Jump to main content Go to search page
Finanstilsynet
Search
Home >
News archive >
Sanctions against Russia incorporated into Norwegian law

Sanctions against Russia incorporated into Norwegian law

News

Published: 18 March 2022

In response to Russia's illegal attack on Ukraine, the Norwegian government has today imposed extensive sanctions. Finanstilsynet asks all supervised institutions to ensure that they have good procedures and systems in place to ensure compliance with the regulations.

The sanctions are a comprehensive addition to the sanctions imposed by Norway in 2014 following Russia's annexation of Crimea. Implementation of the sanctions regulations is enforced by the Ministry of Foreign Affairs, which today has laid down regulations on restrictive measures. The regulations enter into force immediately. 

The regulations mainly correspond to measures adopted by the EU up to and including 9 March 2022. On 15 March 2022, the EU adopted further measures that the government is now considering, aiming to ensure rapid incorporation into Norwegian law. Violation of the measures is a criminal offence.

If institutions identify customers or transactions subject to sanctions and restrictive measures, they are under an obligation to notify the Ministry of Foreign Affairs. Finanstilsynet asks for a copy of such notifications.

Read more:

  • Press release from the Ministry of Foreign Affairs
  • The regulations – Lovdata (in Norwegian only)  
  • European Banking Authority’s statement on sanctions

Related

  • Updated guidance to the asset freeze provisions

Press contacts

Phone: +47 40 90 03 50
(8 am - 9 pm)

  • Press contacts

News alerts

Register here to receive notifications when Finanstilsynet publishes documents you are interested in.

  • Sign up for news alerts
To the top of the page expand_less

Did you find what you were looking for?

Share this page:

  • Twitter
  • Facebook
  • LinkedIn
Sign up for news updates
  • Media enquiries
  • Contact
  • Notifications to Finanstilsynet
  • Information about eCommunication
  • Privacy policy and cookies
  • RSS

Visitor address:
Revierstredet 3, 0151 Oslo

 

Postal address:
P.O. Box 1187 Sentrum
NO-0107 Oslo
Norway

 

Phone: +47 22 93 98 00 
E-mail: post@finanstilsynet.no

 

Organisation number:
840 747 972

To the top of the page expand_less