Norges Bank Investment Management: Where They Stand on Israel

This page records specific public conduct. It does not claim knowledge of private beliefs or motives.

Documented record

• August 11, 2025: On August 11, 2025, Norway's sovereign wealth fund (NBIM), which held 61 Israeli companies at mid-year, announced it had sold out of the 11 Israeli companies outside its equity benchmark index and terminated its external asset-management contracts for Israel, moving those holdings to internal management, citing the humanitarian situation in Gaza. These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis. Source 1 Source 2

Context and response

NBIM frames the move as "simplifying the management" of its Israel investments under existing ethics guidelines rather than as an explicit political boycott, and confirms it retains roughly 50 other Israeli companies (those inside its benchmark index) in its portfolio.

Where Galil stands

Our opinion: We don't stand with institutions that single out Israel for divestment and severed contracts while their own announcement never once mentions October 7 or the hostages still held in Gaza.

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Sources manually reviewed 2026-07-27. Corrections and later context will be appended to this page.