Norway announced sanctions against Russia

The Government of Norway announced new sanctions against Russia and its president, Vladimir Putin, in retaliation for the invasion of Ukraine and in line with the latest series of restrictions adopted by the European Union on February 25, 2023, on the occasion of the first anniversary of war.

With these latest sanctions, there are already 1,678 Russian natural and legal persons sanctioned by the authorities of the Nordic country after adding the 87 physical and 34 legal entities announced this Tuesday.

“It is essential that we maintain pressure on the Russian government and its allies. The sanctions are having an impact on the Russian economy and are preventing key resources from reaching the Russian war industry,” Norwegian Foreign Minister Anniken Huitfeldt stressed.

“Norway stands united with the rest of Europe and has aligned itself with all the EU sanctions packages. We stand in solidarity with the people of Ukraine and fully support their fight for freedom,” said the head of Foreign Affairs.

Some of these sanctions include limiting the price of oil and its derivatives, as well as prohibiting their import, which “is severely affecting the Russian economy. In February, oil revenues fell by 46 %, according to the Foreign Ministry.

“The sanctions are becoming more extensive and represent a strong and clear European response to Russia’s aggressive war in Ukraine. Opportunities to engage in business with Russia have been significantly reduced and carry high risk,” Huitfeldt explained.

K. Tovar

Source: Notiamerica

(Reference image source: file)

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