Inflation is soaring, production and international trade are being impacted by the energy crisis: the so-called safe haven assets no longer work as they used to in the past, so sticking to traditional patterns of analysis serves little purpose. This is what has happened since February in the world’s stock exchanges and financial markets. The dollar has established itself as the only real safe haven asset, as even gold has lost 6.3% since the beginning of the year. Which markets to choose if one thinks that the Ukrainian crisis will not be resolved soon? At the level of individual stock exchanges and national currencies, Oslo deserves some attention. The OBX Index of the Norwegian stock exchange is today practically in line with the values at the beginning of the year, while the Nasdaq has lost 28%, the S&P 500 more than 20% and the EURO STOXX 519 about 19%. Inflation in Norway is at 6.5%, the interest rate on ten-year government bonds, but above all, the current account trade balance shows a surplus of 17.3% of the country’s GDP. According to some analysts, the Norwegian kroner is undervalued at the current exchange rate by 47%: this is the gain that those who invest in kroner at current rates can take home. The Oslo stock exchange is also full of oil and gas stocks that can take advantage of the current crisis scenario, such as the giant Equinor, which has gained 53% since the beginning of the year and has a dividend yield of around 2.5%.