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 Iceland |  Sweden |
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Iceland–Sweden relations (Icelandic:Samskipti Íslands og Svíþjóðar,Swedish:Islands-svenska relationer) refers to the diplomatic relations betweenIceland andSweden. Both nations areNordic countries and are members of theArctic Council,Council of the Baltic Sea States,Council of Europe,NATO,Nordic-Baltic Eight,Nordic Council,Organisation for Economic Co-operation and Development,Organization for Security and Co-operation in Europe,Joint Expeditionary Force and theUnited Nations.
Iceland and Sweden are two Nordic countries once inhabited by theVikings. The first known Swede to arrive to Iceland wasGarðar Svavarsson in 870. He became the first person to circumnavigate Iceland.[1] In 1380, Iceland (at the time ruled byNorway) joined theKalmar Union joining Iceland under a single monarch with the three kingdoms ofDenmark, Norway and Sweden. Both Iceland and Sweden were joined as one nation until the dissolution of the union in 1523. After the union, Iceland was ruled by Denmark until obtaining its independence (under a Danish constitutional monarchy) in 1918.[2] On 27 July 1940, both Iceland and Sweden established diplomatic relations.[3] In June 1944, Iceland became a republic and both nations opened embassies in each other's capitals, respectively.[4] DuringWorld War II both nations remained officially neutral, however, Iceland was invaded by theallies and used as a base while Sweden unofficially assisted the allies.
Since the establishment of diplomatic relations between Iceland and Sweden, both countries have actively participated in the international arena to discuss issues affecting the Nordic nations such asclimate change,Arctic policy and in mutual defense outside of NATO.[citation needed] Both countries have participated in foreign expeditions such as inAfghanistan with theInternational Security Assistance Force.
During theIcelandic financial crisis from 2008 to 2011,Sweden's National Bank issued 5 billion Swedish Krona (€520 million) to Iceland'sKaupthing Bank in order to pay "depositors and other creditors" affected by the financial crisis.[5]
Iceland, as a member of theEuropean Free Trade Association has unrestricted access to theEuropean Union market (which includes Sweden). In 2015, total trade between Iceland and the EU totaled €5.7 billion Euros.[6]
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