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Norway excludes investment in Israeli firm

Sept. 4, 2009 at 12:34 PM
| License Photo

OSLO, Norway, Sept. 4 (UPI) -- Norway's Government Pension Fund is prohibited from investing in the Israeli company Elbit Systems Ltd., the Ministry of Finance says.

The decision follows a recommendation by Israel's Council on Ethics to exclude Elbit Systems because of its involvement in construction of a separation barrier between Israel and Palestinian areas, The Norway Post reported Friday.

"We do not wish to fund companies that so directly contribute to violations of international humanitarian law," says Kristin Halvorsen, finance minister.

The ministry says the surveillance system Elbit supplies to Israel is one of the main components in the separation barrier and has no other application.

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