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Norway refuses to share oil and gas revenues

Norwegian Ministry of Foreign Affairs

Norwegian Ministry of Foreign Affairs in Oslo

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The funds that the Norwegian budget receives from energy trade are sent to the state pension fund. Its volume has significantly decreased against the backdrop of the current geopolitical situation. So the State Secretary of the Ministry of Foreign Affairs of Norway, Eivind Vad Petersson, responded to the proposal of the Polish authorities to Oslo to share oil and gas revenues with Europe.

As the Norwegian politician clarified, since the beginning of 2022, the volume of the Norwegian state pension fund, financed by income from energy exports, has decreased by about 550 billion NOK. One of the reasons Eivind Wad Petersson called the fall of the stock market against the backdrop of the situation in Ukraine, according to Aftenposten.

The increase in the price of electricity and motor fuel has had a negative impact on the lives of Norwegian citizens, the State Secretary of the Norwegian Foreign Ministry stressed.

Earlier, the head of the Polish government said that Norway receives excess profit from the sale of oil and gas, which exceeds the average in recent years. According to the Polish Prime Minister, the “small five million state of Norway” is “indirectly fattening” due to the situation with Ukraine and receives super profits due to high world energy prices, therefore in Oslo “should immediately share this excess, gigantic profit”.

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