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Jørn Høidahl (44) is a fisherman aboard "Sørbåen" of Høidahl Kystfiske AS. (Photo: Private)

Fishery, Defense, and Tax Relief

Dear reader.

A forgotten Arctic delicacy is on its way to the Asian market while the sanctions are tightening their grip on Russian shipping and diplomacy.

Arne O. Holm directs his sharp pen against the tax loopholes of the rich. It has been yet another eventful week in the north.

Next week's meeting of top political leaders, international organizations, bank directors, and philanthropists in Paris is the topic of Editor-in-Chief Arne O. Holm's commentary this week.

However, leaders of the richest parts of the world are not participating in the meeting, writes Holm;

"While the bank accounts of the richest in the world are continuing to inflate, the ice in the Arctic is shrinking. The search for tax loopholes is still more decent than saving the climate."

Rich seas

The Greenland Halibut fishery has been concluded for now. Despite the reddish-brown flounder fish going under the radar for many, the intensive fishery is of great value for fishers and fish receptions in the north.

But more is happening in the Norwegian ocean depths, as Norwegian authorities are exploring the opportunities for deep-sea mining in the Arctic and sub-arctic.

Russia in the north

This week, the Icelandic MFA announced that Iceland will suspend work at its embassy in Moscow as of August 1 and asked Russia to limit its operations in Reykjavik.

It did not take long for the MFA's Russian colleague to react.

This week, we present a new report on the Northern Sea Route that shows stable traffic originating from the Russian Arctic, but also notes that international transit traffic on the route has declined sharply.

Defense

The US continues to flex its muscles in the Arctic through its tenth submarine visit in Grøtsund, Tromsø in Northern Norway on Monday.

And in Alaska, 2000 soldiers are currently also on the move for a military exercise.

We end the week with some cultural news,

The Northern Norwegian county councils have approved the merger of the region's three film companies. This will strengthen regional film ventures and the Northern Norwegian position within the national film policy.

Read about this and more at High North News.

With this, I wish you a great weekend on behalf of the editorial staff,