Iceland, with a population of just a few hundred thousand, doesn't have its own military even though it was a founding member of NATO (the North Atlantic Treaty Organization). For decades, the US maintained an active military presence in Iceland, and contributed to the small country's defense.

The US pulled out in 2006 and Norway is stepping in with its own fighter jets and naval patrols, reports newspaper Aftenposten. Norway's defense ministry has agreed to help protect Icelandic sovereignty, although it's not providing any security guarantees.

Norwegian Foreign Minister Jonas Gahr Støre and Icelandic Foreign Minister Valgerdur Sverrisdottir will sign a bilateral agreement Thursday when she's in town for a NATO meeting. The deal calls for cooperation on security, defense, preparedness and search and rescue issues.

The US is maintaining a defense agreement from 1951 and Iceland also can rely on NATO support, but it sought a "closer cooperation" with another NATO country. Its agreement with Norway will also involve improved civil defense and surveillance of marine traffic in the vast seas between Iceland and Norway.