Norway is concerned about a potential sale of a large plot of land in the Arctic Svalbard archipelago for approximately $330 million due to national security implications. Søre Fagerfjord, the last privately owned land in Svalbard, is being considered for purchase by a group of international and Norwegian investors, which could potentially give foreign powers a strategic position in the sensitive Arctic region. The land, located 60 kilometers from Longyearbyen, has been under Norwegian ownership for over a century, and any sale must be pre-approved as per security laws. Although the buyers, who describe themselves as environmentalists from NATO countries, intend to use the funds for environmental projects, Norwegian officials remain cautious, as they previously blocked a similar sale to Chinese investors in 2024. The 1920 treaty governing Svalbard grants over 40 countries, including Russia, China, and the U.S., equal rights to live and conduct business there, leading to accusations from Russia against Norway of treaty violations regarding military presence, which Norway denies.

Norway is apprehensive about the sale of Søre Fagerfjord, a 60 square kilometer land plot in the Arctic Svalbard archipelago, for $330 million due to potential national security threats.

The property is the last privately owned land in Svalbard and international and Norwegian investors have shown interest in acquiring it, raising fears of foreign strategic influence in the Arctic.

Located 60 kilometers from Longyearbyen, the land has been under Norwegian control for over a century, and the government mandates that any sale must comply with national security regulations.

The purchasing consortium claims to be environmentalists from NATO countries, aiming to protect the land from environmental changes, with intentions to allocate half the sale’s proceeds to environmental projects.

Norwegian officials are wary of the sale, recalling a blocked attempt by Chinese investors in 2024, citing risks to regional stability and national interests.

Svalbard is regulated by a 1920 treaty allowing over 40 nations, including Russia, China, and the U.S., equal rights to inhabit and conduct business, leading to Russian accusations against Norway of military overreach, which Norway disputes.

Buyers have not yet engaged with the Norwegian government regarding the transaction, while their legal representative argues the sale's environmental protection motives should prevent it from being obstructed.