Norwegian restricitive measures

See below news update regarding restrictive measures against Russia introduced in 2022 and earlier.

Ministry of Foreign Affairs of Norway has set up a phone line for business and industry: +47 23 95 15 15.

The line will be operated between 10.00 CET and 14.00 CET on weekdays. The Ministry of Foreign Affairs will not be able to provide specific legal advice, but will assist in answering questions as far as possible.

Business community can also email questions to: sanksjoner(at)mfa.no.

Follow updates on Export Control’s information page about Export of goods, technology and services to Russia.

New Sanctions Package against Russia is incorporated into Norwegian law

 

Regulation FOR-2022-03-18-411 amending Regulation on restrictive measures related to actions that undermine or threaten Ukraine's territorial integrity, sovereignty, independence and stability (FOR-2014-08-15-1076) entered into force in Norway on 18 March 2022.

Here comes a short summary of the regulation with links to relevant lists of sanctioned individuals, entities, products and services.

Financial restrictive measures

Updates in the regulation include:

  • Asset freeze for 877 individuals and 62 entities from EU’s consolidated sanctions list.

The regulation refers to the list of sanctioned individuals and entities published in the Financial Sanctions Database - FSF platform (you need to create login in order to get access and use land code/programme “UKR”).

The list of persons and entities sanctioned by EU is kept under constant review and is subject to periodic renewals by the EU Council.

You can also see these EU Council Decisions in chronological order.

  • Ban on trade with transferable securities and money-market instruments issued by a wide range of Russian financial institutions and legal entities (Chapter 2 § 8b-8c, in Norwegian. See also Annex V, Annex VII, Annex VIII, Annex XIII and Annex XIV for lists of legal entities referred to in § 8b ).
  • A limit of 100 000 euro is placed on deposits from Russian individuals and entities (Chapter 2 § 8d, in Norwegian).
  • Prohibition is placed on public financing or financial assistance for trade or investments in Russia as well as investments in projects co-financed by the Russian Direct Investment Fund (Chapter 2 §8j, in Norwegian).
  • From 28 March 2022, prohibition is placed on specialized financial services to a number of Russian banks (Chapter 2 § 8k, in Norwegian. See also Annex XV for legal entities referred to in § 8k).
  • It is prohibited to sell, supply, transfer or export banknotes in euros to Russia or for use in Russia (Chapter 2 § 8l, in Norwegian).

Sectoral restrictive measures

  • Ban on export, import and transportation of defence-related products (see full list in English from page 2).
  • Ban on export of dual-use products and technology (see full list in English from page 25). Exceptions apply and MFA of Norway can grant export licenses for dual-use products and technology, but not in cases when the end-user is one of the entities listed in Annex VI and referred to in § 16.
  • Ban on export of certain categories of products and technologies that may contribute to strengthening Russia's military and technological capabilities including a wide range of electronics, computers, telecoms, information security (crypto), sensors and lasers, navigation and avionics, as well as goods for marine use, aerospace and propulsion (see Annex IX for list of goods and technologies referred to in § 16a and § 16b, available in English).
  • Ban on export of products and services for oil industry is updated with a ban on products used for oil refining (See Annex XI for list of products and technologies referred to in § 17b).
  • Ban on export of products for use in aviation and space industries (See Annex XII for list of products and technologies referred to in § 17c).

Regulation also includes additional stricter restrictive measures for Crimea and Sevastopol (Chapter 3 §§ 9-14, in Norwegian) and areas of Luhansk and Donetsk (Chapter 3A §§ 14a-14f, in Norwegian).

These measures include:

  • an import ban on goods;
  • restrictions on trade and investment related to certain economic sectors and infrastructure projects;
  • a prohibition on supplying tourism services;
  • an export ban on certain goods and technologies.

 


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