Countries · IS
Iceland: sanctions and trade risk
As of 7 November 2026, the screened UN, EU, UK, Swiss and US sanctions lists contain 1 company, organisation, vessel or aircraft linked to Iceland.Lists last checked .
Logistics profile: ports, airports, customs, documents, holidays, news ↓
No elevated country indicator for Iceland in the route rules Sanctioni uses. That is not a clearance: goods may still be export-controlled, and parties in Iceland may still be on a list.
On the sanctions lists
1 entries on the official lists name Iceland — as nationality, address, registration or flag. That links them to the country; it says nothing about other companies there. The same company can appear on several lists and is then counted once per list. Individuals are not included — Sanctioni does not process them.
| List | Entries | |||
|---|---|---|---|---|
| US OFAC — Specially Designated Nationals (SDN) | 1 | 1 | — | — |
Latest changes
No new listings or removals naming Iceland recorded yet.
Related
Logistics profile
Iceland: logistics and trade
North Atlantic island, EEA external border, fish and aluminium exports
Iceland (IS) is a North Atlantic island between Europe and North America and acts as an EEA external border with a focus on fish and aluminium exports. Through the EEA Agreement and EFTA the country is closely tied to the EU single market but remains outside the EU customs union; customs clearance is handled electronically via Skatturinn (WEB customs clearance under Regulation 88/2005), and import VAT is 24 percent (reduced rate 11 percent). The main gateways are Keflavik Airport (KEF) and the ports of Reykjavik/Sundahofn (containers), Grundartangi (aluminium) and Akureyri. With no road or rail link to the mainland, all foreign trade moves by sea and air freight; domestically, the Ring Road (Route 1) and Reykjanesbraut distribute goods. Weekly container services by Eimskip and Samskip connect Iceland with Rotterdam, Immingham and Hamburg/Cuxhaven. Key exports are fish and seafood, aluminium and pharmaceuticals; the main trading partners are the Netherlands, Germany, the United Kingdom, the USA and Norway.
- Capital
- Reykjavik
- Population
- 389,444
- Area
- 103,000 km²
- Currency
- Icelandic krona (ISK)
- Continent
- Europe
- Region
- Northern Europe
- Economic area
- EEA / EFTA
- Religions
- Lutheranism, Catholicism, Humanism, Paganism
- Access to the sea
- Yes
- Current situation
- Weekly container services by Eimskip and Samskip to Rotterdam, Immingham and Hamburg/Cuxhaven operate as normal; Keflavik (KEF) without restrictions. Reykjanes volcanism: eruption July/August 2025 ended, new effusive eruption considered likely (no ash cloud risk for air traffic). Temporary VAT reduction on fuels (24 to 11 percent, 1.5.-31.8.2026) dampens transport costs. (As of 2026-07-22)
- Seasonal conditions
- Storms and snow in winter; volcanic activity on Reykjanes Peninsula (effusive, without ash cloud - no air traffic risk); road closures possible.
Main seaports
- Reykjavik
Reykjavik/Sundahöfn (IS REY) is Iceland's main container port: ~228,000 TEU, Eimskip and Samskip, reefer for fish exports, truck-only hinterland.
- Grundartangi
Grundartangi (IS GRT): Iceland's industrial port for aluminium and ferrosilicon, bulk not containers. Route boxes via Reykjavík (Sundahöfn).
- Helguvik
Helguvik (ISHEL), near Keflavík, is Iceland's main fuel-oil port for tankers up to 200 m, also handling bulk and general cargo for local plants.
- Akureyri
Akureyri (IS AKU), northern Iceland's main port on Eyjafjörður: ~500,000 t/year of containers, bulk and chilled seafood, with an Eimskip terminal at Oddeyri.
- Hafnarfjordur
Hafnarfjordur (IS HAF) is a general- and bulk-cargo port near Reykjavik with the Straumsvik aluminium terminal. Containers via Reykjavik, bulk via Grundartangi.
- Keflavik
Keflavik-Njardvik-Helguvik, Reykjanes, Iceland: bulk, fish, breakbulk and some containers, with deep water at Helguvik. For liner cargo use Reykjavik.
Main cargo airports
- Keflavik International AirportKEF
Keflavik Airport (KEF/BIKF): Iceland's only intercontinental gateway, Icelandair Cargo freighters, fresh fish exports, operational emergency March 2026.
- Reykjavík Domestic AirportRKV
Reykjavík Domestic Airport (RKV/BIRK): Iceland's domestic hub, Eagle Air home base, city harbour. Belly cargo for inland supply.
Road corridors
- Hringvegur (Ring Road, Route 1)
- Reykjanesbraut (Reykjavik - Keflavik)
Main trade lanes
- Iceland - Rotterdam (NL)
- Iceland - Immingham (GB)
- Iceland - Hamburg/Cuxhaven (DE)
- Iceland - North America (Eimskip)
Customs and import
Customs authority Skatturinn - Iceland Revenue and Customs (customs/tax authority)Official website ↗
- Import customs system
- Electronic customs declaration (WEB customs clearance / EDI) with Skatturinn, mandatory under Regulation 88/2005.
