycott.

A fishing boat unloads its catch at the dock in Klaksvik, the second largest city in the Faroe Islands. Close

A fishing boat unloads its catch at the dock in Klaksvik, the second largest city in the Faroe Islands.

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A fishing boat unloads its catch at the dock in Klaksvik, the second largest city in the Faroe Islands.

Russia, which accounts for about 7 percent of global Atlantic salmon demand, imposed its food ban on countries backing sanctions at the beginning of August. The standoff has left the Faroes, which supply about 4 percent of world output, in a unique position to provide Russians with fresh salmon.

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Ignoring Putin Boycott Brings Cash Reward to Faroe Islanders

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