rockall is within the exclusive economic zone (eez) claimed by the united kingdom. in 1997, the uk ratified the united nations convention on the law of the sea and thus relinquished any claim to an extension of its eez beyond the islet. the remaining issue is the status of the continental shelf rights of the surrounding ocean floor. these are the exclusive rights to exploit any resources on or under the ocean floor (oil, natural gas, etc.) and should not be confused with the eez, as continental shelf rights do not carry any privileges with regard to fisheries. ownership of these rights in the rockall area are disputed between the united kingdom, denmark (for the faroe islands), ireland and iceland.