Iceland in the Cold War due to clerical errors. Icelandic courts approved warrants by the Icelandic police to tap the phones of prominent Icelandic communists on six occasions during the period 1949-1968: During the 12-year reign of the , US-Icelandic relations were at their calmest. The government initiated major economic reforms that liberalized Iceland's economy and reduced Iceland's dependence on barter trade with the USSR. The Cod Wars were a series of confrontations between the United Kingdom and Iceland regarding fishing rights in the North Atlantic. Each of the disputes ended with Iceland's victory. The final Cod War concluded with a highly favorable agreement for
Cod Wars Wars because Icelandic statesmen were too greatly constrained by domestic politics to offer compromises to the British, but British statesmen were not as constrained by public opinion at home. International relations scholars such as Robert Keohane, Joseph Nye, Hans Morgenthau, Henry Kissinger and Ned Lebow have written on the Cod Wars. The 2016 review article finds that lessons from the Cod Wars have most commonly been applied to liberal and realist international relations theory and theories on asymmetric bargaining. It claims that the Cod Wars are widely seen as inconsistent with the precepts of the liberal peace, since democracy, trade