Norway's sovereign wealth fund, valued at $2 trillion, will conduct a review of its investments in Israeli companies following heightened ethical concerns related to the ongoing conflict in Gaza and Israeli activities in Judea and Samaria. Finance Minister Jens Stoltenberg emphasized that while some changes may be implemented quickly, a comprehensive withdrawal from Israeli companies is not planned. The review was prompted by recent scrutiny over the fund's stake in Bet Shemesh Engines Ltd., which supplies services to Israel's armed forces, and comes amid political debate ahead of Norway's upcoming national elections.

Currently, the fund holds shares in 65 Israeli companies worth nearly $2 billion, and its ethics watchdog is investigating investments in several Israeli banks. Norway's parliament recently rejected a proposal for blanket divestment from companies operating in what it calls 'occupied Palestinian territories,' but the fund has previously blacklisted several firms for their involvement in the Israeli occupation. The review is part of Norway's ongoing efforts to align its investments with ethical guidelines set by the parliament.