Business Standard

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

Photo: Bloomberg

Photo: Bloomberg

Lars Erik Taraldsen | Bloomberg
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

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 28 2022 | 8:20 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to