The US embassy in Oslo. Alamy
The US embassy in Oslo. Alamy
The US embassy in Oslo. Alamy
The US embassy in Oslo. Alamy

Former guard at US embassy in Norway spied for Iran and Russia


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A Norwegian court has sentenced a former US embassy security guard to three years and seven months in prison for spying for Iran and Russia.

The 28-year-old Norwegian man was convicted of providing floor plans, personal details of embassy staff and their families, and information about activities at the US embassy between March and November 2024. In exchange, he was paid 0.17 Bitcoin by Iranian intelligence and €10,000 by Russian intelligence, the court ruled on Wednesday.

In its judgment, which was made public on Thursday, the Oslo court said the information was “of a nature that could be used for direct actions and physical attacks against the concerned individuals.”

“The accused understood that disclosing this information could harm US security interests,” the court noted. During his trial, the accused admitted to spying, which he said was in protest against the US's backing of Israel's offensive in Gaza, but denied the charge of aggravated espionage for which he was convicted. He argued that the information he transmitted was not classified.

In Norway, Serbia, or Turkey, he provided Russian and/or Iranian authorities with the names, addresses, phone numbers, and licence plate numbers of embassy diplomats and employees, as well as their spouses and children. He also sent embassy plans, security routines, and a list of mail services used by Norwegian intelligence.

The prosecution had asked for a sentence of six years and four months for the crime, which is punishable by up to 21 years in prison in Norway.

Norwegian intelligence services have regularly identified Russia – with whom Norway, a Nato member, shares a border in the Arctic – Iran, and China as the main countries conducting intelligence operations in Norway.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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