"Norway wealth fund divests from second Israeli company since Gaza war", 12 May 2025

Norway's sovereign wealth fund, the world's largest, said it had sold all of its shares in Israel's Paz Retail and Energy because the company owns and operates infrastructure supplying fuel to Israeli settlements in the occupied West Bank...

Paz, which says on its website it has also sold and marketed fuel to the Palestinian Authority, declined to comment.

It was the latest decision by a European financial entity to cut back links to Israeli companies or those with ties to the country since the outbreak of the war in Gaza in October 2023. The move comes amid an intensifying campaign in the Nordic country for the fund to divest entirely from Israeli companies...

"By operating infrastructure for the supply of fuel to the Israeli settlements on the West Bank, Paz is contributing to their perpetuation," the fund's Council on Ethics watchdog said in its recommendation to divest. "The settlements have been established in violation of international law, and their perpetuation constitutes an ongoing violation thereof," it added.

The Israeli embassy in Oslo did not immediately reply to a request for comment...

The [Norwegian] government says it is best to let the fund's ethics watchdog conduct its work as per ethical guidelines agreed in parliament...