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The proposal is based on the results of capelin studies conducted by the Icelandic Marine Research Institute between January 19 and 25 this year.

This is the recommendation of marine scientists although the final quota will be set by the Norwegian-Russian Fisheries Commission.

Northern cod has remained stable since 2017 and is at a higher level than previously understood based on the 2024 assessment.

Statistics Iceland attributes the drop in overall export volume to reduced capelin catches.

The deal, Norway's largest and most important bilateral fisheries agreement, is seen as vital for preserving key fish stocks in the Barents Sea.

Norway's Institute of Marine Research has recommended a catch limit 56% higher than last year; the Ministry of Fisheries will set the final quota this November.