Norway’s government has ordered its $2 trillion sovereign wealth fund, the largest in the world, to reassess every investment it holds in Israeli companies after revelations that some of them are directly tied to their genocidal campaign in Gaza.
The decision follows reports in Norwegian daily Aftenposten that Bet Shemesh Engines, an Israeli manufacturer of aircraft components, supports fighter jets used in the relentless bombardment of Gaza.
For months, those airstrikes have reduced entire neighborhoods to rubble and claimed tens of thousands of Palestinian lives.
Public outrage matters
Foreign Minister Espen Barth Eide, who oversees the management of the sovereign wealth fund, said the government cannot ignore public outrage over the possibility that Norwegian money finances war crimes.
“Our guidelines forbid investment in companies that take part in serious violations of human rights,” he told reporters in Oslo. “When allegations point to direct involvement in ongoing military aggression, people have every right to demand answers.”
Prime Minister Jonas Gahr Støre voiced alarm over the revelations, describing himself as “deeply concerned” about the fund’s stake in Bet Shemesh Engines.
Investigations show the company plays a role in maintaining and supplying key parts for Israeli fighter jets that have been central to the genocidal air campaign against Gaza.
This would not mark the first time Norway cuts financial ties with Israeli firms over their role in the genocide.
Last May, the fund pulled out of Baz, an Israeli energy company, after determining it operated inside Palestinian land under Israeli control. The move was described as a refusal to bankroll activities in territories seized in violation of international law.
Norway’s latest step comes amid a broader shift in Europe, where pressure grows to sever economic links to Israel’s war machine.
The situation in Palestine worsens daily. Gaza’s Health Ministry reports that Israeli attacks in the past 24 hours have killed 68 people and injured 326.