The Norwegian government Fund discusses withdrawal of funds from Russia in case of toughening of sanctions against Russia, reported Bloomberg agency.
“If our oil incomes invested in Russia are under the threat of sanctions, we will have to introduce certain amendments to adjust to the new situation,” said Runar Malkenes, press officer of the Norwegian Ministry of Finance.
Marte Skaar, press officer of the government fund, total volume of which is estimated at $890 billion, said that the governmental delegation studies situation in Russia. Ingve Slingstad, Executive Director of the Fund, admitted that Norway has invested a significant amount into Russia.
Annual financial report shows that almost $3.6 billion has been invested into the shares and another $4 billion into the corporate and state securities. Skaar refused to answer Bloomberg’s question if the Fund has started withdrawing money from the Russian economy yet.
Norway supports the European sanctions against Russia. Although this Scandinavian country is not EU member and it is not obliged to follow its rules, many Norwegian politicians believe that it is necessary to withdraw money from Russia.
