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Thursday, 29 October 2026 Icelandic stories. Global audience.
Explainers

Why does Iceland ‘own the fish’? Understanding resource rights and Alþingi’s role

Vísir explores why Alþingi, Iceland's parliament, established the nation as collective owner of fish stocks but left control of fishing rights to others.

White church with clock tower against a blue sky (Alþingi)
Image: Ray Swi-hymn from Sijhih-Taipei, Taiwan / Wikimedia Commons (CC BY-SA 2.0) · licence, original (resized) Illustrative image.

Iceland faces two questions about its natural resources that may seem distinct but in fact share an underlying connection, according to a recent analysis published by Vísir. Central to the discussion is why access to the nation’s shared fish resources has become so valuable, and what role Alþingi, Iceland’s parliament, played in deciding how these resources are managed.

The article, titled ‘The system that is virtual reality’ (Kerfið sem sýndarveruleiki), examines a key point: Alþingi, Iceland’s parliament, allowed the people of Iceland to claim collective ownership of the fish but left the allocation of fishing rights to others. This arrangement has had a profound impact on both policy and public perception around natural resource distribution in the country.

Background: Alþingi and resource ownership

Alþingi, Iceland’s parliament, is the national legislature. Founded in 930 at Þingvellir, it is often called the oldest parliament in the world. Today, the assembly is unicameral, with 63 members elected every four years through party-list proportional representation, and meets in Reykjavík.

Sources

Image: Ray Swi-hymn from Sijhih-Taipei, Taiwan / Wikimedia Commons (CC BY-SA 2.0) · licence, original (resized) Illustrative image.