The loophole dispute from an Icelandic perspective

Abstract

The study approaches the Loophole dispute between Iceland, Norway and Russia from an Icelandic perspective. The focus is mainly on four issues; the underlying legal framework of the dispute, the question why Iceland engaged in these fisheries, the negotiation process and how dramatically Iceland’s stance on high sea fisheries has shifted since the mid-1990s. The study attempts to answer if Iceland respected its obligations under the Law of the Sea Convention in the dispute. The study concludes that it is questionable if Iceland behaved as a responsible fisheries nation in the Loophole dispute and that Iceland even violated its obligation under Article 300 of UNCLOS whereas she did not respect Law of the Sea Convention’s due regard obligation.