87-647: Swedbank AB is a Nordic - Baltic banking group based in Stockholm , Sweden, offering retail banking , asset management , financial, and other services. Swedbank has a leading presence in Estonia and has a strong presence in Latvia and Lithuania. The first Swedish savings bank was founded in Gothenburg in 1820. In 1992, a number of local savings banks merged to create Sparbanken Sverige ("Savings Bank Sweden"). In 1995, this bank
174-732: A dependent territory . Little evidence remains in the Nordic countries of the Stone Age, the Bronze Age, or the Iron Age with the exception of a limited numbers of tools created from stone, bronze and iron, some jewelry and ornaments and stone burial cairns. However, one important collection that exists is a widespread and rich collection of stone drawings known as petroglyphs . The Goths , who originated in southern Scandinavia and would later divide into Visigoths and Ostrogoths , are known to have been one of
261-630: A retaliatory strike in conjunction with the German attack on the Soviet Union. However, more territory was lost and for many years to come Finnish foreign policy was based on appeasing the Soviet Union , even though Finland was able to retain its democratic form of government. Denmark and Norway were occupied by Germany in 1940. The Allies responded by occupying Iceland, the Faroe Islands and Greenland. Sweden managed to formally maintain its neutrality in
348-874: A 60% market share of Estonia’s payments. The current Swedbank Headquarters was inaugurated in 2014 in Sundbyberg Municipality . The building was designed by 3XN . In 2023 Swedbank had 7.2 million retail customers and 555,000 corporate customers in Sweden , Estonia , Latvia , and Lithuania . The group has 226 branches in Sweden and in the Baltic countries. It also maintains a presence in Copenhagen , Helsinki , New York City , Oslo , Shanghai and Johannesbourg . Swedbank has close cooperation with about 60 local, but still independent, savings banks who chose not to join during
435-697: A U.S. citizen was convicted of violating the Iran Trade Embargo for failing to request Iranian currency transfer licenses in advance from OFAC. On August 25, 2010, the Iranian American Bar Association announced that it would file an amicus curiae brief with the Court of Appeals for the Second Circuit on United States v. Banki . It has also hired lawyers to request further guidance from OFAC on import of goods from Iran. In 2014, OFAC reached
522-642: A clear day. Even excluding Greenland and the Norwegian islands of Svalbard and Jan Mayen , the remaining part of the Nordic countries covers around 1.3 million square kilometres. This is about the same area as France, Germany and Italy together. To the south, the countries neighbor the Baltic states , Poland, Germany and the United Kingdom, while to the north there is the Arctic Ocean . Notable natural features of
609-545: A court order is required. As of October 7, 2015, the SDN List had more than 15,200 entries from 155 countries. Of those, 178 entries were for aircraft and 575 entries were for ships ("vessels"). The remaining 14,467 entries were for designated individuals and organizations. OFAC creates separate entries in the SDN list for each alias of a designee, so the number of entries does not reflect the number of designees. On September 21, 2021,
696-584: A cryptocurrency exchange was included in the sanctions list for first time for helping launder illicit funds having source from ransomware attacks. The amounts laundered are more than $ 160 million between 2018 and 2021. OFAC publishes a list of Sectoral Sanctions Identifications (SSI), which lists persons, companies, and entities in sectors of the Russian economy (especially energy, finance, and armaments), prohibiting certain types of activity with these individuals or entities by US persons, wherever located. This list
783-522: A heavy influence on the weather in the western coastal zones of Iceland, Norway, Denmark and Sweden. The precipitation is high and snow cover during winters is rare. Summers are generally cool. The further away that one gets from the Atlantic Ocean and the Gulf Stream the colder it gets during the winters. Finland, most of Sweden and the south-eastern part of Norway are influenced by the vast continent to
870-434: A long history of political unions and other close relations but do not form a singular entity today. The Scandinavist movement sought to unite Denmark, Norway and Sweden into one country in the 19th century. With the dissolution of the union between Norway and Sweden (Norwegian independence), the independence of Finland in the early 20th century and the 1944 Icelandic constitutional referendum , this movement expanded into
957-891: A major role in the establishment of the early-modern states in Denmark–Norway and Sweden. Sweden was very successful during the Thirty Years' War , while Denmark was a failure. Sweden saw an opportunity of a change of power in the region. Denmark–Norway had a threatening territory surrounding Sweden and the Sound Dues were a continuing irritation for the Swedes. In 1643, the Swedish Privy Council determined Swedish territorial gain in an eventual war against Denmark–Norway to have good chances. Not long after this, Sweden invaded Denmark–Norway. The war ended as foreseen with Swedish victory and with
