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In page Foreign relations of Iceland:

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Iceland has an ongoing dispute with Denmark (on behalf of the Faroe Islands) on the one hand and with the UK and Ireland on the other hand, concerning claims to the continental shelf in the Hatton–Rockall area of the North Atlantic under the UN Convention on the Law of the Sea (1982).[1] Iceland's claim covers virtually the entire area claimed by the other three countries, except for a small portion in the south-east corner of the Irish claim,[2] while the Faroes claim most of the area claimed by the UK and Ireland.[3] Negotiations continue between the four countries in the hope of making a joint proposal to the United Nations Commission on the Limits of the Continental Shelf by May 2009.[citation needed]