Norwegian Oil Fund freezes investments in Russia

The Norwegian Oil Fund decided to freeze investments in Russia due to the situation in Ukraine, said the Minister of Finance of the Kingdom Trygve Vedum.

“The State Pension Fund is freezing investments in Russia and will eventually cancel them. We are doing this because we want to make it clear that what we have seen lately is unacceptable,” Wedum said at a press conference that was broadcast on the Internet.

He noted that at the beginning of the year, the fund’s investments in the Russian market amounted to NOK 25 billion.

The EU bans the supply of goods and technologies for oil refining to Russia The European Union prohibits the supply of goods and technologies for oil refining to Russia, according to a document published in the Official Journal of the EU.