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Vrbo

Norway should begin process of divesting Russian assets, central bank says

Norway's central bank has recommended that the country begin the process of divesting its Russian assets, as reported by Reuters on December 4, 2024. This recommendation comes in light of the ongoing geopolitical tensions and sanctions against Russia. The central bank's governor, Ida Wolden Bache, stated that while the immediate financial impact might be limited due to the small size of Russian investments in Norway's sovereign wealth fund, the move is symbolic and aligns with international efforts to isolate Russia economically. The process involves selling off assets like stocks, bonds, and real estate, which are part of Norway's Government Pension Fund Global, one of the world's largest sovereign wealth funds. The decision reflects Norway's stance on international law and human rights, aiming to exert pressure on Russia amidst its actions in Ukraine and other geopolitical maneuvers.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/norway-should-begin-process-divesting-russian-assets-central-bank-says-2024-12-04/ ]