Norway has made it clear that it will not give in to Poland’s demand to share its growing profits from oil and gas trade — RT World News

 The Norwegian people and their economy are also suffering from soaring oil and gas prices, according to Oslo

Norway has made it clear that it will not give in to Poland’s demand to share its growing profits from oil and gas trade with Warsaw or Kyiv.

On Sunday, Polish Prime Minister Mateusz Morawiecki claimed that Norway would earn an additional 100 billion euros ($106.9 billion) from energy sales this year due to soaring oil and gas prices caused by the conflict in Ukraine and the international sanctions against Russia.

“They should share those excess profits. It’s not normal, it’s unfair. This is an indirect attack on the war started by [Russian President Vladimir] Putin “, insisted the Prime Minister, adding that Oslo should not necessarily send its money to Poland, but to Ukraine.

Morawiecki also urged young Poles to shame their Norwegian “friends” on massive online gas profits to push the country to share the wealth.

• However, Norwegian Deputy Foreign Minister Eivind Vad Petersson questioned Morawiecki’s calculations on Monday.

He explained that excess oil and gas revenue goes into the country’s pension fund, also known as the Petroleum Fund, which was established in 1990 to ensure that this wealth benefits current and future generations of people. Norwegians.

“Although oil revenues increased following the war in Ukraine, the value of the fund fell,” Vad Petersson pointed out.
Since the start of the year, the pension fund has lost 550 billion Norwegian kroner (about $56 billion) due to the stock market turmoil, the diplomat said.

“The Norwegian economy and Norwegian consumers are also affected by rising electricity and gasoline prices,” he added.

Also on Monday, the Polish government, which is a strong supporter of kyiv in its conflict with Moscow, announced the termination of its natural gas supply contract with Russia without waiting for it to expire at the end of 2022.

“After 30 years, it can be said that relations in the gas industry between Poland and Russia have ceased”, Piotr Naimsky, Polish Commissioner for Strategic Energy Infrastructure, said of the decision.