- Export customs system
- Electronic export declaration via the customs system of Skatturinn (Iceland Revenue and Customs).
- Import VAT
- Import VAT (VSK) 24 percent standard rate, 11 percent reduced rate (incl. food, books, electricity/hot water); due at customs clearance.
- Proofs of origin and trade agreements
- EEA/EFTA: movement certificate EUR.1 or origin declaration on the invoice (approved exporter/REX); duty- and quota-free for originating goods except certain fish/agricultural products.
- Restricted and prohibited goods
- Licence/permit requirement, among others for weapons, narcotics, certain foodstuffs/animals/plants (veterinary/plant protection); bans in line with EU rules.
Typical import documents
- Commercial invoice
- Bill of lading or air waybill (B/L or AWB)
- Packing list
- Proof of origin (EUR.1/origin declaration)
- Import licences where applicable
Typical export documents
- Commercial invoice
- Packing list
- Bill of lading or air waybill (B/L or AWB)
- Proof of origin (EUR.1/origin declaration)
- Health/veterinary certificate (fish) where applicable
Logistics conditions
- Customs complexity
- Medium
- Customs delays
- Low
- Port congestion
- Low
- Dangerous goods relevance
- Medium
- Pharma and cold chain relevance
- High
- E-commerce relevance
- High
Trade
Top import partners
Top export partners
Top import goods
- Machinery
- Crude oil
- Vehicles
- Food
- Chemicals
Top export goods
- Fish
- Aluminium
- Iron alloys
- Pharmaceuticals
- Wool
Typical cargo
- Fish and seafood (reefer)
- Aluminium and iron alloys
- Pharmaceuticals
- Machinery and vehicles
- Fuel and food
Upcoming public holidays
- Christmas Eve (from 1 pm)Thu, 24 Dec 2026
- Christmas DayFri, 25 Dec 2026 · businesses closed
- Boxing DaySat, 26 Dec 2026 · businesses closed
- New Year's Eve (from 1 pm)Thu, 31 Dec 2026
- New Year's DayFri, 1 Jan 2027 · businesses closed
- Maundy ThursdayThu, 25 Mar 2027 · businesses closed
- Good FridayFri, 26 Mar 2027 · businesses closed
- Easter SundaySun, 28 Mar 2027 · businesses closed
Latest logistics news
- EU Parliament Wants to Relieve Small Businesses of Packaging Representative Obligations28 Oct 2026
The EU Parliament wants to relieve certain small companies of the authorized representative requirement. The position is not yet a valid exception.
- EFTA and Vietnam Sign Free Trade Agreement21 Oct 2026
EFTA and Vietnam have signed their free trade agreement in Hanoi. Preparations are worthwhile for exporters, though the new tariff benefits are not yet in effect.
- Driver Shortage Becomes European Capacity Risk10 Sept 2026
Shortage of truck drivers forces transport companies to reject orders. Regulated migration can provide relief – if training and working conditions are adequate.
- EU Customs Reform Nearing Completion8 Sept 2026
New EU Customs Authority, Central Data Hub and Stricter Package Rules: Correct Product Data and Clear Import Processes Become More Important for Swiss Shippers
- EU Steel Imports, Melt and Pour, Steel, Mill Test Certificate, Heat Number, TARIC, Customs, Switzerland, Great Britain, Steel Import, Certificate of Origin1 Sept 2026
Starting in October, the EU wants to know more precisely where steel is actually produced. Swiss and British deliveries to the EU could also be affected.
Logistics questions
Is Iceland part of the EU customs union?
No. Via the EEA Agreement and EFTA, Iceland belongs to the EU single market but stays outside the EU customs union. Customs borders and declarations apply towards the EU, though EEA-origin goods are largely duty-free.
What is the import VAT rate in Iceland?
The standard VAT (VSK) rate is 24 percent and the reduced rate 11 percent (e.g. food, books, electricity and hot water). Import VAT is levied at customs clearance.
Which customs authority is responsible in Iceland?
Skatturinn (Iceland Revenue and Customs) handles taxes and customs. Import and export declarations are filed electronically via WEB customs clearance under Regulation 88/2005.
How are goods transported to Iceland?
Exclusively by sea and air, since there is no road or rail link to the mainland. Eimskip and Samskip run weekly container services to northern Europe; air cargo goes via Keflavik (KEF).
Which proofs of origin apply for duty-free EEA trade?
For originating goods a EUR.1 movement certificate or an invoice origin declaration (approved exporter/REX) suffices. Certain fish and agricultural products are excluded.
Do the volcanic eruptions affect logistics?
The Reykjanes eruptions are effusive (lava flows, no ash cloud) and do not disrupt air traffic. Keflavik operates normally; localised road closures and the evacuation of Grindavik remain possible.
Full logistics profile on Freight Academy ↗
Powered by Freight Academy, verified 22 Jul 2026. Logistics information, not a sanctions source.