this post was submitted on 07 Sep 2023
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[–] snipvoid@lemm.ee 70 points 1 year ago* (last edited 1 year ago) (3 children)

Again: The Norwegian Sovereign Wealth Fund still have active investments in Russia.

Where is the outrage for them?

According to this Norwegian publication in an article published January 31st 2023:

the Norwegian oil fund still holds hundreds of millions worth of shares in petroleum companies like Gazprom, Novatek, Bashneft and Lukoil

Even if the value of their investments lower, they still haven’t pulled out any from Russia. The investments could be worth very little, but they still have something invested in Russia.

Norwegian Government on February 28, 2022, ordered the Oil Fund to freeze all investments in Russia and prepare a plan for divesting with the goal of totally exiting the Russian stock market

What’s stopping them?

[–] Kes@lemmy.blahaj.zone 38 points 1 year ago (1 children)

The value of their investments is lower because they've been pulling out of Russia. The article you sent says they've slashed the value down by 90%, and they're still going. Liquidating hundreds of millions in stocks while getting a decent value out of them takes time, and so far they've done a pretty good job selling off 90% of their Russian holdings with just a few more millions to go

[–] speaker_hat@lemmy.one 3 points 1 year ago* (last edited 1 year ago) (1 children)

Making rapid economical changes in this scale will collapse companies and economies.

[–] snipvoid@lemm.ee 2 points 1 year ago

Who would collapse?

[–] I_annoy_you@lemmy.world 1 points 1 year ago* (last edited 1 year ago) (1 children)

sugar drinks could be compramised over living in the freezing cold

[–] snipvoid@lemm.ee 0 points 1 year ago

How would the richest sovereign wealth fund in the world pulling out their investments from Russia bring about living in the freezing cold?

It isn’t as if Norway’s fund haven’t already said they would divest. It’s just that they haven’t taken any concrete action on what they promised for more than a year.

Why?