Norway’s sovereign wealth fund, known as the Oil Fund, has sold its shares in 11 Israeli companies due to the ongoing war in Gaza, according to a statement from the Norwegian central bank.
“This action is being taken in an extraordinary conflict situation,” said fund CEO Nicolai Tangen. “The situation in Gaza is a serious humanitarian crisis. We are invested in companies operating in a country at war, and conditions in both the West Bank and Gaza have worsened recently.”
Finance Minister and former NATO chief Jens Stoltenberg (Labor Party) welcomed the move. “This is an important decision. I am pleased that the bank has followed the request and acted quickly,” he said in a press conference Monday.
The divestment is selective—not a complete withdrawal, which has drawn criticism from the Left in the Norwegian parliament.
The fund will reveal the names of the 11 companies in a press conference on Tuesday morning. As of the end of June, the fund still held investments in 61 Israeli companies.
