Norway bars deals with 33 more Russian financial institutions—and 22 more from India to Nigeria

Norway has implemented a new set of sanctions against Russia, targeting banks, oil refineries, ports, airports, and suppliers of Russia's military industry. These measures mirror the EU's 21st sanctions package, adopted in July, with the EU's 22nd package primarily listing names. Norway, despite not being an EU member, has joined every EU sanctions package against Russia, with a few exceptions and national adjustments. The new sanctions were politically backed by Oslo on August 11 and took effect on October 21.

The package includes new tools against the shadow fleet, which consists of tankers with unclear ownership that Russia uses for oil transportation around sanctions. Norwegian authorities found that this fleet poses a growing threat to security and the environment along Norway's coast. The transaction ban now covers 33 additional Russian credit and financial institutions, while a separate ban covers 22 more entities abroad, including India, Mongolia, Nigeria, and the UAE.

The sanctions also target listed refineries in Russia and third countries processing Russian oil or helping circumvent sanctions. Two Russian ports and four Russian airports, including Moscow's Sheremetyevo, have been added to the ban. Export curbs on dual-use goods now cover 51 new entities involved in Russia's military industry, with some located in China, including Hong Kong, and others in India, Kazakhstan, Kyrgyzstan, Türkiye, and the UAE.

These banned exports include nickel, beryllium powder, and various drone gear, such as jamming and interception systems, launchers, and servo motors.

Furthermore, Norway can now list ships that service sanctioned shadow fleet tankers or exchange cargo with them at sea. This follows previous actions by the French navy and UK forces, who have boarded sanctioned shadow fleet tankers in the region.