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World's largest wealth fund divests from Israeli energy company
World's largest wealth fund divests from Israeli energy company

Middle East Eye

time12-05-2025

  • Business
  • Middle East Eye

World's largest wealth fund divests from Israeli energy company

Norway's sovereign wealth fund has decided to divest from Israel's Paz Retail and Energy because it owns and operates infrastructure supplying fuel to Israeli settlements in the occupied Palestinian territories. It marks the second divestment after the fund's ethics watchdog, the Council on Ethics, adopted a tougher interpretation of ethics standards for businesses in August that aid Israel's occupation of the West Bank and Gaza Strip. The fund, the world's largest, owns 1.5 percent of listed shares across 9,000 companies globally. Worth $1.8 trillion, the Norwegian fund has been an international leader in the environmental, social and governance (ESG) investment field. 'By operating infrastructure for the supply of fuel to the Israeli settlements on the West Bank, Paz is contributing to their perpetuation,' the Council on Ethics said in its recommendation to divest. 'The settlements have been established in violation of international law, and their perpetuation constitutes an ongoing violation thereof.' New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters It comes after a similar decision was made in December to sell all shares in Israel's largest telecoms group, Bezeq, over its involvement in the occupied territories. Norwegian Deputy Foreign Minister Andreas Motzfeldt Kravik has denounced Israel's ongoing siege on Gaza as 'unconscionable and deeply illegal'. Norway is among 147 states that have recognised Palestinian statehood. In April, a year after Norway's recognition, Kravik announced the formal establishment of diplomatic relations with Palestine, with the appointment of Palestinian ambassador Marie Antoinette Sedin. In addition to initiating the International Court of Justice (ICJ) case on Israel's humanitarian obligations under international law, Norway is leading an international coalition for the two-state solution, along with Saudi Arabia and the European Union, Kravik told Middle East Eye. A UN conference on Palestinian statehood is scheduled to be held in New York from 2-4 June, based on a UN General Assembly resolution passed in December in support of the two-state solution.

Israel's Gaza siege ‘unconscionable and deeply illegal': Norway deputy foreign minister
Israel's Gaza siege ‘unconscionable and deeply illegal': Norway deputy foreign minister

Middle East Eye

time02-05-2025

  • Politics
  • Middle East Eye

Israel's Gaza siege ‘unconscionable and deeply illegal': Norway deputy foreign minister

Norwegian Deputy Foreign Minister Andreas Motzfeldt Kravik has denounced Israel's siege on Gaza as 'unconscionable and deeply illegal', with aid unable to reach the Palestinian enclave for two months. Kravik spoke on behalf of Norway before the International Court of Justice (ICJ) on Thursday, in hearings on Israel's humanitarian obligations under international law. The case is based on a request by the United Nations General Assembly in December, which Norway lobbied for after Israel banned the UN agency for Palestinian refugees, Unrwa. 'We first initiated this process in the UN, where we put forward a resolution where we asked the General Assembly to request the court to pronounce on Israel's obligations under international law to provide for humanitarian relief to Palestinians,' he told Middle East Eye after the court's proceedings on Thursday. 'The backdrop here was the suffering that we're seeing on the Gaza Strip, especially, but also on the West Bank and the humanitarian blockade,' he said. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters 'We felt that that was not only unconscionable, but it was also deeply illegal,' he added. 'It's important to get the normative issue clarified. So we want the ICJ to pronounce on the legal side of things.' On Friday, the court concluded five days of hearings, in which several states argued that Israel is in breach of its international legal obligations to facilitate the entry of aid to the population under its occupation. The US on Wednesday disputed the majority opinion, arguing for an interpretation of international humanitarian law in favour of limiting such obligation due to military necessity and Israel's security. In their oral intervention before the court, Norwegian diplomats argued that Israel has an obligation under international law to collaborate with the UN, international organisations and third states in the provision of relief to occupied Palestine. 'This can be achieved only by lifting the blockade, dramatically increasing the number and capacity of land crossing points and keeping them open,' Kravik told the court. Failing to ensure the provision of relief would amount to a breach of the Palestinian people's right to self-determination, argued Kristian Jervell, legal director at Norway's foreign ministry. The ICJ case was prompted by Israel banning Unrwa in October, an event that sparked global outrage and calls for the country to be ejected from the UN. The country was accused of violating the founding charter, particularly the privileges and immunities enjoyed by UN agencies. Expected to be decided in late May or early June, it will be the third advisory opinion case since 2004 to be heard before the World Court in relation to Israel's violations of international law. Unrwa is the primary source of humanitarian support for an estimated 5.9 million Palestinian refugees in occupied Palestine and neighbouring countries. This includes the provision of basic services such as education, food, medical care and the distribution of fuel. Its closure may lead to the collapse of the primary lifeline for Palestinians. According to the organisation's latest situation report, since October 2023, Israel has killed at least 290 Unrwa staff members and carried out at least 830 attacks on the agency's premises and people sheltering in them. Palestinian statehood Norway is among 147 states that have recognised Palestinian statehood. In April, a year after Norway's recognition of Palestinian statehood, Kravik announced the formal establishment of diplomatic relations with Palestine, with the appointment of Palestinian ambassador Marie Antoinette Sedin. In addition to the ICJ case, Norway is also leading an international coalition for the two-state solution, along with Saudi Arabia and the EU, Kravik told MEE. A UN conference on Palestinian statehood is scheduled to be held in New York from 2-4 June, based on a UN General Assembly resolution passed in December in support of the two-state solution. French President Emmanuel Macron last month said that his country may recognise Palestinian statehood by the June conference, and the UK has said it is in discussions with France over the issue.

