Norway imposes sectoral sanctions on Russia
Norway has chosen to align itself with the sectoral sanctions imposed by the EU and the USA on Russia. According to the statement of the Norwegian Ministry of Foreign Affairs, the restrictive measures will cover the financial, defence and oil & gas sectors.
In particular, export of certain categories of goods for Russia’s oil & gas industry will require preliminary permit from the Norwegian authorities. It is prohibited to supply equipment and services for deepwater exploration and production of oil and project on development of Russia’s Arctic fields. The ban is applicable only to new contracts. Financing of the mentioned goods and services will also require a preliminary permit.
Restrictions have also been introduced on the terms of financing of Russian projects and companies. Supply of defence products and dual use goods has been banned.
Specific sanctions have been imposed against goods produced in Crimea. It is not allowed to supply equipment, technologies and finances for Crimean companies’ projects related to transport infrastructure, telecommunications and production of oil/gas/mineral resources.
According to the statement, the sanctions are introduced in response to Russia’s violation of international laws and destabilization of Ukraine.
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