Norway's Wealth Fund Divests from Israel's Bezeq

Norway's sovereign wealth fund has divested from Bezeq, Israel's largest telecom group, due to its services to Israeli settlements in the occupied West Bank. The decision followed a recommendation from the Council on Ethics, citing violations of international law despite Bezeq's services to Palestinian areas.

In a significant financial move, Norway's sovereign wealth fund, the largest of its kind globally, has divested from Israel's Bezeq telecom firm. The decision aligns with ethical concerns over Bezeq's operations in the occupied West Bank.

Bezeq, Israel's premier telecom organization, provides services to Israeli settlements, a pivotal factor that influenced the divestment. The Council on Ethics, tasked with advising on ethical investments, highlighted that the company's actions facilitate settlements deemed illegal under international law.

Despite Bezeq's claims of offering services in Palestinian regions, the ethical breach underscored by the accumulating support to Israeli settlements prompted the Norwegian central bank's board to proceed with the divestment.

(With inputs from agencies.)