Protocol between the Government of Iceland and the Government of the Russian Federation under the Agreement between the Government of Iceland, the Government of Norway and the Government of the Russian Federation concerning Certain Aspects of Co-operation in the Area of Fisheries.

With reference to Article 3 of the Agreement between Iceland, Norway and the Russian Federation concerning certain aspects of cooperation in the area of fisheries of 15 May 1999, a separate bilateral arrangement between the Government of Iceland and the Government of the Russian Federation regarding Icelandic catch quotas for North East Arctic cod in the Russian Exclusive Economic Zone north of 62° N, suspension of quota is Total Allowable Catch is lower, Icelandic catch quotas for other species, Norwegian fishing opportunities in the Icelandic Exclusive Economic Zone, bycatch, notification to other Party of quotas, communications regarding participating vessels, compliance, enforcement, etc. In addition to fishing rights outlined in Articles 1 and 2 of this Protocol and in accordance with the laws, rules and regulations of the Parties and Articles 4 and 8 of the Agreement, special arrangements by private entities in the two countries may provide for additional fishing possibilities. The Russian Federation may require that fishing within its Exclusive Economic Zone by fishing vessels of Iceland shall be subject to licence. The number of licences shall reflect the quotas allocated pursuant to this Protocol and the capacity of the fishing vessels concerned.