Norwegian oil fund to divest Russian assets
Fund held equity investments in nearly 50 Russian companies, including Sberbank and Gazprom
Norges Bank Investment Management (NBIM) is to divest its holdings of Russian assets in response to Russia’s invasion of Ukraine.
“Given the way the situation has evolved, we consider it necessary for the fund to divest its Russian assets,” said minister of finance Trygve Slagsvold Vedum. Norway’s government unveiled several sanctions on Russia and support measures for Ukraine on February 27.
NBIM’s latest available investment disclosures, dated December 2020, show it held equity stakes in
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