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#17328695839651044-542: A political dimension in the joint official bodies called the Nordic Council and the Nordic Council of Ministers. The Helsinki Treaty , signed on 23 March 1962 entered into force on 1 July 1962 and is the political agreement which sets the framework for Nordic cooperation. 23 March is celebrated as the "Nordic Day" as the treaty is sometimes referred to as the constitution of the Nordic cooperation. Several aspects of
1131-508: A record $ 963 million settlement with the French bank BNP Paribas , which was a portion of an $ 8.9 billion penalty imposed in relation to the case as a whole. Appointment as OFAC director is not subject to Senate confirmation. OFAC publishes a list of Specially Designated Nationals (SDNs), which lists people, organizations, and vessels with whom U.S. citizens and permanent residents are prohibited from doing business. This list differs from
1218-658: A series of plateaux and gently undulating plains . The western parts of the mountains are cut by fjords, producing a dramatic landscape. The landscape of Sweden can be described as a mixture of that of Norway, Finland and Denmark. Except at the High Coast the coastal areas of Sweden form lowlands. Sweden has three highland areas, the South Swedish Highlands , the Scandinavian Mountains and the Norrland terrain which
1305-705: A threat to U.S. national security. Founded in 1950 as the Division of Foreign Assets Control, since 2004 OFAC has operated under the Office of Terrorism and Financial Intelligence within the Treasury Department. It is primarily composed of intelligence targeters and lawyers. While many of OFAC's targets are broadly set by the White House , most individual cases are developed as a result of investigations by OFAC's Office of Global Targeting (OGT). Sometimes described as one of
1392-496: Is a financial intelligence and enforcement agency of the United States Treasury Department . It administers and enforces economic and trade sanctions in support of U.S. national security and foreign policy objectives. Under presidential national emergency powers , OFAC carries out its activities against foreign governments, organizations (including terrorist groups and drug cartels), and individuals deemed
1479-496: Is a little lower than the United States, but higher than Canada. In round figures, Iceland's population density resembles Canada's. This list includes dependent territories within their sovereign states (including uninhabited territories), but does not include claims on Antarctica . EEZ+TIA is exclusive economic zone (EEZ) plus total internal area (TIA) which includes land and internal waters. The Kingdom of Denmark includes
1566-404: Is a strong consensus about keeping to the general concept. A central theme in the Nordic model is the "universalist" welfare state aimed specifically at enhancing individual autonomy, promoting social mobility and ensuring the universal provision of basic human rights, as well as for stabilising the economy. In this model welfare is not just aid to those who are in need of it, but a central part of
1653-575: Is executed by OFAC by issuing regulations that direct financial institutions accordingly. As part of its efforts to support the Iraq sanctions , in 2005, OFAC fined Voices in the Wilderness $ 20,000 for gifting medicine and other humanitarian supplies to Iraqis. In a similar case, OFAC imposed and attempted to collect a $ 10,000 fine, plus interest, against peace activist Bert Sacks for taking medicine to residents of Basra ; charges against Sacks were dismissed by
1740-568: Is hardly any wild nature left. Most of the scarce forests are plantations and nearly 60 per cent of Denmark's total area is cultivated or zoned as gardens or parks. On the other hand, in the other Nordic countries there is much wild nature left. Only between 0 and 9 per cent of the land in the other Nordic countries is cultivated. Around 17 per cent of the land area in Iceland is used for permanent meadows and pastures and both Finland, Norway as well as Sweden have large forest areas. The Nordic region has
1827-630: Is maintained following the issuance of EO 13662 Blocking Property of Additional Persons Contributing to the Situation in Ukraine on March 20, 2014, in accordance with 79 FR 16167. On August 13, 2014, the Treasury Department issued guidance for entities under sectoral sanctions. It increased the number of entities on the sectoral sanctions identifications list by adding subsidiaries of entities under sectoral sanctions that hold 50% or greater ownership by an entity under sectoral sanctions either individually or in
