Norway’s sovereign-wealth fund to exit Russian holdings
"Norway's massive sovereign wealth fund to exit Russian holdings," 28 February 2022
Norges Bank Investment Management, the arm of the Norwegian central bank that operates the $1.3 trillion fund, is freezing investments in Russia... The fund will neither buy nor sell shares right away, the spokesperson said, and will work with the Ministry of Finance to prepare a plan to divest from the Russian market.
... The Norwegian government... outlined a raft of measures it is taking to support Ukraine, including allocating funds for humanitarian aid, joining European Union sanctions and withdrawing the oil fund from Russian investments. Norway, a member of the North Atlantic Treaty Organization, will also provide military equipment to Ukraine.
... At the end of last year, the fund had 27 billion Norwegian kroner, equivalent to $3 billion, invested in Russian stocks... amounting to 0.2% of the fund’s overall investments. Its largest stock investments in Russia included holdings in Russian lender Sberbank, gas producer Gazprom PJSC and oil major Lukoil.