Norwegian Companies Have Positive Prospects for Working in Russia

Norwegian companies have positive expectations for doing business in Russia and currently are considering options for investments despite anti-Russian sanctions.

Representatives of Norwegian companies working in Russia have positive prospects for their activities in the country and are considering new business possibilities despite sanctions, Aftenposten reports.

The media outlet cites a report by Heidi Olufsen, the Consul General of Norway in St. Petersburg, on a meeting between Norwegian businessmen and consulate officials.

"Despite the economic decline, a potential for investments is visible in many segments of the Russian economy, including agriculture and the forest industry," Olufsen wrote as cited by Aftenposten.

The official also underscored that now Norwegian businessmen have more positive expectations from working in Russia than six months ago.

Particularly, the media outlet cites Bernhard Storemyr, a representative of fertilizer manufacturer Yara. He believes that there are numerous opportunities [for doing business in Russia] "if the Russian economy grows".

Norwegian oil and gas giant Statoil is also looking for ways to enhance cooperation.

"We have worked out the necessary measures and established a dialogue with authorities to prevent breaching the sanctions regime," Jannik Lindbek, a Statoil representative, explained.

In addition, the participants of the meeting expressed doubts that the sanctions would be able to force Russia to change its policy.

"Russia will never give Crimea back," the report concludes.