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#17328695839651914-747: Is not represented in the territory concerned, according to the Helsinki Treaty. Since 25 March 2001, the Schengen acquis has fully applied to the five countries of the Nordic Passport Union (except for the Faroe Islands). There are some areas in the Nordic Passport Union that give extra rights for Nordic citizens, not covered by Schengen, such as less paperwork if moving to a different Nordic country and fewer requirements for naturalisation . OFAC The Office of Foreign Assets Control ( OFAC )
2001-583: Is president and CEO, while former Swedish Prime Minister Göran Persson is chairman. Swedbank is one of the primary banks in Sweden, together with Nordea , Handelsbanken , and SEB . In 2001, a deal to merge Swedbank (then FSB) with SEB failed as the European Commission thought that the merged company would have had too dominant a position in the Swedish banking market. Today, Swedbank has 7 million private customers and 555 000 corporate customers. Swedbank
2088-481: Is reputed to be the oldest working parliament in the world. However, it was dissolved for much of the first half of the 19th century. In Denmark, Iceland and Sweden elections are held at least once every four years. Finland, Åland and Norway have fixed four-year election periods. Elections in the Faroe Islands and Greenland follow the Danish system of elections. The Danish Folketing has 179 seats, including two seats each for
2175-537: Is the eastern continuation of the Scandinavian Mountains. The South Swedish Highland and the Norrland terrain are separated by the Central Swedish lowland . The topography of Iceland stands out among the Nordic countries for being a bowl-formed highland. Despite their northern location, the Nordic countries generally have a mild climate compared with other countries that share globally the same latitudes. The climate in
2262-565: Is the largest bank in both Estonia and Latvia. On 20 February 2019 Swedish broadcaster SVT revealed that Swedbank is under investigation for alleged link in money laundering scandal by Estonian authorities due to suspicious transactions through Danske Bank which is being investigated in Denmark, Estonia, Britain, France and the United States. Estonian authorities confirmed findings by SVT. At least 40 billion Swedish crowns (£3.3 billion) had been transferred between accounts at Swedbank and Danske in
2349-579: The European Free Trade Association (EFTA). All the Nordic countries are however members of the European Economic Area (EEA). Following the dissolution of the Soviet Union in the 1990s, Nordic countries began partnerships with newly liberated neighbouring Baltic states ( Estonia , Latvia and Lithuania ) by opening Nordic council of ministers' offices in the three countries. The Baltic Assembly started to work together with
2436-681: The Germanic people that would later relate to the fall of the Western Roman Empire and the emergence of Medieval Europe . However, these acquired the Latin culture of Rome . The Nordic countries first came into more permanent contact with the rest of Europe during the Viking Age . Southern Finland and northern parts of Sweden and Norway were areas where the Vikings mostly only traded and had raids, whilst
2523-749: The Nordics or Norden ; lit. ' the North ' ) are a geographical and cultural region in Northern Europe and the North Atlantic . It includes the sovereign states of Denmark , Finland , Iceland , Norway and Sweden ; the autonomous territories of the Faroe Islands and Greenland ; and the autonomous region of Åland . The Nordic countries have much in common in their way of life, history , religion and social and economic model . They have
2610-569: The Protestant Reformation , the main religion became Lutheran Christianity , the state religion of several Nordic countries. Although the area is linguistically heterogeneous, with three unrelated language groups, the common linguistic heritage is one factor that makes up the Nordic identity. Most Nordic languages belong to North Germanic languages , Finno-Ugric languages and Eskimo–Aleut languages . Danish , Norwegian and Swedish are considered mutually intelligible , and they are
2697-465: The Russian invasion of Ukraine , Finland joined NATO in 2023 as did Sweden a year later. The Nordic countries and self-governing regions in alphabetic order – number of inhabitants (2018), area (km ) and population density (people/km ): Denmark is by far the most densely populated country, whilst Sweden, Norway and Finland are low populated and similar to each other from this perspective. Iceland has both
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2784-511: The Schengen Area and only a national ID card is required. Within the Nordic area any means of proving one's identity, e.g. a driving licence , is valid for Nordic citizens because of the Nordic Passport Union. When traveling to other countries than the Nordics, public officials in the foreign services of any of the Nordic countries are to assist citizens of another Nordic country if that country
