Israeli Genocide Is a Bad Investment
Norway’s recent divestment from Israel Bonds is the latest piece of bad news for an Israeli economy that has nosedived during the war on Gaza — creating a huge opening for other divestment campaigns to hit Israel where it hurts and bring the war to an end.
Demonstrators take part in a march in support of Palestinians outside the parliament building in Oslo, Norway, on November 4, 2023. (Heiko Junge / NTB / AFP via Getty Images)
Norway’s $1.6 trillion oil fund has divested entirely from Israel Bonds, pulling what remained of its investments at the start of Israel’s genocidal war on Gaza.
By November 2023, Norges Bank Investment Management, which oversees the Norwegian Government Pension Fund Global, had withdrawn all of its nearly half a billion dollars’ worth of investments in Israel Bonds, citing “uncertainty in the market.”
Israel Bonds are money lent directly to Israel’s Treasury. Since their establishment in 1951, the sale of Israel Bonds has funneled billions of dollars into almost every sector of Israel’s economy. Like any material support for the Israeli government, Israel Bonds cannot be disentangled from nearly a century of ethnic cleansing and slaughter. The sale of Israel Bonds has funded and continues to fund the maintenance of an apartheid system over millions of Palestinians throughout historic Palestine, and the genocide being carried out against 2.3 million Palestinians in Gaza.
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