Norway adopts the EU's sixth sanctions package against Russia
Today, on 17 June 2022, Norway adopted additional Russia related sanctions, by largely implementing sanctions equivalent to the EU's sixth sanctions package (which was adopted by the EU on 3 June 2022).
In summary, and largely in correspondence to the measures that are further described in our previous update on the EU's adoption of its sixth package, the measures adopted by Norway today broadly include:
- Import of oil and petroleum products: Prohibition on the purchase, import and transfer, directly or indirectly, of crude oil and petroleum products listed in annex XXV if they originate in Russia or are exported from Russia. However, it should be noted that, as within the EU sanctions, the prohibition does currently not apply to certain (listed) crude oil which is delivered by pipeline from Russia to Norway or EU member states (until Norwegian sanctions authorities decides otherwise by amending the regulation).
There are also restrictions on the direct or indirect provision of related services, such as technical and financial assistance.
The restrictions are subject to certain transition periods. Further, there are certain exceptions and derogations available (some of them temporarily), for instance related to prior contracts and imports into certain member states.
- Oil transport services: Prohibition from insuring and financing the transport, in particular through maritime routes, of oil to third countries.
- Additional export restrictions, inter alia on various chemicals which can be used to produce chemical weapons.
- Services restrictions: Ban on the provision of certain business-relevant services such as accounting, public relations and consultancy services, as well as cloud services, to Russia.
There are some exceptions, for example relating to prior contracts and services strictly necessary for the exercise of the right of defence in judicial proceedings.
- Additional SWIFT restrictions: Removal from SWIFT of three additional Russian credit institutions.
In addition, the EU's sixth package included additional asset freezing measures.
Further details on the above sanctions, including wind-down periods, exceptions and derogations (where available), may be found in this amendment made to the Norwegian sanctions regulation relating to Ukraine (which has not yet been published in an updated consolidated version) of 17 June 2022. Norwegian authorities have also described the measures in this press release.
The Norwegian sanctions enter into force today, 17 June 2022.