This sanctioned Bank is now Norway’s most valuable asset in Russia

Sberbank is sanctioned by Norway and the European Union, but that did not hinder the Norwegian wealth fund to increase its share to 0,83%, the annual report 2020 shows. Norwegians are not allowed to buy or sell new bonds, equity or similar financial instruments with a maturity exceeding 90 days issued by Sberbank. This follows the European Union’s sanctions from 2014 after Moscow’s annexation of Crimea and destabilizing the situation in Eastern Ukraine. Norway follows the EU sanctions word-by-word. The sanctions, however, do not hinder Norway’s Government Pension Fund Global, known as the wealth fund, to buy more shares in…