EU set to punish Faroe Islands and Iceland in fish row

The EU is to fast-track trade sanctions against Iceland and the Faroe Islands as the mackerel war threatens to halve Ireland’s quota of its most valuable stock next year.

Fisheries Minister Simon Coveney accused Iceland of irresponsibly plundering mackerel that is worth around €100m a year to Irish fishermen and keeps 10 processing factories busy.

The battle also threatens Iceland’s bid to join the EU, as member states say they would be reluctant to open the next stage of negotiations, which deals with fish.