NORWAY - Sovereign Wealth Fund Cuts Ties with Israel
Norway’s sovereign wealth fund, the largest in the world, has sold all its shares in Israeli telecom giant Bezeq due to the company’s operations in West Bank settlements, which the fund deems illegal under international law. The move follows a stricter ethics policy adopted by the fund’s ethics watchdog, the Council on Ethics, earlier this year.
The $1.8 trillion fund, a leader in environmental, social, and governance (ESG) investment, owns stakes in over 8,700 companies worldwide. The decision marks its first divestment under the updated ethics guidelines introduced in August.
Bezeq, Israel’s largest telecom provider, declined to comment on the divestment. Sources close to the company described the decision as “political,” arguing that Bezeq operates under the 1994 Oslo Accords, which allow it to provide services to settlements in Area C.
The watchdog countered that the settlements’ continued expansion and the displacement of Palestinians contradict the agreements’ original intent. It also cited an International Court of Justice ruling that declared Israel’s settlement policy and its use of West Bank resources to be in violation of international law.
-themedialine.org, 4 December 2024
Arno's Commentary
If so-called international law were to be truly applied today, all 35 sovereign nations establish on the America continent (North and South) would be illegal, as well as Australia.
International law was established by the United Nations, which has been exhibiting anti-Israel activity like no other. Based on Wikipedia and other sources, “The State of Israel has been condemned in 45 resolutions by the United Nations Human Rights Council.”
That seems rather strange for anyone with just a smidgen of familiarity with the Middle East conflict. Thus, the next question: “Did the United Nations vote to condemn Hamas? The delegation proposed an amendment to the resolution condemning Hamas. Although a majority of U.N. members supported this, the amendment fell short of the necessary two-thirds majority to be adopted, with a vote of 88 in favor, 55 against, and 23 abstentions.”
If it wasn’t for Israel, then Bible prophecy would be invalidated.
What is the prophetic message? Facing the world of nations, Israel is being treated in a similar manner to the Messiah, Jesus Christ, almost 2,000 years ago in Israel’s capital, Jerusalem.
Although Jesus was repeatedly interrogated by the prevailing rulers in Israel, Pilate “said unto them, Ye have brought this man unto me, as one that perverteth the people: and, behold, I, having examined him before you, have found no fault in this man touching those things whereof ye accuse him: No, nor yet Herod: for I sent you to him; and, lo, nothing worthy of death is done [by] him” (Luke 23:14-15). What an astonishing declaration of innocence!
Where will it lead? The final confrontation between light and darkness. But light is stronger than darkness, and Israel will survive against overwhelming odds. Scripture declares, when speaking of the Great Tribulation: “but he [Jacob] shall be saved out of it” (Jeremiah 30:7b).
Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.
