• snipvoid@lemm.ee
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    1 year ago

    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?

      • snipvoid@lemm.ee
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        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?

  • FlashMobOfOne@lemmy.world
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    1 year ago

    I mean, the US has been helping Saudi Arabia starve and destroy Yemen for eight years now. Aren’t we also a sponsor of war?

  • AresUII@lemmy.world
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    1 year ago

    Also:

    • Don’t import Coke from Mexico–the anchor bottler also has a stake in Heineken (soup)
    • Don’t drink Dr. Pepper until Mondelez quits Russia or DPS
    • 666dollarfootlong@lemmy.world
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      1 year ago

      At least here in the Finnish defense forces all conscripts can buy Pepsi from soda machines. Iirc some government events/buildings have had Pepsi too

  • Dead_or_Alive@lemmy.world
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    1 year ago

    They have a duty to try and maximize the return on investment for their stakeholders. Dumping all of their stock on the market at once would crater the value of those holdings. In the end the only people who would benefit would be those who picked up that stock cheap (probably the Russian Oligarchy). It would also greatly harm the Sovereign fund due to the losses incurred.

    Selling off holdings slowly to try and minimize losses for the sovereign fund is the logical move.