Bans new investments in Russian energy sector and introduces various trade restrictions

On 24 March 2022, Norway adopted a new package of sanctions, encompassing the restrictive measures adopted by the EU on 15 March 2022. Among others, the sanctions impose a ban on new investments in Russian energy sector, as well as trade restrictions, including with regard to import and transport of iron and steel products, and the prohibition against the provision of credit rating services to any Russian persons or entity.

• Type:

  • Entry and establishment (Ownership and control)
  • Treatment and operation (Investment related trade measures)
  • Treatment and operation (Operational conditions, Other)

• Industry:

  • Primary (Mining and quarrying)
  • Manufacturing (Manufacture of basic metals)
  • Services (Financial and insurance activities)

• Sources:

  • www.regjeringen.no/, New sanctions against Russia incorporated into Norwegian law, https://www.regjeringen.no/en/aktuelt/new_sanctions/id2905508/, 24 Mar 2022
  • https://lovdata.no/, Regulations relating to amendments to the Regulations on restrictive measures concerning actions that undermine or threaten the territorial integrity, sovereignty, independence and stability of Ukrain, https://lovdata.no/dokument/LTI/forskrift/2022-03-24-448, 24 Mar 2022