Iceland

Iceland has no new territory to claim in the Arctic, no navy or air force to speak of and a Coast Guard staffed by only three patrol boats, the newest of which was built in 1975. Iceland’s priorities in the Arctic are to maintain its fishing industry through effective regulation and to promote sustainable practices and scientific cooperation. Effective policy enforcement in Iceland’s Exclusive Economic Zone will require new investments in the Icelandic Coast Guard to ensure that the fleet, already minimal, does not fall into disrepair. Iceland should also pursue additional revenue from seabed oil and natural gas leases where it is ecologically sensible.