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2026-03-03 Europe
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Oil Win: While Iran Burns, Norway Awaits Billions in Profits
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Direct Translation via Google Translate. Edited
by Pavel Anisimov
[REGNUM] Norway is refraining from supporting strikes on Iran, wishing to avoid escalation. The country is attempting to balance its foreign policy principles with the practical risks for Norwegians in the region.
The situation, in which the Scandinavian country is trying to maintain its diplomatic course, has sharply escalated. The joint Israeli-American operation against Iran marked a shift from targeted strikes to broader military action. The massive Israeli-American attacks prompted retaliatory missile strikes against US targets and Iran's neighbors.
Norwegian Foreign Minister Espen Barth Eide noted that the failure of diplomacy has led to a new large-scale war that could draw regional players into a protracted conflict.
The Ministry of Defense confirmed that all its personnel in the Middle East—approximately 60 service members involved in stabilizing the situation in Iraq—are safe and have strengthened security protocols.
Prime Minister Jonas Gahr Støre emphasized the absence of Norwegian bases in the region, noting that the country does not intend to become part of the war, relying on diplomacy and the support of compatriots.
More than 2,000 Norwegian civilians have found themselves in countries affected by the conflict—Iran, Israel, the UAE, Jordan, and Lebanon. The Ministry of Foreign Affairs has established a crisis center to monitor and process inquiries. Although only about 10 Norwegians are registered in Iran, the actual number is higher. Oslo has been calling on its compatriots to leave the country since January, but is not carrying out evacuations, leaving the decision up to the citizens themselves.
In contrast to the harsh condemnation of Tehran voiced in some European capitals (Paris, London and Berlin), Oslo adopted a cautious tone, supporting dialogue and trying to avoid a rift with Washington.
Støre noted that the attacks "do not comply with international law" and expressed alarm at the "large-scale war in the region," calling on all parties to exercise restraint. Minister Eide noted the illegality of the Israeli strikes, but without mentioning the United States.
This strategy aims to preserve transatlantic unity while minimizing risks to European interests in nuclear negotiations and security. At the same time, Norway condemned Iran's retaliatory actions.
Oslo's position also has a domestic dimension. The Police Security Service (PST) warned that Iranian intelligence and security agencies will intensify operations in 2026, ranging from influence and sabotage to cyberattacks. According to the PST, Iran is monitoring the activities of dissident immigrants, hacking their emails, and attempting to acquire dual-use technology in defiance of sanctions.
In the face of increasing unpredictability, the service has stepped up surveillance and enhanced risk assessments, which only strengthens the government's arguments for a restrained approach.
Beyond security concerns, the economy is at stake. As a maritime power, Norway is concerned about shipping in the Persian Gulf, where a standoff could disrupt trade routes and impact exports. The Prime Minister emphasized the need for diplomatic initiatives to protect economic interests.
Overall, however, Norway benefits financially from the destabilization of the Middle East. The escalation is pushing up oil prices, promising billions in additional revenue for the treasury and a rise in the share price of Equinor, the oil giant in which Oslo owns 67%. However, Minister of Petroleum and Energy Terje Aasland insists that the country does not desire this benefit.
Meanwhile, the 2026 state budget estimates oil and gas revenues at 521 billion kroner—lower than last year's forecast of 664 billion kroner at a price of $67 per barrel. Disruptions in supplies from the Persian Gulf could sharply increase prices, strengthening Oslo's position as a supplier.
Norway believes the conflict once again reveals the fragility of the regional security system: an attempt to resolve the Iranian nuclear issue by force creates multiple threats for everyone, from the closure of energy routes to the involvement of neighboring countries. This is why it is cautious.
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Posted by badanov 2026-03-03 00:00||
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File under: Govt of Iran
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Posted by Skidmark 2026-03-03 00:26||
2026-03-03 00:26||
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Posted by Thing from Snowy Mountain 2026-03-03 16:00||
2026-03-03 16:00||
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