BREAKING NEWS

Norway Oil Fund divests from Israeli companies

By JPOST.COM STAFF

AUGUST 23, 2010 19:56

Norway's Ministry of Finance announced that the Norway Oil Fund divested from Africa-Israel Investments and Danya Cebus Ltd. on Monday.

The reason given is the companies' construction in the West Bank.

The Norwegian Finance Ministry said, "The ethics council stresses that construction of settlements in the occupied territories violates the decision of the Geneva convention regarding defense of civilians during war time. Several decisions of the UN Security Council and the International Court of Justice have reached the conclusion that construction of Israeli settlements in the Palestinian territories is prohibited."

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