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Norway says its sovereign fund will divest from Russia

OSLO (Reuters) -Norway’s $1.3 trillion sovereign wealth fund, the world’s largest, will divest its Russian assets following Russia’s invasion of Ukraine, the Norwegian prime minister said on Sunday. The fund’s Russian assets, consisting of shares in some 47 companies as well as government bonds, were worth 25 billion Norwegian crowns ($2.83 billion) at the end of 2021, down from 30 billion crowns a year earlier, the government said. “We have decided to freeze the fund’s investments and have begun a process of selling out (of Russia),” Prime Minister Jonas Gahr Stoere told a news conference.

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