Norway Wealth Fund Excludes Six More Firms Over Ties to ’Israeli’ Settlements, Gaza War

By Staff, Agencies

Norway’s $2 trillion sovereign wealth fund has announced the exclusion of six additional companies linked to illegal "Israeli" settlements in the occupied West Bank and "Israel’s" military campaign in Gaza, following an ethics review.

The fund did not disclose the companies’ names, saying they will be revealed once divestments are completed.

"Israel’s" five largest banks, previously flagged by the fund’s ethics council, are seen as possible candidates.

The move raises the total number of "Israeli" firms blacklisted by the fund to 23 since June 30, with its investments in "Israel" falling to 38 companies worth 19 billion crowns ($1.9 billion), down from 61 firms worth 23 billion crowns earlier this year.

The latest review was triggered by reports that the fund had invested in an "Israeli" jet engine company servicing the military’s fighter jets.

The controversy has intensified calls for full divestment from "Israeli" companies, a proposal rejected by both parliament and the government.

The announcement comes as "Israel" escalates its war on Gaza, which has killed more than 62,000 Palestinians and wounded over 156,000 since October 2023.

The International Court of Justice ruled in July that "Israel’s" decades-long occupation of Palestinian land is illegal and demanded the evacuation of all settlements.