Oil fund continued record investment in Israel last year

The flag of Israel, boycott of IsraelThe flag of Israel.Photo: pixabay.com

 

The oil fund continued record investment in Israel in 2016. The Palestinian Committee asked the fund to avoid investing in companies that violate international law.

The so-called ‘oil fund’ presented its report for 2016 on Tuesday.

At year-end, the fund had a total shareholding of 25.6 billion in Israeli equities and fixed income, an increase of one billion compared to the year before, reported Dagen.

Director Kathrine Jensen of the Palestine Committee is not impressed by the oil fund’s record investment in Israel.

‘I believe that Israel is an apartheid state. They have about 60 laws that discriminate against those who are not Jews, particularly the Palestinian population living within Israel itself’, said Jensen.

She asked the fund to be aware, so that they do not invest in companies that violate international law, either in Israel or elsewhere.

‘Ethics committees in the oil fund should take this seriously, and take an ethical responsibility for their investments’, said Jensen. Jørund Rytman of Fremskrittspartiet (FRP), head of ‘Israel’s friends’ in Parliament, said in turn that the result is gratifying.

‘This is good for business, and the people of Israel, and I am sure these are also good investments for the Norwegian people. Behind these investments, there is enough thorough analysis from our skilled people in the oil fund’, he said.

 

Source: NTB scanpix / Norway Today

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