BRUSSELS
Iceland announced on Thursday that it would no longer seek to join the EU, a move which its current Eurosceptic government had pledged two years ago.
"The Government of Iceland has no intentions of resuming accession talks," the government said in a press release on Thursday.
“Iceland’s interests are better served outside the European Union,” Foreign Minister Gunnar Bragi Sveinsson wrote in a note on his website.
Sveinsson however emphasized the importance of continued strong relations and cooperation between Iceland and the EU.
The country had first applied for EU membership bid in 2009, in the midst of a financial crisis.
However, the negotiations, which began in 2010, failed due to a conflict over the fishing industry. Fishing, which is the largest industry in Iceland, is regulated by the European Union for its members. The European Commission has issued complaints to Iceland about overfishing, last year, and has threatened economic sanctions.
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