Financial Crime World

FAROE ISLANDS FEAR RUSSIAN PROPAGANDA, ANIMOSITY TOWARDS ISLANDS MAY SPREAD IN EUROPE

The Danish Realm’s autonomous region of the Faroe Islands is on high alert after Russian President Vladimir Putin’s recent statements about the islands’ potential use for propaganda purposes. Aastrup Jensen, a leading politician in the Faroe Islands, has expressed his concerns that animosity towards the islands may spread across Europe.

Money Talks in Faroe Islands


The economic reality is a major factor in the Faroese government’s decision not to support EU sanctions against Russia. According to Poul Michelsen, a successful businessman and member of the Faroese government, the country would suffer significantly if it were to lose access to the Russian market.

  • “We would go bankrupt the day after,” Michelsen warned. “We don’t have any product we can sell except fish. Our fisheries agreements with Russia in the North Atlantic are crucial for our economy.”

Denmark’s Double Standards


Michelsen also pointed out that Denmark, as a member of the EU, continues to export goods to Russia despite the sanctions. He accused Denmark of applying double standards, saying that while they criticize the Faroese government’s approach towards Russia, they themselves are increasing trade with the country.

Faroe Islands Not Obligated to Follow EU Sanctions


Under the Danish constitution, the Faroe Islands and Greenland have no authority to conduct foreign policy. Therefore, Michelsen argued that he is not obligated to have an opinion on sanctions against Russia or related matters.

  • “Our cooperation with Denmark does not include foreign policy,” he said. “We have not been asked what we think. Why then should I have an opinion?”

Trauma of EU Blockade Still Fresh


The Faroese people still remember the traumatic experience of being blocked from all EU harbors in 2013 due to a dispute over fishing quotas. The incident left a lasting impact on the islands’ economy and has made them wary of relying too heavily on any single market.

All On Board with Russia Relations


During my four-day visit, I failed to find anyone who disagreed with the Faroese government’s approach towards Russia and the EU sanctions. Hermann Oskarsson, a respected expert and lecturer at the University of the Faroe Islands, echoed Michelsen’s sentiments.

  • “Politicians here are following what they’re told by the very few, very rich individuals and businesses in the fishing industry,” he said. “But I don’t see anything invidious in our exports to Russia.”

Denmark Remains Quiet


In contrast to individual Danish politicians who have criticized the Faroese government’s stance on Russia, the Danish government has remained silent. This is likely due to the fact that Denmark is caught between its EU obligations and its desire to maintain good relations with the Faroe Islands.


Legally speaking, the Faroe Islands are not bound by EU sanctions and can continue to export fish to Russia without violating any international agreements. The Russian counter-sanctions, in place since 2014, only prohibit exports of goods from EU countries, but specifically exempt fish from the Faeroe Islands.

The disagreement between Denmark and the Faroese Islands over Russia relations is likely to continue for some time, with the Faroese government prioritizing economic stability and trade over political ideology.