Norway joins the 10th package of EU sanctions against Russia

Norway has introduced a new set of sanctions against President Putin and the Russian regime. These sanctions mirror the EU’s tenth package of sanctions, which was adopted by the EU on 25 February 2023.

The restrictions include an import ban and price caps on crude oil and petroleum products. In February, Russian tax revenues from the oil and gas sector fell by 46% compared to pre-war levels.  

According to the decision, Norway added 87 more individuals and 34 legal entities to the sanctions list. The country's sanctions list now includes 1678 individuals and legal entities.

The sanctions also provide for additional reporting obligations on frozen assets and assets to be frozen; additional reporting obligations on the assets of the Russian Central Bank and on securities and money market instruments issued by Russia.

Source: Norwegian government