Original: The Cod Wars , also called the Icelandic Cod Wars ( , '' the cod war '' , or Landhelgisstríðin , '' the war for the territorial waters '' The Icelandic Coast Guard 's name in Icelandic directly translates as '' Territorial waters Guard '' . )
Simplified: In 1972 , Iceland unilaterally declared an Exclusive Economic Zone extending beyond its territorial waters , before announcing plans to reduce over-fishing .