The Norwegian authorities were cautious of the sale of a plot of land in Svalbard to foreigners, as the buyer was suspected to have ties with China.
A plot of about 60 square kilometers in Svalbard is for sale for 300 million euros. This is the last free private plot in the Far North on sale.
Potential buyers from China have shown interest in the deal, but the Norwegian authorities have been wary of such interest from foreigners.
According to Cecilia Mirset, Minister of Trade and Industry, "this could disrupt stability in the region and potentially jeopardize Norway's interests." Currently, the site is owned by a company that is under the control of a Russian woman with Norwegian citizenship.
The Arctic archipelago of Svalbard is a demilitarized zone and is regulated by special legal norms. Other countries have the right to develop natural resources in this territory, newdaynews.ru reports.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
