The two women were traveling in a Danish registered car with two other passengers, an adult and two children, according to local newspaper Nya Wermlands Tidning. The car collided with another containing two adults.
The five survivors were taken to Torsby hospital with various injuries.
The accident occurred just before 7.30am. The road between Vägsjöfors and Värmlandsporten remained closed at 9.30am.
The accident occurred at almost the exact location of another accident last Thursday involving a Danish car and a Finnish minibus.
Roads were reportedly made treacherous by ice and conditions were set to persist on Sunday as snow continued to fall.