Icelandic-Russian Relations: Trade Determined by the EU

Iceland has a solid trade relationship with Russia in spite of some current confrontations. Iceland’s closest cooperation with Russia takes place within various regional organisations, specially regarding the Arctic. In the wake of Iceland’s economic collapse in October 2008, a Russian bailout was considered but the loan never materialised. Iceland did not hesitate to take part in the sanctions against Russia in 2014 and Iceland takes part in most of its allies’ statements regarding worries about human rights and democracy in Russia, along with increased Russian military activity within the Arctic. Media coverage on Russia in Iceland mainly revolves around international politics, security and human rights issues. There have been no publicly known incidents of Russia attempting to interfere and influence Icelandic domestic politics.