Norway Is a Ukraine War Profiteer
The Norwegian finance ministry recently revealed just how much the country has benefited from Russia's invasion of Ukraine, estimating its windfall natural-gas revenues for 2022-23 to be around $111 billion. Yet rather than transferring these gains to those on the front line, the government is hoarding them.
EDINBURGH/TRONDHEIM – When Russian President Vladimir Putin gave the order to invade Ukraine in February 2022, he surely did not expect that one of Russia’s neighbors would be the main beneficiary of his war. Yet as Russian hydrocarbon exports to Europe cratered in the wake of the invasion, Norway emerged as the continent’s largest supplier.