2871-521: The Treaty of Brömsebro in 1645 Denmark–Norway had to cede some of their territories, including Norwegian territories Jemtland , Herjedalen and Idre and Serna , as well as the Danish Baltic Sea islands of Gotland and Ösel . The Thirty Years' War thus began the rise of Sweden as a great power , while it marked the start of decline for the Danish. To some extent in the 16th century and certainly in
2958-634: The United Kingdom in retaliation for the impressment of American sailors. Predecessor agencies of the Division of Foreign Assets Control include Foreign Funds Control (FFC), which existed from 1940 to 1947, and the Office of International Finance (1947 to 1950). FFC was established by Executive Order 8389 as a unit of the Office of the Secretary of the Treasury on April 10, 1940. The authority to establish FFC
3045-659: The common market as in the EU have been implemented decades before the EU implemented them. Intra-Nordic trade is not covered by the United Nations Convention on Contracts for the International Sale of Goods (CISG), but by local law. The Nordic countries have cooperated closely in the administrative and consular fields since the Nordic Passport Union was established and the Helsinki Treaty concluded. According to
3132-471: The "most powerful yet unknown" government agencies, OFAC has the power to levy significant penalties against entities that defy its directives, including imposing fines, freezing assets, and barring parties from operating in the U.S. Involvement of the U.S. Department of the Treasury in economic sanctions against foreign states dates to the War of 1812 , when Secretary Albert Gallatin administered sanctions against
3219-487: The 11th century, three northern kingdoms emerged in the region: Denmark, Norway and Sweden. Iceland first became a commonwealth before it came under Norwegian rule in the early 13th century. There were several secular powers who aimed to bring Finland under their rule, but through the Second and Third Swedish Crusade in the latter part of 13th and through the colonisation of some coastal areas of Finland with Christian Swedes,
3306-532: The 17th, the Nordic region played a major role in European politics at the highest level. The struggle for dominion over the Baltic Sea and its trading opportunities raged between Denmark–Norway and Sweden, which began to impact upon the neighbouring nations. Sweden prevailed in the long term and became a major European power as it extended its reach into coastal tracts in modern-day Russia, Estonia, Latvia, and – following
3393-571: The 1992 merger. These banks use FSB logos and customers have the same access to independent banks and branches belonging to FSB. Two relatively large independent savings banks, including the one in Skåne , have chosen not to cooperate with Swedbank and continue to use the logo used by Sparbanken before the merger with Föreningsbanken. Together with the independent savings banks, Swedbank has branches all over Sweden. The bank has more than 16,000 employees across its operations in Sweden and abroad. Jens Henriksson
3480-752: The Axis/Allies conflict and avoided direct hostilities, but in practice it adapted to the wishes of the dominant power – first Germany, later the Allies. However, during the Winter War between Finland and Russia in 1939–1940, Sweden did support Finland and declared itself "non combatant" rather than neutral. Compared with large parts of Europe, the Nordic region got off lightly during the World War II, which partially explains its strong post-war economic development. The labour movement – both trade unions and political parties –
3567-764: The Baltics between 2007 and 2015, SVT's Uppdrag Granskning investigative programme reported. Chief executive Birgitte Bonnesen was fired in March 2019 during the money laundering scandal and her severance pay was cancelled. The bank's chairman Lars Idermark resigned the following month. Swedbank was subsequently fined a record 4bn SEK ($ 380m) by Swedish and Estonian regulators. Swedish appeals court found in September 2024 former Swedbank CEO Birgitte Bonnesen guilty of gross fraud over her handling of anti-money laundering protocols in Estonia, sentencing her to 15 months in prison. Swedbank Latvia AS
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3654-437: The Faroe Islands and Greenland, which had been re-colonised in the 18th century, became Danish. Population growth and industrialisation brought change to the Nordic countries during the 19th century and new social classes steered political systems towards democracy. International politics and nationalism also created the preconditions for the later independence of Norway in 1905 , Finland in 1917 and Iceland in 1944 . During
3741-570: The Faroe Islands and Greenland. The Finnish Eduskunta has 200 seats, including one seat for Åland. The Icelandic Althing has 63 seats, the Norwegian Storting 169 seats and the Swedish Riksdag 349 seats. The Faroese Løgting has 32 seats, Greenland's Inatsisartut 31 seats and Åland's Lagtinget 30 seats. Nordic citizens – and in the three member countries of the EU also EU citizens – living in another Nordic country are normally entitled to vote in local government elections after three months of residence, while other foreign citizens have to reside in
