Norway announces new sanctions against Russia
Norway has introduced a new package of sanctions against Russia that aligns with the EU's 21st sanctions package.
Source: a press release by the Norwegian government, as reported by European Pravda
Details: The sanctions cover a range of measures targeting, among other things, the energy, financial and cryptocurrency sectors. They also introduce tougher measures against Russia's shadow fleet and expand import and export restrictions.
The package imposes broad restrictions on banks, the oil sector, cryptocurrency services, the shadow fleet and Russia's military-industrial complex.
The aim is to put additional pressure on the Russian economy and its ability to wage and finance the war against Ukraine.
The Ministry of Foreign Affairs has amended the relevant regulations to implement the EU sanctions in Norway. The measures will enter into force on 21 October 2026.
Background:
- On 23 July, the Council of the EU formally adopted a new package of sanctions against Russia, hitting the energy sector, financial services and cryptocurrencies.
- Its adoption had been blocked by several countries for various reasons, with Greece being the last to hold it up.
- On 7 August, the EU also approved new sanctions listings targeting Russia in response to large-scale attacks on Ukraine.
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