RAMALLAH, December, 4, 2024 (WAFA) – Norway’s sovereign wealth fund has announced it is divesting from Israeli company Bezeq, due to its provision of telecommunications services to colonies in the occupied West Bank.

The decision by the world’s largest sovereign wealth fund comes late Tuesday after its ethics board adopted a new, stricter interpretation of ethical standards for companies that aid the occupation in its aggression against the occupied Palestinian territories.

The Norwegian fund’s ethics board said in its recommendation to divest that “By Bezeq’s physical presence in the colonies in the West Bank and its provision of telecommunications services to them, the company is facilitating the maintenance and expansion of these illegal colonies under international law.”

 “The company itself is contributing to the violation of international law by doing so,” it added.

The board said it noted that the company said it also provides telecommunications services to Palestinian areas in the West Bank, but that does not negate the fact that it also provides services to the colonies.

The board is set to submit its recommendations to the board of directors of the Norwegian Central Bank, which has the final say on divestment.

Y.S