Fisheries Agreement between the Government of the Russian Federation and the Government of Iceland.

The Parties shall cooperate in the sphere of conservation and rational management of marine fishes shall exchange information on marine research, exploration of stocks in the EEZ and contiguous zone, fishing methods and fish processing (art. 2). Each Party shall grant access right to the fishing vessels of the other Party for fisheries within established fishing quotas The Parties shall inform each other of the modalities of examination of applications and issuing of fishing licences. (art. 3). The Parties have pledged to grant access to the officials on board of the fishing vessels for inspection. Each Party shall apply sanctions for the violation of the fisheries regulations in the EEZ of their own country (art. 6). The Parties shall set up Joint Fisheries Commission for the implementation of the present Agreement (art. 10).