Norway has introduced a new package of sanctions against Russia: banks and energy are subject to restrictions

Norway has introduced a new package of sanctions against Russia, which is in line with the EU’s 21st package. The restrictions apply to Russian banks, the oil industry, cryptocurrencies, and the “shadow fleet.” They will come into effect on October 21.

This is reported by “European Truth” with reference to the Norwegian government.

The new sanctions cover several sectors of the Russian economy. In particular, Norway is tightening restrictions on banks, oil companies, and enterprises that work for the Russian defense industry.

Cryptocurrency services and Russia’s “shadow fleet” are also subject to sanctions. In addition, the country is expanding restrictions on the import and export of goods.

The Norwegian government explained that in this way they want to increase pressure on the Russian economy and reduce Moscow’s ability to finance the war against Ukraine.

The Norwegian Ministry of Foreign Affairs has already made the necessary amendments to the regulations. The new sanctions will come into force on October 21, 2026.

As a reminder, on October 15, the Council of the European Union imposed additional sanctions against three individuals and nine companies that helped Russia circumvent European restrictions . These include the supply of prohibited goods to the Russian Federation, financial transactions, and trade in Russian oil.