- The Negotiations are held under the Agreement between the Government of the Russian Federation, and the Government of Denmark and the Home Rule Government of Greenland, on fisheries relations between the Russian Federation and Greenland of 7 March 1992.
- The Negotiations are held annually. The outcomes of the Negotiations are recorded in the protocol signed by the Parties.
- The Parties exchange quotas for fisheries in the Fishery Zone of Greenland and the Exclusive Economic Zone of the Russian Federation in the Barents Sea. The Parties exchange statistical data on catches, agree upon technical measures to regulate fisheries and unified conversion factors for fish products, decide the procedure for issuing fishing permits and discuss issues relating to satellite tracking of fishing vessels of the Parties and electronic data exchange as well as plans for joint scientific research.
The Polar Branch participates in the annual negotiations and cooperates with the Greenland Institute of Natural Resources (https://natur.gl/). The Institutes cooperate in studies of redfish and Greenland halibut stocks and benthos, collect fisheries and biological data onboard fishing vessels, conduct research aimed at enhancing assessments of stocks in ICES and NAFO areas.