In an important step toward the economic isolation of Israel due to its genocide in Gaza, Norway’s Government Pension Fund Global has  decided to divest from yet more Israeli companies.

Norway’s sovereign wealth fund is the world’s largest, with total investments in Israel once  estimated at US$1.9 billion. The decision to divest was taken gradually, but is consistent with the Norwegian Government’s growing solidarity with Palestine and rising criticism of Israel.

Taking a leading role along with Spain, Ireland, and Slovenia, Norway has been a vocal European critic of the Israeli genocide and man-made famine in Gaza, actively contributing to the International Court of Justice’s investigation into the genocide, and formally recognising the state of Palestine in May 2024. This diplomatic and legal stance, coupled with its financial divestment, represents a coherent and escalating effort to hold Israel accountable for the ongoing extermination of Palestinians.

The Israeli economy was already in a state of free fall even before the genocide. The initial collapse was related to the deep political instability in the country, a result of Israeli Prime Minister Benjamin Netanyahu and his extremist government’s 

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