In 2021 Lerøy and other Norwegian seafood producers are banned from Russia. This was initiated in August 2014 when Russia decided to ban the import of Norwegian seafood in response to sanctions imposed by the US, the EU and others for the annexation of Crimea.
Sanctions adopted by the EU are implemented in Norwegian law on the basis of the Sanctions Act. Violation of the Sanctions Act is punishable and can result in a corporate penalty.
With the new sanctions, it will be very demanding for Lerøy to have business activities related to Russia, disputed areas in Ukraine (Crimea, Donetsk and Luhansk) and Belarus. In light of the sanctions Lerøy have stopped all shipments to these areas.
Since the Russian ban origin from 2014, the economical impact is low.