Norway lawmakers to oppose blocking wealth fund investment in firms in Israeli-occupied areas

Lawmakers were on Wednesday debating whether Norway's $1.9 trillion sovereign wealth fund, the world's largest, should divest from all companies with activities in the occupied Palestinian territories.

A formal vote was expected around 3 p.m. Parliament was expected to reject a wholesale boycott.

The minority Labour government has for months been resisting pressure from pro-Palestinian campaigners to instruct the fund to divest from all firms with ties to the West Bank and the Gaza Strip.

"We have an established ethical regime for the fund," Finance Minister Jens Stoltenberg told the chamber in a debate on several aspects of the way the fund is run.

"We divest from the companies that contribute to Israel's breach of international law, but we do not divest from all companies that are present on the ground," he added.

Lawmaker Ingrid Fiskaa from the small Socialist Left opposition party told the chamber: "Without Norwegian oil fund money, it would be more difficult for Israeli authorities to demolish the homes of Palestinian families."

Reuters