Overview

• Prime Minister Jonas Gahr Store reached out to U.S. Senator Lindsey Graham after the wealth fund disclosed it had sold all Caterpillar shares and exited five Israeli banks on ethical grounds.
• The fund acted on a recommendation from its Council on Ethics, which cited an unacceptable risk that Caterpillar equipment is used in serious violations of international humanitarian law.
• Graham posted warnings on X about possible tariffs on Norway and visa denials for fund managers, though no formal U.S. policy steps have followed.
• State Secretary Kristoffer Thoner said the prime minister explained by text that exclusions are decided by the board of Norges Bank under a parliamentary ethics framework.
• The fund previously held about 1.2% of Caterpillar, valued at roughly $2.4 billion at year-end and $2.1 billion by June, and it reported that about 52% of its assets are invested in the United States; Caterpillar did not comment.