Iceland–Russia relations

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Iceland-Russia relations

Iceland
Russia
Ólafur Ragnar Grímsson with President of Russia Vladimir Putin at the Kremlin on 19 April 2002.

Iceland–Russia relations is the relationship between the two countries, Iceland and Russia. Russia has an embassy in Reykjavík. Iceland has an embassy in Moscow, and two honorary consulates in Murmansk and Saint Petersburg. Both countries have close ties in financing, which has strengthened the relations between the two.[1]

History

Direct diplomatic relations between the Soviet Union and Iceland were established on October 4, 1943.[2][3] In December 1955 the missions in Moscow and Reykjavik were upgraded to embassies. From 1975 to 1991 a trade representative of USSR was in Iceland and Russia had one in Iceland from 1991 to 1995.[2] In 1997 the first Russian-Icelandic dictionary was published by Helgi Haraldsson.[4]

The President of Iceland Ólafur Ragnar Grímsson went to Russia from April 18, 2002 to April 24, 2002. Grimsson visited Saint-Petersburg, Moscow, Novgorod and Salekhard.[2][5]

In 2008 Prime Minister Geir Haarde sent a delegation Russia to negotiate a £3bn (€4bn) capital injection into the country's finances, after the country's traditional Western allies refused to help the collapsing banking system.[6] The loan was later renegotiated to $500 million after Iceland managed to secure loans from Scandinavian countries and the International Monetary Fund, but finally Russia refused to lend any amount to Iceland.[7]

Trade

In 2003 Russian-Icelandic trade was $US 89.7 million. Export from Iceland to Russia was $US 13.8 million. Import were $US 75.9 million. Russia is the 9th largest exporter to Iceland. Russian exports are raw materials: oil products (62,3%), aluminium (27%). Iceland exports to Russia ships and vessels (25,1%), sea products (23,3%), textiles and garment (14,9%), chemical fertilizers (10,8%), and industrial equipment (9,5%).[2]

See also

References

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External links

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