The shares in Bezeq, Israel's leading telecom company, are being sold as the fund's ethics council determines that there is an unacceptably high risk that Bezeq contributes to serious human rights violations in war and conflict situations, the fund writes in a statement.
Bezeq's operations on the occupied West Bank, with mobile services to Israeli settlers, are also cited as a reason for the decision.
The oil fund is also dumping its shares in the London-listed mining and steel company Evraz. This company is said to enable Russia's aggressive war against Ukraine with steel produced in Russia.
The decisions were made on Tuesday by the board of Norges Bank, which manages Norway's state oil revenues.
The oil fund in Norway, with shares in over 9,000 listed companies around the world, is one of the world's largest owners of listed shares, with ownership equivalent to 1.5 percent of the global stock market.
