Norway boycotts ‘unethical’ Israel firms

Norway Oil Fund has divested from Africa-Israel Investments and its
subsidiary, Danya Cebus Ltd., for the construction of settlements in the
West Bank.

“The Council on Ethics emphasizes that the
construction of settlements in occupied areas is a violation of the
Geneva Convention relative to the Protection of Civilian Persons in Time
of War,” Norway’s Finance Minister Sigbjoern Johnsen said in the
statement on Monday.

“Several United Nations Security Council
resolutions and an International Court of Justice advisory opinion have
concluded that the construction of Israeli settlements in occupied
Palestinian territory is prohibited under this Convention,” Ha’aretz’s
website quoted Johnsen as saying.

The Norwegian state-run pension fund has assets worth USD 450 billion, and held USD 1.16 million Africa-Israel shares.

Norwegian Oil Fund, managed by the country’s Central Bank, does not
invest in companies that manufacture nuclear weapons or weapons of mass
destruction, and divests from those that harm the environment and
violate workers’ rights.


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