Norway Plans to Sell Part of Its Shares in Israeli Companies

• Norway plans to sell shares in Israeli companies due to the humanitarian situation in Gaza.
• The NBIM fund suspended contracts with all external managers of assets.
• The change in risk assessment of shares took place earlier than necessary.

Norway, which owns the largest sovereign fund in the world, announced its intention to sell part of its shares in Israeli companies due to the situation in Gaza and on the Western Front. This step is related to the worsening humanitarian situation in the region.

The Norges Bank Investment Management (NBIM) fund, which belongs to the central bank of Norway, reported that it has begun reviewing its investments in Israeli companies. In a statement, the fund announced the suspension of contracts with all three external managers of assets, which were partially involved in investments in Israel.

In recent days, the fund sold its stake in the company Bet Shemesh Engines Ltd, which provides services to the Israeli defense forces. NBIM's chief, Nikolai Tangens, noted that the fund intends to sell shares in other companies that remain in the portfolio as part of the ongoing review.

The fund, which invests state revenues from oil and gas production, holds on average 1.5% of all shares registered in the world. As of June 30, 2025, the fund had stakes in 61 Israeli companies.

Tangens noted that NBIM holds quarterly meetings with Bet Shemesh Holdings, but those meetings in Gaza did not take place. The change in risk assessment for BSEL from the middle of the year was, according to Tangens, necessary to be made earlier.

Norway is preparing for general elections on September 8, and some politicians are urging Tangens to testify regarding investments in Israel. However, he stated that he fulfills the fund's mandate as required by parliament.

Tags: Europe/Economy