3828-417: The Helsinki Treaty, public officials in the foreign services of any of the Nordic countries are to assist citizens of another Nordic country if that country is not represented in the territory concerned. Nordic cooperation is based on the Helsinki Treaty. Politically, Nordic countries do not form a separate entity, but they cooperate in the Nordic Council and the Nordic Council of Ministers . The council
3915-399: The Nordic Council to form the Nordic-Baltic Eight in 1992, while big Baltic companies were bought by Nordic companies in sectors such as banking or telecommunications. In 1999, Estonia started to promote its Nordic heritage (see Nordic identity in Estonia ) while government of Sweden expressed regrets regarding the deportation of Estonian and Latvian soldiers to USSR in 1946. Following
4002-401: The Nordic countries are members of NATO. The Nordic foreign and security policy cooperation became closer and expanded its scope in 2014. The Nordic Council of Ministers is responsible for inter-governmental cooperation. Prime ministers have ultimate responsibility, but this is usually delegated to the Minister for Nordic Cooperation and the Nordic Committee for Co-operation, which coordinates
4089-446: The Nordic countries are situated on the southern parts of the region, with the exception of Reykjavík , the capital of Iceland. Helsinki , Oslo and Stockholm are all close to the same latitude as the southernmost point of Greenland, Egger Island ( Itilleq ): about 60°N . All of Denmark and most of Finland lie below 200 m and the topography of both is relatively flat. In Denmark, moraines and tunnel valleys add some relief to
4176-444: The Nordic countries for three to four years before they are eligible to vote. In Denmark and the Faroe Islands, the percentage turn-out at elections is close to 90% per cent, but it is only about 67% in Åland and Finland. Men are more often elected to the national assembly compared to women. The biggest bias between the two sexes is seen in the Faroe Islands and Åland, while in Sweden men and women are close to being equally represented in
4263-471: The Nordic countries include the Norwegian fjords , the Archipelago Sea between Finland and Sweden, the extensive volcanic and geothermal activity of Iceland , and Greenland, which is the largest island in the world. The southernmost point of the Nordic countries is Gedser , on the island of Falster in Denmark. The northernmost point is Kaffeklubben Island in Greenland, which is also the northernmost point of land on Earth. The largest cities and capitals of
4350-415: The Nordic countries is mainly influenced by their northern location, but remedied by the vicinity to the ocean and the Gulf Stream which brings warm ocean currents from the tip of Florida. Even far to the north, the winters can be quite mild, though north of the Polar Circle the climate zone is mostly subarctic with harsh winters and short summers. In Greenland and Svalbard the climate is polar. The sea has
4437-485: The Nordic countries' borders without having their passport checked, but still have to carry some sort of approved travel identification documents. During the 2015 European migrant crisis , temporary border controls were set up between Denmark and Sweden to control the movement of refugees into Sweden. Since 1996, these countries have been part of the larger EU directive Schengen Agreement area, comprising 30 countries in Europe. Border checkpoints have been removed within
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#17328695839654524-445: The Nordic model of economy and social structure to varying degrees. This includes a mixed market economy combined with strong labour unions and a universalist welfare sector financed by high taxes, enhancing individual autonomy and promoting social mobility . There is a high degree of income redistribution, commitment to private ownership and little social unrest. North Germanic peoples , who comprise over three-quarters of
4611-499: The Nordic region was politically united in the loose Kalmar Union . Diverging interests and especially Sweden's dissatisfaction over the Danish dominance gave rise to a conflict that hampered the union from the 1430s onward until its final dissolution in 1523. After the dissolution Denmark and Norway, including Iceland, formed a personal union of the two kingdoms called Denmark–Norway whilst the successful period of Vasa Kings began in Sweden and Finland. The Lutheran Reformation played
4698-606: The Office of Foreign Assets Control. In addition to the Trading with the Enemy Act and the various national emergencies currently in effect, OFAC derives its authority from a variety of U.S. federal laws , particularly the International Emergency Economic Powers Act (IEEPA), regarding embargoes and economic sanctions. In enforcing economic sanctions, OFAC acts to prevent "prohibited transactions", which are described by OFAC as "trade or financial transactions and other dealings in which U.S. persons may not engage unless authorized by OFAC or expressly exempted by statute". OFAC has
