News Column

Norway Fund Blacklists Israeli Firms with Settlement Ties

February 1, 2014

Published on Friday, 31 January 2014 09:43 AFP Norway's huge sovereign wealth fund, the world's largest, blacklisted two Israeli companies involved in construction of settlements in East Jerusalem , the country's finance ministry said Thursday. The ban on investing in the firms revived a three-year prohibition on them that the Government Pension Fund of Norway had dropped in August last year. The companies are Africa Israel Investments , an Israeli real estate developer, and its construction subsidiary Danya Cerbus . The ministry cited the company's alleged "contribution to serious violations of individual rights in war or conflict through the construction of settlements in East Jerusalem ," a territory where Israel's claims are not recognized by the international community. Norway's sovereign wealth fund is fed by the country's oil surplus. It is worth an estimated $818 billion according to the SWF Institute , a body that tracks such funds. As well as resuming the Israeli firm blacklisting, Norway suspended a restriction on the fund buying bonds issued in Myanmar , leaving only North Korea , Iran and Syria on the list of countries ineligible for investment.

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Source: Palestine News Network

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