Norway, which shares a border with Russia in the Arctic but is not an EU member, has made it clear that it will not be the sole guarantor for an EU loan to Ukraine. This decision comes amidst the European Commission's proposal to provide Ukraine with a €140 billion interest-free loan secured against frozen Russian assets, which would only need to be repaid if Russia pays reparations after the war. The plan, although supported by some, faces significant opposition, particularly from Belgium, due to concerns over Russian retaliation. The Norwegian government has indicated that while it may consider contributing under certain proposals from the EU, using its substantial sovereign wealth fund to back the loan is out of the question. Norwegian Finance Minister Jens Stoltenberg firmly stated that the country would not guarantee the entire sum, emphasizing Norway's desire to avoid setting a dangerous precedent regarding Russian assets. Prime Minister Jonas Gahr Støre also expressed concerns about the safety of Norway's wealth fund investments globally. This strategic stance comes as Ukraine continues to struggle with financial support and faces internal corruption scandals that jeopardize its ongoing governmental functions. Norwegian officials recognize the fragile situation in Ukraine and have pledged continuous financial aid through direct donations, earmarking significant funds for military and civil support from 2023 to 2030. With the European Council set to discuss this issue in December, Norway's reservations reflect a cautious approach to international financial commitments, especially in the context of the ongoing conflict with Russia and its implications for geopolitical stability.