Norway Hits Russian Banks, Crypto, and Shadow Fleet in Line With EU’s 21st Package

Norway has introduced a comprehensive new sanctions package against Russia, aligning its national measures with the European Union’s 21st sanctions package.

The updated restrictions take effect on October 21, following regulatory adjustments enacted by the Ministry of Foreign Affairs, European Pravda reported.

The new measures establish broad economic restrictions targeting key pillars of the Russian economy.

Under the expanded framework, strict curbs apply to financial institutions, oil projects, cryptocurrency platforms, and military-industrial facilities supporting Russia’s full-scale invasion of Ukraine.

The measures also tighten monitoring of the shadow fleet used to transport Russian oil and expand existing restrictions across various export and import channels.

Norwegian officials stated that these policies aim to apply further financial pressure on Russia and restrict its capacity to fund ongoing aggression.

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Life in Ukraine

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On October 8, 2026, the European Union extended sanctions against individuals and entities linked to Russia’s destabilizing activities abroad for another year, maintaining the measures until October 9, 2027, as announced by the Council of the European Union.

The restrictions applied to 80 individuals and 20 entities, subjecting them to asset freezes and travel bans, while prohibiting EU citizens and companies from making funds or economic resources available to them.

Official statements noted that the decision reflected Russia’s continued and intensified hybrid operations across Europe, which included foreign information manipulation, cyberattacks, sabotage, and interference targeting the EU, its member states, and partner countries.

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