4785-406: The Oregon-based Al Haramain Islamic Foundation in 2004 was unconstitutional. The court said the Fifth Amendment's guarantee of due process required Treasury to give adequate notice of the reasons it puts a group on the terrorist list, as well as a meaningful opportunity to respond. In addition, the court ruled that freezing the group's assets amounts to a seizure under the Fourth Amendment, so that
4872-408: The Swedish rule was gradually established in the region. During the Middle Ages , increased trade meant that the Nordic countries became increasingly integrated into Europe and Nordic society became more Continental . The monarchies strengthened their positions in the 12th and 13th centuries through imposing taxes on peasants and a class of nobles also emerged. By the Late Middle Ages, the whole of
4959-430: The Thirty Years' War – also into Pomerania and other North German areas. Sweden also conquered vast areas from Denmark–Norway during the Northern Wars in the middle of the 17th century. Sweden also had several conflicts with Russia over Finland and other eastern areas of the country and after the Great Northern War (1700–1721) Sweden lost most of its territories outside the old Swedish border to Russia which then became
5046-400: The advent of Foreningen Norden . The term is derived indirectly from the local term Norden , used in the North Germanic (Scandinavian) languages , which means 'The North(ern lands)'. Unlike the Nordic countries , the term Norden is in the singular. The demonym is nordbo , literally meaning 'northern dweller'. Similar or related regional terms include: Norga Italics indicates
5133-597: The afternoon local time, after the Swedish Companies Registration Office registered the changes in the company's articles of association. On the same date, the subsidiary AB Spintab changed its name to Swedbank Hypotek AB ("Swedbank Mortgage AB") and FöreningsSparbanken Jordbrukskredit AB changed its name to Swedbank Jordbrukskredit AB ("Swedbank Agricultural Credit AB"). Other subsidiaries will change their names at later dates. In 2013 Swedbank closed its operations in Russia and sold its Ukrainian subsidiary. In 2019 Swedbank had 900,000 private and 130,000 corporate clients and
5220-479: The aggregate, either directly or indirectly. Further, US persons cannot use a third party intermediary and must exercise caution during "transactions with a non-blocked entity in which one or more blocked persons has a significant ownership interest that is less than 50% or which one or more blocked persons may control by means other than a majority ownership interest." On December 22, 2015, the Treasury Department explicitly listed all entities and their subsidiaries on
5307-430: The authority to grant exemptions to prohibitions on such transactions, either by issuing a general license for certain categories of transactions, or by specific licenses issued on a case-by-case basis. Under the International Emergency Economic Powers Act (IEEPA), the U.S. President is empowered during national emergencies to block the removal of foreign assets under the jurisdiction of the United States. That mandate
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#17328695839655394-480: The countries are among the wealthiest worldwide and there is little social unrest. In 2015, Save the Children ranked the Nordic countries as number 1–5 of countries where mothers and children fare the best (among 179 countries studied). Nordic parliaments are all based on a one-chamber system . The Norwegian parliament, the Storting , did actually function as two separate chambers until 2009 when dealing with certain issues. The Icelandic Althing , founded in 930 AD,
5481-401: The court in December 2012. In October 2007, a set of Spanish travel agency websites had their domain name access disabled by eNom : the domain names had been on the OFAC blacklist. When queried, the U.S. Treasury referred to a 2004 press release that claimed the company "had helped Americans evade restrictions on travel to Cuba". In the case of United States v. Banki , on June 5, 2010,
5568-481: The day-to-day work. The autonomous territories have the same representation as states. The Nordic countries share an economic and social model, which involves the combination of a market economy with a welfare state financed with heavy taxes. The welfare states were largely developed by strong social democrat parties and in Finland with cooperation with the Agrarian League . Although the specifics differ between countries and there are ongoing political arguments, there
5655-492: The development of education in Latvia by donating to student events and activities. Major projects - Open Mind Research Fellowships 2007/2008. and 2008/2009. as well as annual support for the LU student festival "Aristotelis". [REDACTED] Media related to Swedbank at Wikimedia Commons Nordic countries 2 autonomous territories 1 autonomous region 2 unincorporated areas 1 dependency 2 Antarctic claims The Nordic countries (also known as
