Overview

• The State Department said it is very troubled by the move, calling the claims against Caterpillar and Israel illegitimate and confirming direct engagement with Norway.
• NBIM said it divested after its ethics watchdog found Caterpillar equipment was used by Israeli authorities in Gaza and the West Bank in extensive violations of international humanitarian law, and that the company had not taken steps to prevent such use.
• The fund is also exiting holdings in five Israeli banks and is simplifying its Israeli equity exposure, including plans to terminate contracts with external managers in Israel.
• Republican Senators Lindsey Graham and Dave McCormick urged retaliation, proposing tariffs, visa sanctions, and restrictions on Norges’ access to U.S. financial markets, with McCormick pressing the administration in formal letters.
• Norway’s finance minister said the government does not decide exclusions and Caterpillar has not responded to media requests for comment.