Norway is withdrawing from investments in an Israeli company

• The Norwegian fund sold shares in 11 Israeli companies.
• Norway's Prime Minister expressed concern about investments by the fund in Israel.
• European financial institutions are reducing ties with Israeli companies.

The Norwegian sovereign fund, which has an asset base of $2 trillion, announced the termination of contracts with managers of assets that were involved in its investments in Israel. This decision followed a recent review that began after it became known about part of the fund in an Israeli company that provides services for Israeli military forces.

The fund held shares in 61 Israeli companies on June 30, but recently sold stakes in 11 of them. "We have completely exited these positions," the fund's statement said. The fund's management indicated that it continues to review the possibility of selling shares in other Israeli companies.

The Norwegian government began this review after the publication in ZMI about the fund's investments in a company that supplies parts for Israeli manufacturers, which are used in the war in Gaza. The Prime Minister of Norway called these investments "problematic."

Research also showed that several large European financial institutions are reducing ties with Israeli companies due to the conflict in Gaza. Last month, a special report by the UN called to sever all trade and financial ties with Israel.

Tags: Middle East/Economy