Iceland to Vote on Resuming EU Membership Talks Amid Fishing and Security Concerns

Iceland will hold a referendum on Saturday to decide if the country should resume accession talks with the European Union. The vote comes after Prime Minister Kristrún Frostadóttir’s centre-left government pledged a referendum by 2027 following a snap election win in 2024.

Supporters argue that EU membership could stabilise Iceland’s volatile currency, lower inflation and strengthen security ties, especially as the nation watches increased Russian maritime activity near the strategic GIUK gap. Finance Minister Daði Már Kristófersson said the rapid geopolitical challenges have pushed Iceland’s international position “up the agenda.”

Opponents stress that control over Iceland’s fishing waters – which account for about 40% of exports – is essential to national sovereignty. Fishing industry leaders warn that the EU’s common fisheries policy could force the country to share its lucrative quotas. Opposition leader Guðrún Hafsteinsdóttir pledged that “Iceland’s waters will never be shared.”

Polls this week show a narrow lead for the “Yes” side, with 51.3% in favour and 48.7% opposed, though earlier surveys had the camps virtually tied. Both sides are campaigning vigorously, with the Liberal Reform party backing the “Yes” campaign and the European Movement in Iceland urging a vote for security reasons.

If the referendum passes, negotiations with Brussels would restart, though a second vote would be required to ratify any final agreement and all 27 EU members would need to approve it. A “No” outcome would pause the accession process. Iceland currently participates in the European Economic Area, giving it access to the single market and the Schengen zone, but it remains outside the EU’s customs union and common fisheries policy.