Press release | Date: 04/04/2023 | Ministry of Foreign Affairs
Norway has introduced a new set of sanctions against President Putin and the Russian regime. These sanctions mirror the EU’s tenth package of sanctions, which was adopted by the EU on 25 February 2023.
‘It is essential that we maintain pressure on the Russian Government and its supporters. The sanctions are having an impact on the Russian economy and preventing key inputs from reaching the Russian war industry. Norway stands united with the rest of Europe and has aligned itself with all of the EU’s sanctions packages. We stand in solidarity with the people of Ukraine and fully support their fight for freedom,’ said Minister of Foreign Affairs Anniken Huitfeldt.
Norway has aligned itself with the EU's sanctions against Russia, with a few adaptations. The sanctions are implemented in the Regulations of 15 August 2014 No. 1076 relating to restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty, independence and stability of Ukraine.
The sanctions, including the import ban and price cap on crude oil and petroleum products, are hitting the Russian economy hard. In February, Russian tax revenues from the oil and petroleum sector fell by 46 % compared to pre-war levels.
‘The sanctions are becoming increasingly comprehensive and represent a strong and clear European response to Russia’s war of aggression in Ukraine. The opportunities to engage in commercial activities with Russia have been significantly curtailed and carry a high risk,’ said Ms Huitfeldt.
Facts about the New Sanctions against Russia
- A further 87 individuals and 34 entities have been added to the list of natural and legal persons subject to restrictive measures. These listings have already been implemented in Norwegian law. The list now encompasses 1 678 individuals and entities.
- Additional reporting obligations on frozen assets and assets which should be frozen (section 8).
- Additional reporting obligations on Russian Central Bank assets and in relation to securities and money market instruments issued by Russia (section 8c).
- A ban on Russian nationals holding any positions on the governing bodies of critical infrastructure companies (section 8cb).
- Expansion of the list of entities associated with Russia's military-industrial complex (sections 16, 16a and 16b.
- Prohibition on the transit via the territory of Russia of dual-use goods and firearms (sections 16 and 16aa).
- Further restrictions on exports have been imposed, including on sensitive dual-use goods and advanced technology (section 16a), vehicles (section 17i), goods for the construction sector (section 17i), goods used in the aviation industry (section 17c) and other goods for potential military use (section 17i).
- Prohibition to provide natural gas storage capacity to Russian nationals and entities (section 17aa).
- Additional bans on imports of goods which generate significant revenues for Russia, such as bitumen, asphalt, synthetic rubber and carbon blacks (section 17g).
- New rules regarding advance notification of private flights between Russia and Norway, directly or via third countries (section 19).
- Measures that facilitate wind-down of joint ventures or similar legal arrangements in Russia (section 19d) and the release of certain goods (section 19f).
- Clarification with regard to the possibility of providing pilot services necessary for maritime safety to vessels in innocent passage as defined under international law (section 19e).
Guidelines for the Business Sector
Guidelines for the business sector issued by the Ministry of Foreign Affairs (Norwegian only) can be found here on regjeringen.no. They will be updated.
The sanctions adopted by the EU have been implemented in Norwegian law through amendments to the relevant regulations.
For more information about the changes to the sanctions, see the regulations (PDF, Norwegian only).
The regulations enter into force immediately and will be published on Lovdata.
The amendments to section 8 of the regulations will enter into force on 3 June 2023.
The amendments to section 8c of the regulations will enter into force on 4 June 2023.