In response to the Russian attack on Ukraine, the EU has imposed sanctions, which the Norwegian government has announced that it will join. The sanctions now being put in place by Norway are huge and extensive. The sanctions are intended to prevent the export of technologies, goods and services that could be used in Russian hostilities. They affect the financing of the Russian regime. They affect people in Russia and Belarus who were involved in deciding, carrying out and justifying the illegal attack on Ukraine.

– We hit the Russian regime by freezing financial resources, introducing an entry ban and abolishing some visa facilitations to Norway. Also stopping exports, trade and transactions that may either directly contribute to the war machine or finance and support the war effort. We are introducing sanctions together with the EU and other countries so that the measures are taken decisively and effectively, says the minister foreign affairs.

Violation of measures is punishable by law

The sanctions currently adopted mean that citizens i Norwegian companies and other persons residing in Norway they must follow them. Actions are being taken to target the financial, energy, transport, export control and quotations sectors of many hundreds of people. Violation of the measures is punishable by law. Norwegian companies must exercise caution and investigate measures if there is reason to believe that listed companies and individuals are involved. Norwegian banks must have good systems in place for stopping payments attempted to be made to listed individuals and companies.

- Trade in goods and services between Norway and Russia is limited. For some Norwegian companies, these sanctions will be a serious challenge. This is especially true in Eastern Finnmark, where we are currently developing some financial measures to alleviate the challenges faced by businesses and local communities. This is especially important to ensure jobs and facilitate lasting change, says Minister of Trade and Industry Jan-Christian Vestre.

We will organize information meetings, we have created an information telephone

The sanctions are a comprehensive extension of the sanctions introduced by Norway in 2014 after Russia's annexation of Crimea and have now been incorporated into Norwegian law. This ensures that the Norwegian authorities have comprehensive regulations to underpin sanctions enforcement and facilitate compliance.

- We understand that coping with it can be difficult and we maintain a constant dialogue with the business community. We will organize information meetings, we have created an information telephone, a separate e-mail address and we will publish information on regjeringen.no. We want Norwegian companies to find the necessary information about this large and comprehensive package of sanctions, says the Minister of Foreign Affairs.

More information can be found at the regjeringen.no website and in the regulations itself. The regulation takes effect immediately.

- This is the first package which, by this royal resolution and the decision of the ministry, corresponds to the EU measures introduced from 9 March 2022. The exceptions are actions against Russia Today and Sputnik. This goes for the essentials, and we are taking the time to make a careful assessment, says Huitfeldt.

On March 15, the EU adopted further measures, which we are now considering, with a view to swift transposition into Norwegian law.

- We must expect further sanctions against Russia and Belarus - concludes Huitfeldt.

Source: regjeringen

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