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20 Aug 2009

Erik Hagen, Norwatch

BlackRock Divests from the West Bank

The British bank BlackRock has divested from Lev Leviev settlement projects on West Bank. The divestment follows pressure by three Norwegian banks marketing BlackRock funds...the British Embassy in Tel Aviv...[refrained from] occupying a building owned by...Africa-Israel Investments...[because] the company was also responsible for settlements on the occupied West Bank. Africa-Israel Investments' main owner is...Lev Leviev. Now the UK bank BlackRock has followed in the footsteps of the ambassador...The construction of settlements on occupied Palestinian territory is in conflict with international law...It is not known whether BlackRock dropped the investment of financial or ethical reasons. [also refers to Storebrand, Skandiabanken, Danica Pensjon]