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Finance minister and former head of Nato, Jens Stoltenberg, who oversees the fund, said in a statement it was understandable that questions are being raised about the fund’s investments in the Israeli company, given that the fund is not supposed to invest in companies which enable states to violate international law, Verdens Gang reported on Tuesday.

“The war in Gaza is contrary to international law and is causing terrible suffering, so it is understandable that questions are being raised about the fund’s investments in Bet Shemesh Engines,” Stoltenberg said.

Stoltenberg’s statement went on to say that Norges Bank is responsible for assessing individual companies based on advice from an external ethics watchdog and guidelines set by the finance ministry.

“In light of…the deteriorating situation in Gaza and the West Bank, I will today ask Norges Bank and the Council on Ethics to conduct a renewed review of the fund’s investments in Israeli companies and Norges Bank’s work on responsible management," Stoltenberg said.

Norwegian Prime Minister Jonas Gahr Store told public broadcaster NRK that the fund’s investment in the Israeli company was “worrying”.

“We must get clarification on this because reading about it makes me uneasy,” he added.

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