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moratorium [(mawr-uh-tawr-ee-uhm)] A period of delay agreed to by parties to a dispute or parties who are negotiating. A moratorium may also be an authorized delay in the repayment of a loan, especially by a nation (as in a moratorium on war debts). The New Dictionary of Cultural Literacy, Third Edition Copyright Â© 2005 by Houghton Mifflin Company.
Whaling is the hunting and killing of whales for commercial, recreational or scientific purposes.he moratorium came into effect in 1986. Norway registered its objection to the moratorium and as such is not bound by its rules. It hunts whales for both scientific and commercial purposes-the only nation to openly do so.