Nicolai Tangen, head of investment management at the Norwegian central bank, which manages the fund, explained that the decision was made in response to exceptional circumstances, according to Western media. Tangen confirmed that the situation in Gaza and the West Bank has witnessed a sharp deterioration, necessitating a reassessment within Israel. According to the fund’s data, it holds shares in around 8,700 companies worldwide and had invested in 65 Israeli companies valued at $1.95 billion by the end of 2024. Last year, the Norwegian sovereign wealth fund sold its stakes in two Israeli companies for ethical reasons and is currently considering selling its shares in five banks. From October 7, 2023, until August 11 of this year, the war on the Gaza Strip has resulted in the deaths of over 61,000 Palestinians, in addition to approximately 154,000 injuries, according to data from the Palestinian Ministry of Health in Gaza, while Israel continues its escalation steps, the latest being the approval of a plan to fully reoccupy the Gaza Strip.