5742-445: The east which results in warm and long summers and clear and cold winters, often with snow. For example, Bergen at the west coast of Norway normally has a temperature above zero in February while Helsinki in Finland normally will have a temperature of 7–8 °C below zero during the same month. Climatic conditions and quality of land have determined how land is used in the Nordic countries. In densely populated mainland Denmark there
5829-440: The entry of the People's Republic of China into the Korean War ; President Harry S. Truman declared a national emergency and tasked the Division with blocking all Chinese and North Korean assets subject to U.S. jurisdiction. The Division also administered regulations and orders issued under the amended Trading with the Enemy Act. On October 15, 1962, by a Treasury Department order, the Division of Foreign Assets Control became
5916-412: The home-rule ( hjemmestyre ) territory of the Faroe Islands and the self-rule ( selvstyre ) territory of Greenland . The Nordic countries have a combined area of around 3.5 million square kilometres and their geography is extremely varied. The area is so vast that it covers five time zones . To the east the region borders Russia, and on the west the Canadian coastline can be seen from Greenland on
6003-418: The landscape while in Finland the surroundings of lakes Pielinen and Päijänne display some moderate relief. The Finnish area just east of Bothnian Bay stands out as the largest plain in the Nordic countries. The Scandinavian Mountains dominate the landscape of Norway. The southern part of the Scandinavian Mountains is broader than the northern one and contains higher peaks. The southern part contains also
6090-485: The life of everybody: education is free, healthcare has zero or nominal fees in most cases, most children go to municipal day care, etc. The Nordic model is distinguished from other types of welfare states by its emphasis on maximising labour force participation, promoting gender equality, egalitarian and extensive benefit levels, the large magnitude of income redistribution and liberal use of expansionary fiscal policy. Trade unions are strong. The model has been successful:
6177-419: The list maintained pursuant to Section 314(a) of the Patriot Act . In August 2009, a federal court ruling in KindHearts v. Treasury found that Treasury's seizure of KindHearts assets without notice or means of appeal is a violation of the Fourth and Fifth Amendments. On September 23, 2011, the Ninth Circuit Court of Appeals upheld a lower court's ruling that procedures used by Treasury to shut down
6264-461: The lowest population and by far the lowest population density. But large areas in Finland, Norway and Sweden, like most of Iceland, are unpopulated. There are no such areas in Denmark. Denmark has a population density around continental average, higher than for instance France and Poland but lower when compared to the United Kingdom, Italy or Germany. Finland, Norway and Sweden has a population density that
6351-582: The modern organised Nordic cooperation. Since 1962, this cooperation has been based on the Helsinki Treaty that sets the framework for the Nordic Council and the Nordic Council of Ministers . The Nordic countries cluster near the top in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life and human development. Each country has its own economic and social model, sometimes with large differences from its neighbours. Still, they share aspects of
6438-472: The national assembly. The Nordic Passport Union, created in 1954 and implemented on 1 May 1958, allows citizens of the Nordic countries: Denmark (Faroe Islands included since 1 January 1966, Greenland not included), Sweden, Norway (Svalbard, Bouvet Island and Queen Maud Land not included), Finland and Iceland (since 24 September 1965) to cross approved border districts without carrying and having their passport checked. Other citizens can also travel between
6525-665: The new major power in Northern Europe. After the Napoleonic Wars (1803–1815), the political map of the Nordic countries altered again. In 1809, Finland was conquered by Russian Empire from Sweden in the Finnish War , after which Finland became the autonomous Grand Duchy of Finland . In turn, Sweden captured Norway from Denmark in 1814 in the Swedish–Norwegian War and started a Union between Sweden and Norway . Iceland,
6612-506: The newly established Office of International Finance (OIF). In 1948, OIF activities relating to blocked foreign funds were transferred to the Office of Alien Property, an agency within the Department of Justice . The Division of Foreign Assets Control, OFAC's immediate predecessor, was established in the Office of International Finance by a Treasury Department order in December 1950, following
