The Faroe Islands, Small States and the Alliance Dilemma

Since the Russian invasion of Ukraine in 2022, Western countries have been forced to reconsider their economic dependence on Russia. From the late 1970s, the Faroe Islands has adopted bilateral fishery agreements with Russia, and during the last 15 years, export to Russia has significantly increased. However, the growing economic dependence on Russia has triggered both internal and international criticism. What are the security implications of closer cooperation with Russia in a period characterised by growing great power rivalry in the region? To what extent is it possible to separate trade, economic policy and security policy? As part of the NATO alliance, what dilemmas confront Faroese authorities when economic interests and security considerations pull in different directions?