Norway's $1.98 trillion sovereign wealth fund divested from Caterpillar and several Israeli banks due to ethical concerns over their involvement in the Gaza conflict. The U.S. State Department criticized this decision, calling the claims against Caterpillar illegitimate. Norway's finance minister stated the decision was independent of the government, made by the fund's executive board based on established ethical guidelines. This isn't the first time the fund's decisions have faced U.S. criticism; Senator Lindsey Graham also condemned the move. The fund's portfolio now holds significantly fewer Israeli equities.

Prepared by Christopher Adams and reviewed by editorial team.