Reported about 1 year ago
On July 1, 2024, the Norwegian government announced the cancellation of the sale of the last piece of private land near the Arctic Circle in the Svalbard archipelago to prevent potential acquisition by individuals or companies from mainland China, strengthening efforts to block Chinese influence over strategic territories. The location of the case is a privately owned area of about 60 square kilometers called Søre Fagerfjord in southwestern Svalbard. The sale cancellation aimed to prevent specific parties from expanding their geopolitical influence over this strategically important area due to its proximity to the North Sea and Russia's Northern Fleet base.
Source: YAHOO