The proposed project will document and analyze changes in the geopolitical position of Iceland after 1989. The process of Europeanization of Iceland, and the idea of EU membership, will be analyzed in detail. Furthermore, the proposed project will also examine the possibilities for, and constraints upon the foreign policy of Iceland, regarding possibilities of exploring areas of the Arctic Rim. The specific geopolitical position of Iceland made this country an object of interest during the Cold War. Recent economic crisis, which has affected the economy of Iceland, proved that Iceland is an essential element for both European security architecture and stable global economic order, as well. Evolution of the geopolitical position of Iceland is a complex process that goes along with the redefinition of the concept of ’sovereignty’. This change originates from internal factors (the political discourse of neutrality, identity, sovereignty and nationality) and external ones, resulting from the diminution of strategic importance of Iceland for the United States, as the Cold War has ended. While Iceland during the Cold War has looked westwards toward the US, from mid 90s the importance of increasing the role of the European Union in Iceland’s foreign policy is evident. Moreover, there is some evidence to indicate that the prospects for opening the Arctic will allow Iceland to realize its interests in the international system and make good use of its geopolitical position. Iceland, despite being geographically placed on the periphery of Europe, plays a significant role in the European politics, and therefore the foreign policy of Iceland deserves special attention.
