[ 24/08/2010 - 12:34 PM ]
OSLO, (PIC)-- Norway’s finance ministry announced Monday its decision to exclude two Israeli companies from the state’s 450 billion euro oil pension fund over the firms’ involvement in settlement activity in the West Bank.
The firms are Africa-Israel Investments and Danya Cebus, which are both owned by Israeli billionaire Lev Leviev.
Africa-Israel Investments is one of Israel’s largest companies and has a worldwide presence, but was affected financially after last year’s global financial crisis. Its owner announced Sunday that he sold its shares for 500 million shekels.
The ministry in Norway said the fund sold all of its holdings in those companies. The central bank-managed fund follows ethical guidelines set by the government and does not invest in companies that produce nuclear weapons or cluster munitions, damage the environment, or abuse workers’ rights.
The Africa-Israel Investment group, which is the parent company of several smaller companies and has investments in real estate development, infrastructure, and energy, owns the majority of the shares in Danya Cebus, which is a construction company that is contracted for settlement projects in occupied Palestinian territories.
“The ethics council emphasizes that construction of settlements in the occupied areas is a violation of the Geneva Convention relative to the Protection of Civilian Persons in Time of War,” the finance ministry said.
“Several United Nations Security Council resolutions and an International Court of Justice advisory opinion have concluded that the construction of Israeli settlements in occupied Palestinian territory is prohibited under the convention,” Finance Minister Sigbjoern Johnsen said in a statement.
River to Sea
Uprooted Palestinian
No comments:
Post a Comment