In practice, this means that the independent ethics council is being closed down, said Hellestveit.
The Storting voted last week to pause “ethical” divestments from its $2.1 trillion state investment fund, equivalent to 21,000 billion Swedish kronor, while they rewrite the rules.
The fund is the world's largest sovereign wealth fund and was criticized earlier this year for its holdings linked to the war in Gaza. The criticism led the oil fund to sell a number of holdings, including American Caterpillar, whose bulldozers have been used to demolish homes in Palestinian areas.
