Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Headlines

Posted By Global Banking and Finance Review

Posted on February 1, 2025

Norway releases ship suspected of Baltic Sea cable damage

OSLO (Reuters) - A Norwegian cargo ship with an all-Russian crew suspected of damaging a Baltic Sea telecoms cable has been released by authorities in Norway after no link to the incident was found, the police said late on Friday.

The Silver Dania was seized at the request of Latvian authorities and with the help of Norway's coast guard, police in the northern Norwegian city of Tromsoe said previously.

"The investigation will continue, but we see no reason for the ship to remain in Tromsoe any longer. No findings have been made linking the ship to the act (of damaging the subsea cable)," the police said in a statement.

The Silver Dania's owner, the Silver Sea shipping group, denied that the vessel was involved in the incident, Norwegian broadcaster TV2 reported.

Sweden and Latvia are investigating the suspected sabotage on Sunday of the cable linking the two countries.

Swedish police seized and boarded the Maltese-flagged cargo ship Vezhen on suspicion it caused the damage.

The head of the Vezhen's operator, a Bulgarian company, said on Monday it might have struck the cable with its anchor but denied any malicious intent.

Mats Ljungqvist, the prosecutor handling the investigation in Sweden, said on Friday that they had looked at the Norwegian ship, but dismissed its involvement.

The Baltic Sea region is on high alert after a string of power cable, telecom link, and gas pipeline outages since Russia invaded Ukraine in 2022.

The NATO military alliance recently boosted its presence with frigates, aircraft, and naval drones.

(Reporting by Nerijus Adomaitis; editing by Jason Neely)

Recommended for you

  • Trump administration readies reciprocal US tariffs as trade war fears mount

  • Ten million Indians take holy dip on key day of Kumbh Mela festival

  • Inside the collapse of Nissan and Honda's $60 billion mega deal