Oslo (Quds News Network)- Norway’s sovereign wealth fund, the world’s largest, is pulling out of 11 Israeli companies. The decision comes after revelations it invested in an Israeli jet engine manufacturer during the ongoing genocide in Gaza. Nicolai Tangen, head of Norges Bank Investment Management (NBIM), announced the move on Monday. He said it was “in response to extraordinary circumstances.” “The situation in Gaza is a serious humanitarian crisis,” Tangen said. “We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened.” Known as the oil fund, Norway’s sovereign wealth fund holds around $1.9 trillion in assets. It is fueled by the country’s energy export revenues and invests worldwide. Last week, Norwegian newspaper Aftenposten revealed the fund had invested in Bet Shemesh Engines Holdings, which produces parts for Israeli fighter jet engines. Tangen later confirmed the report, adding that the stake had even increased after Israel’s Gaza genocide began. The revelations prompted Prime Minister Jonas Gahr Store to order a review. He tasked Finance Minister Jens Stoltenberg, a former NATO secretary general, with the job. NBIM reported it had holdings in 61 Israeli companies during the first half of 2025. Eleven of these were not part of its “equity benchmark index,” which is set by the finance ministry to measure the fund’s performance. Last week, NBIM decided to sell all Israeli investments outside that index. “They will be sold as soon as possible,” the statement read. NBIM said it has long monitored companies linked to war. Since 2020, it has engaged with over 60 companies on these issues, with 39 of those talks related to the West Bank and Gaza. The monitoring of Israeli companies intensified in late 2024. “As a result, we have sold our investments in several Israeli companies,” NBIM said.