The Ministry of Finance today asked Norges Bank to immediately freeze all investments made by SPU in Russia. The bank was also asked to develop a plan for the total sale of the fund from the Russian market.
The Government Pension Fund (SPU) will leave Russia
Russia is currently subject to broad international sanctions, joined by Norway. Furthermore, the government considers the situation to be unusual enough to be reported Norges Bank on the sale of the fund from the Russian market.
- This decision is a clear signal to the Russian leadership. We strongly condemn the serious violations of international law that Russia is currently committing, says Finance Minister Trygve Slagsvold Vedum.
Russia announced today a ban on selling shares on the Moscow Stock Exchange
The sale must take place within applicable sanctions. Sanctions are legally binding. Russia unilaterally announced today a ban on the sale of shares on the Moscow Stock Exchange. Therefore, it may take some time for the sale to complete.
- For the legitimacy of both Norway and the fund, it is important that we, together with the world community, take a clear position, withdrawing our savings from the Russian market - says the Minister of Finance.
Source: regjeringen
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