"Russia isn't such a large economy so it doesn't have that big an impact on our European economy," Solberg said yesterday in an interview at her office in Oslo.
Read also: Norway Introduces Sanctions Against Russia
Norway, which isn't a European Union member, backs U.S. and EU economic sanctions that have pushed Russia's $2 trillion economy to the brink of recession. Russia has retaliated with its own trade bans, including stopping salmon imports from Norway, the world's largest salmon exporter. Norwegian salmon farmers shipped about 9 percent of their produce to the Russian market in the first half. While sanctions and counter sanctions have hurt primarily the fishing industry, there's still "good growth in Norway," she said.
Norway won't stop companies doing business with their Russian counterparts as long as they comply with sanctions, Solberg said. Statoil, the nation's biggest energy company, has continued to partner with Russia's Rosneft in oil and gas projects in Russia even after sanctions.
"On some issues, it's business as usual because it's beneficial to both of our countries," Solberg said .