The economic impact of the war in Ukraine

A range of information about the impact of the Russian invasion of Ukraine on Iceland’s economy and financial situation can be found here.

Emergency donations for the Ukrainian people

The Red Cross is accepting charitable donations.

All of the money collected will be donated to the Red Cross Emergency Fund, which will use it to meet the needs of Ukrainian people and provide emergency services, including food, water, healthcare, housing, and psychological support.

What impact will the Ukraine war have on the Icelandic economy?


On 14 March 2022, Íslandsbanki Chief Economist Jón Bjarki Bentsson published an analysis of the potential impact of Russia’s invasion of Ukraine on the Icelandic economy.

Useful information


Payments to Russian banks

At present, it is not possible to send payments to specified Russian banks.

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The state of the economy, present and future

Thorough, well-grounded material from Íslandsbanki Research

ÍSB Research publishes economic analysis and forecasts on a regular basis, as well as special reports on the effects of the invasion of Ukraine.

On this page you can find ÍSB Research articles and sign up to receive the most recent materials via e-mail.

Advisory services and information on household finances


When the economy is in flux, it is wise to consult with experts.

Make an appointment

On this page you can make an appointment for a telephone consultation or a visit to an Íslandsbanki branch to discuss mortgage loans, savings options, or other matters at a time that works for you.

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Mortgage loans

In-depth information and calculators for everything pertaining to mortgage loans.

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Saving and investing

Everything you need to know about the savings options available to you.

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The Icelandic Government’s response

Iceland has participated in measures aimed at supporting Ukraine in the wake of Russia’s invasion.

Here you can find information from the Government Offices on the actions taken and statements made to date.