As President Vladimir Putin’s relationship with the U.S. and Europe freezes, a small Atlantic archipelago is set to see its salmon exports to Russia soar.
The Faroe Islands, part of the Kingdom of Denmark, has managed to stay outside the European Union. And unlike non-EU member Norway, the world’s biggest salmon producer, it hasn’t signed up to sanctions on Russia. That means it hasn’t been hit by Putin’s retaliatory food ban. Bakkafrost P/F (BAKKA), based in the Faroese town of Glyvrar, says the development will more than triple its exports to Russia.
“It’s a really strange situation when such a big market is emptied of salmon overnight just as we’re holding lots of salmon that we want to sell,” Chief Executive Officer Regin Jacobsen said by phone on 3 September. “If you want fresh salmon, there aren’t that many alternatives.”
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