6699-414: The permanent settlements of Vikings in the Nordic region were in southern Norway and Sweden, Denmark and Faroes as well as parts of Iceland, Greenland and Estonia . Christian Europe responded to the raids and conquest of Vikings with intensive missionary work. The missionaries wanted the new territories to be ruled by Christian kings who would help to strengthen the church. After conversion to Christianity in
6786-530: The region had over 27 million people. Especially in English, Scandinavia is sometimes used as a synonym for the Nordic countries, but that term more properly refers to the three monarchies of Denmark, Norway and Sweden. Geologically, the Scandinavian Peninsula comprises the mainland of Norway and Sweden and the northernmost part of Finland. The term Nordic countries found mainstream use after
6873-643: The region's population, are the largest ethnic group, followed by the Baltic Finnic Peoples , who comprise the majority in Finland; other ethnic groups are the Greenlandic Inuit , the Sami people and recent immigrants and their descendants. Historically, the main religion in the region was Norse paganism . This gave way first to Roman Catholicism after the Christianisation of Scandinavia . Then, following
6960-550: The relative representation of the political parties in those parliaments. It holds its main session in the autumn, while a so-called "theme session" is arranged in the spring. Each of the national delegations has its own secretariat in the national parliament. The autonomous territories – Greenland, the Faroe Islands and Åland – also have Nordic secretariats. The Council does not have any formal power on its own, but each government has to implement any decisions through its country's legislative assembly. All of
7047-543: The two world wars and the Cold War , the five small Nordic states were forced into difficult balancing acts, but retained their independence and developed peaceful democracies. The Nordic states had been neutral during World War I , but during World War II they could no longer stand apart from world politics. The Soviet Union attacked Finland in 1939 and Finland ceded territory following the Winter War . In 1941, Finland launched
7134-503: The working languages of the region's two political bodies. Swedish is a mandatory subject in Finnish schools and Danish in Faroese schools. Danish is also taught in schools in Iceland. The combined area of the Nordic countries is 3,425,804 square kilometres (1,322,710 sq mi). Uninhabitable ice caps and glaciers comprise about half of this area, mainly Greenland. In September 2021,
7221-649: Was an important political presence throughout the Nordic countries in the 20th century. The big social democratic parties became dominant and after World War II the Nordic countries began to serve as a model for the welfare state. Economically, the five Nordic countries were strongly dependent on foreign trade and so they positioned themselves alongside the big trading blocks. Denmark was the first to join European Economic Community (EEC) in 1972 and after it became European Union (EU) in 1993 Finland and Sweden also joined in 1995. Norway and Iceland are members of
7308-510: Was charged by OFAC in the USA with 386 apparent violations, totalling $ 3,312,120, breaching sanctions in relation to sending payments to Crimea through US Correspondent banks in 2015 and 2016, Swedbank settled, by agreeing in 2023 to pay $ 3,430,900 in penalties. Swedbank is a gold patron of the University of Latvia Foundation. Cooperation and support has been received from Swedbank since 2005 to promote
7395-706: Was derived from the Trading with the Enemy Act 1917 . Among other operations, FFC administered wartime import controls over enemy assets and restrictions on trade with enemy states. It also participated in administering the Proclaimed List of Certain Blocked Nationals , or the "Black List", and took censuses of foreign-owned assets in the US and American-owned assets abroad. FFC was abolished in 1947, with its functions transferred to
7482-829: Was established after World War II and its first concrete result was the introduction of a Nordic Passport Union in 1952. This resulted in a common labour market and free movement across borders without passports for the countries' citizens. In 1971, the Nordic Council of Ministers, an intergovernmental forum, was established to complement the council. The Nordic Council and the Council of Ministers have their headquarters in Copenhagen and various installations in each separate country, as well as many offices in neighbouring countries. The headquarters are located at Ved Stranden No. 18, close to Slotsholmen. The Nordic Council consists of 87 representatives, elected from its members' parliaments and reflecting
7569-485: Was listed on the Stockholm Stock Exchange and in 1997, it merged with Föreningsbanken under the combined name FöreningsSparbanken (abbreviated FSB ). During the 2007–2008 financial crisis , Swedbank accepted government assistance due to its losses from loans made to neighboring Baltic economies. On 8 September 2006, Föreningssparbanken AB changed its name to Swedbank AB . The name change took place in
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