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Norway Exported Smolt to Russia for Over Nok 200 Million in 2025

Smolt production is a crucial phase in the farming of salmon and trout. In this phase, the fish swim in tanks with freshwater before eventually being released into saltwater.

Even though most Norwegian companies have ended their cooperation with Russian actors, Norway still delivers large quantities of salmon smolt to Russia.

Linn Ophaug
Linn Ophaug Journalist
Birgitte Annie Hansen
Birgitte Annie Hansen Translator
Published

The Norwegian export of smolt to Russia increased significantly in 2025, despite large parts of the seafood industry withdrawing from the Russian market following the war in Ukraine.

Export activity between Norway and Russia

  • Russia imposes import ban on Norwegian fish

    After Russia's annexation of Crimea, Western countries, including Norway, imposed strict sanctions. Russia responded with an import ban on Norwegian seafood, except for smolt and roe.

  • Smolt export continues

    Russia continues to import smolt from Norway. Wellboats regularly travel between Norway and Murmansk.

  • BioMar and Skretting stop export to Russia

    Shortly after Russia goes to war against Ukraine, BioMar stops all export to Russia. A few months later, Skretting confirms to DN that they also stop the export.

  • Cargill stops export to Russia

    American-owned Cargill Norway informs iLaks that they would stop selling Norwegian-produced fish feed to Russian customers.

Figures from Statistics Norway (SSB) indicate that the export value reached NOK 218 million in 2025, a doubling from the previous year.

Increased smolt export

As a response to Western sanctions after the annexation of Crimea, Russia imposed an important ban on Norwegian fish and a number of other goods in 2014. Before this, Russia was one of Norway's most important seafood trading partners.

Since Russia's invasion of Ukraine in 2022, Norway has followed the EU's sanctions policy. The UN simultaneously concluded that food products were not to be sanctioned. That entails that the export of smolt remains legal, provided that transport and trade comply with Norwegian and European regulations.

This cannot be exported to Russia

  • Defense materials
  • Dual-use goods and technology
  • Certain oil industry products
  • Goods that can contribute to strengthening Russia's military and technological capabilities
  • Goods for use in oil refining
  • Goods for use in the aviation and space industry
  • Goods intended for maritime navigation
  • Luxury goods

Source: DEKSA

This has created a legal loophole that some Norwegian actors still take advantage of, while others have chosen to withdraw for ethical reasons.

Three of Norway's largest feed producers, BioMar, Skretting, and Cargill, all ended export to Russia in 2022 and 2023. They state ethical considerations and a desire not to contribute to Russian food production during the war as the reasons for their choice.

Despite this, the value of Norwegian smolt exports to Russia has increased significantly. The export value rose from NOK 102 million in 2024 to NOK 218 million in 2025, a 113 percent increase.

Norwegian smolt export to Russia in value

The value of Norwegian smolt export to Russia has skyrocketed in recent years. Source: SSB

The amount of smolt sent eastward has also increased. In 2025, 758.34 tons of smolt were exported to Russia, nearly double the 2023 level of 392.21 tons.

Norwegian smolt export to Russia in tons

Since 2023, the amount of Norwegian smolt export to Russia has increased significantly. Source: SSB

Unclear who is behind the smolt export

According to The Barents Observer, Agaqua is the only Norwegian company still exporting smolt to Russia. High North News has been in contact with both SSB and the Norwegian Customs, but neither wants to disclose which or how many companies are behind the export.

The Norwegian Customs, however, could report that 36 declarations for the export of smolt from Norway to Russia were registered during 2024-2025.

DEKSA, the Norwegian Agency for Export Control and Sanctions, informs HNN that, because smolt is not covered by export control regulations or sanctions against Russia, it has no information on the export of smolt to the country.

The Norwegian Seafood Council also does not have an overview of which of its member businesses export smolt to Russia. The organisation does not wish to take a stance on whether smolt export should be regulated differently from today.

"Each company must make its own assessments on whether it is considered right to trade with Russia or not," writes director Trond Davidsen of the Norwegian Seafood Council, in an email to HNN.

Points to a central supplier

Although it is not publicly known which Norwegian companies are behind the smolt export to Russia, there are several indications that the Agaqua group is accountable for a significant portion of the deliveries.

The group, which is the only one HNN knows of that exports smolt to Russia, supplies smolt to fish farms in the Murmansk region, operated by Inarctica, Russia's largest producer of salmon and sea trout.

Inarctica

Inarctica is Russia's largest producer of salmon and sea trout, with farming facilities primarily located in the Murmansk region. In recent years, the company has built up an extensive salmon industry in the country.

In 2017, Inarctica acquired several Norwegian smolt and farming companies, which Arne Geirulv later bought back in 2022.

The company was previously heavily dependent on Norwegian smolt and fish feed, but has built up its own production in recent years. Inarctica now owns two smolt factories in the Kaluga region, one in Nizhny Novgorod, and is building a new factory in Karelia, in the city of Kondopoga.

According to the company's annual report, Inarctica reported revenue of 31.5 billion rubles in 2024 - around four billion Norwegian kroner.

Agaqua is wholly owned by Arne Geirulv and includes, among others, Setran settefisk, the Olden companies, Olden fish farm, Øyralaks, Villa smolt, and Villa sea. Olden fish farm and Villa smolt have a combined production capacity of up to 7 million smolt per year, according to the group's website.

Arne Geirulv is no longer an active board member in Inarctica.

Several of these companies were acquired by Russian Aquaculture, now Inarctica, in 2017. Geirulv served on Inarctica's board from 2016 to 2022 and is still listed on the company's website as a non-executive board member.

HNN has not succeeded in contacting Arne Geirulv.

When Russia invaded Ukraine in 2022, uncertainty arose around Russian ownership in Norway. In December of the same year, Geirulv bought back the Russian-owned Norwegian companies and established the Agaqua group as it appears today.

Agaqua AS had a turnover of NOK 10.8 million in 2024. The group as a whole recorded sales revenues of NOK 232 million the same year.

smolt russia export sanctions agaqua business
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