Norway's sovereign wealth fund plans to divest from its Russian assets after Russia's attack on Ukraine.
According to Arab Net, the $1.3 trillion fund is the largest in the world.
The Norwegian fund's assets, consisting of shares in about 47 companies as well as government bonds, amounted to 25 billion Norwegian kroner ($2.83 billion) at the end of the year, the Norwegian government said. 2021, down from 30 billion crowns a year ago.
The Prime Minister said in a press conference: We decided to freeze the fund's investments and started a sale (to Russia).
At the end of 2020, the last time the fund gave a breakdown of its Russian assets, it had 6.7 billion kronor of government bonds and 23.3 billion kronor of shares, according to the management of Investing in Norges Bank.
The most valuable stake in a single company at the end of 2020 was in Sberbank, where the fund owned 0.83%, worth 6 billion kroner at the time, making it the fourth largest Contributed to it, according to Refinitiv Icon data.
Energy companies Gazprom and Lukoil had the second and third largest Norwegian stakes by the end of 2020.
The Russian stock market fell this week in the wake of the military invasion of Ukraine.
