Norway decides to drop Russian assets from $1.3 trillion wealth fund

The Oslo-based fund is the world's biggest owner of publicly traded companies with a portfolio of about 9,000 stocks

Norway is starting a process to remove Russian assets from its $1.3 trillion sovereign wealth fund, in a rare case of politics steering investments for the country’s savings.
 

The government decided to freeze Russian holdings in the fund in response to the country’s invasion of Ukraine and plans to divest them in due course, Prime Minister Jonas Gahr Store told reporters in Oslo on Sunday. Norges Bank Investment Management held about 25 billion kroner ($2.8 billion) at the end of the year, Finance Minister Trygve Slagsvold Vedum said.

The Oslo-based fund is the world’s biggest owner of publicly traded companies with