The Norwegian Sovereign Wealth Fund is considering whether to sever all ties with Israel or to cease further investments in Israeli companies in which it already has money. Although no decision has been announced, the fund has sent requests for clarification about the activities of Israeli companies, including all the major banks and other major corporations. 

The Foreign Ministry is working with the companies to provide detailed responses on the status of the West Bank. Israel contends that the territory is not “occupied” but “disputed.” Israel also points to the activities of those companies, which employ thousands of Palestinian workers, in order to counter claims that they violate the human rights of the Palestinians.  

Israel now believes that the Sovereign Wealth Fund’s final decision will be released in the early months of 2023.  

The issue dates to February 2020, when the UN released a “black list” of 112 companies, organizations, and institutions operating in the West Bank, which they claimed was in violation of international law. The list included all the major Israeli banks, communications and energy companies, movers and transportation firms, major supermarket chains, large construction companies, and factories.