Newsletter: The Unintended Consequences of Sanctions
The Russian attack on Ukraine draws more and more sanctions. (Photo of The red square in Moscow: Trine Jonassen)
Dear HNN reader! After three weeks of war in Europe, the economic sanctions’ effect on the High North starts sinking in.
The new sanctions against Russia hit hard for business and societies in the High North. This week, Norwegian Trade Minister Jan Christian Vestre (Labor) visited businesses in Eastern Finnmark to meet with companies that may be hit.
“He brought with him a rather unhistorical understanding of Norwegian-Russian business cooperation”, ourEditor-in-Chief Arne O. Holm writes in one of his two commentaries this week. (Norwegian only).
In Iceland, the Fisheries Minister has removed an exemption from the regulations that has hitherto benefited Russian fish trawlers – and with that, access to Icelandic ports is blocked for these. That is a decision that will also hit local business in Iceland hard.
Many opinions
According to former Russia researcher Lars Rowe, the sanctions against Russia are about to create an ideal ground for revolution. (Norwegian only)
However, revolution is not a magic wand, answers Ksenia Novikova, who lives in Kirkenes. She says this expectation against the Russian people should be nuanced and aimed towards the country’s oligarchs.
The Arctic Economic Council has also condemned the Russian invasion of Ukraine and changes its scheduled annual meeting in St. Petersburg. An action referred to by the Russian MFA as politicized and irrational.
Military exercise well underway
Right in the middle of the chaos caused by the war, the Norwegian-led NATO exercise Cold Response 2022 is running its course. It is set to commence in just a few days.
This week, a British carrier left England to serve as NATO’s command ship during the exercise.
Meanwhile, the Chief of the Norwegian Joint Operations HQ confirms that the communication channel with the Russian Northern Fleet is used to take up unwanted incidents.
In the USA, the Armed Forces work on being better prepared to operate in an Arctic climate.
Money vs principles
In the lead-up to the weekend, Editor-in-Chief Arne O. Holm in his Friday commentary writes that Norway as a nation is on collision course with its primary ideals.
“We chase political action rules that are contrary to our political visions because we constantly chase short-term profits, politically as well as economically”, he says.
You will also find other news at High North News. And feel free to share our newsletter with others who want to read news from the global Arctic.
With our best regards,
Trine Jonassen,
News Editor, High North News