Published by Global Banking and Finance Review
Posted on December 18, 2025
Dec 18 (Reuters) - Norway has reached a fisheries agreement with Russia for 2026, setting the Northeast Arctic cod quota at its lowest level since 1991 to ensure sustainable management of fish stocks, the Norwegian government said on Thursday.
The total quota for Northeast Arctic cod has been set at 285,000 tons, down 16% from this year’s level, and Norway’s share of next year's cod quota will be 139,827 tons, significantly reducing fishing pressure.
The annual agreement is considered crucial for preserving shared resources in the Barents Sea, one of the world’s most important fishing grounds, and reflects long-standing cooperation between Norway and Russia.
"The cod quota for next year is the lowest since 1991. But after several years of substantial quota cuts, it now appears that we have laid the foundation for an increase in the stock that will allow somewhat higher quotas further on," Norway's Fisheries and Ocean Minister Marianne Sivertsen Næss said in a government statement.
The total haddock quota for 2026 will rise 18% to 153,293 tons, with Norway’s share at 76,345 tons.
(Reporting by Abu Sultan in Bengaluru, additional reporting by Nilutpal Timsina Editing by Sharon Singleton and Ed Osmond)
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