Nicolai Tangen, Chief Investment Officer of 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 deteriorated sharply, necessitating a reconsideration within Israel.” According to the fund’s data, it holds shares in about 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 shares in two Israeli companies for ethical reasons and is currently considering selling its shares in five banks. From October 7, 2023, to August 11 of this year, the war on the Gaza Strip has resulted in the deaths of more than 61,000 Palestinians and about 154,000 injuries, according to Palestinian Ministry of Health data in Gaza. Meanwhile, Israel continues its escalatory steps, the latest being the approval of a plan to fully reoccupy the Gaza Strip.
