Norway wealth fund urged to ease nuclear arms ban after Gaza investment row

A government-appointed Norwegian committee has recommended easing the ethical restrictions on the country’s nearly $2.3 trillion sovereign wealth fund, including allowing investments in companies that produce nuclear weapons. Led by former Central Bank Governor Svein Gjedrem, the committee also said decisions concerning another state’s conduct should be handled through Norway’s ordinary diplomatic channels rather than by the fund. The review was prompted in part by the fund’s divestment last year from Caterpillar over its alleged role in Israeli rights violations in Gaza and the occupied West Bank; Washington has since pressured Oslo over the decision.