Countries Tell Ukraine ‘You Are Not Alone' after UN Adopts Neutral Stance on War
Countries Tell Ukraine ‘You Are Not Alone' after UN Adopts Neutral Stance on War

Asharq Al-Awsat

time25-02-2025

  • Politics
  • Asharq Al-Awsat

Countries Tell Ukraine ‘You Are Not Alone' after UN Adopts Neutral Stance on War

Dozens of countries rallied behind Ukraine at a meeting at the United Nations in Geneva on Tuesday, a day after the UN Security Council adopted a US-drafted resolution that takes a neutral stance on the conflict. The event, held to commemorate "resistance to the Russian aggression", follows the resolution adopted in New York on the war's third anniversary that reflects President Donald Trump's upending of US policy on Ukraine and his more conciliatory stance towards Russia. "You are not alone. Norway and other countries, all the countries who are here, but also other countries, will continue to support you as you fight for your territorial integrity, your sovereignty and your human dignity," Norway's Deputy Foreign Minister Andreas Motzfeldt Kravik told a packed room of ministers and diplomats. Thousands of Ukrainian citizens have died since Russia invaded in 2022 and more than 6 million are refugees abroad. Russia has said it had no choice but to launch what it calls its "special military operation" due to the NATO alliance's eastwards expansion. Estonia's Minna-Liina Lind, Undersecretary for Global Affairs, told the room she was "extremely worried" by the fact that the Security Council passed a resolution that does not include long-held language on Ukraine's territorial integrity. "But I think the European resolve is even greater. When there's someone else not as strong, the others fill in," she told Reuters after the meeting, co-organized by Ukraine and Liechtenstein on the sidelines of the UN Human Rights Council. The US failed to convince the UN General Assembly to pass the same resolution that passed in the Security Council on Monday. The General Assembly instead adopted motions seen as more favorable for Ukraine, in a diplomatic victory over Washington. Most countries attending the Geneva event were European and included France and Germany, but others such as Türkiye, South Korea, Australia and Japan were also present. Washington sent a delegate who did not take the floor. Ukraine's ambassador Yevheniia Filipenko, who at one point became emotional while addressing the room, asked countries to continue their support for rebuilding Ukraine and seeking accountability for crimes committed since Russia's invasion. "The road ahead is very challenging but when we are united we can prevail," she said.

Countries tell Ukraine 'you are not alone' after UN adopts neutral stance on war
Countries tell Ukraine 'you are not alone' after UN adopts neutral stance on war

Reuters

time25-02-2025

  • Politics
  • Reuters

Countries tell Ukraine 'you are not alone' after UN adopts neutral stance on war

GENEVA, Feb 25 (Reuters) - Dozens of countries rallied behind Ukraine at a meeting at the United Nations in Geneva on Tuesday, a day after the U.N. Security Council adopted a U.S.-drafted resolution that takes a neutral stance on the conflict. The event, held to commemorate "resistance to the Russian aggression", follows the resolution adopted in New York on the war's third anniversary that reflects President Donald Trump's upending of U.S. policy on Ukraine and his more conciliatory stance towards Russia. "You are not alone. Norway and other countries, all the countries who are here, but also other countries, will continue to support you as you fight for your territorial integrity, your sovereignty and your human dignity," Norway's Deputy Foreign Minister Andreas Motzfeldt Kravik told a packed room of ministers and diplomats. Thousands of Ukrainian citizens have died since Russia invaded in 2022 and more than 6 million are refugees abroad. Russia has said it had no choice but to launch what it calls its "special military operation" due to the NATO alliance's eastwards expansion. Estonia's Minna-Liina Lind, Undersecretary for Global Affairs, told the room she was "extremely worried" by the fact that the Security Council passed a resolution that does not include long-held language on Ukraine's territorial integrity. "But I think the European resolve is even greater. When there's someone else not as strong, the others fill in," she told Reuters after the meeting, co-organised by Ukraine and Liechtenstein on the sidelines of the U.N. Human Rights Council. The U.S. failed to convince the U.N. General Assembly to pass the same resolution that passed in the Security Council on Monday. The General Assembly instead adopted motions seen as more favourable for Ukraine, in a diplomatic victory over Washington. Most countries attending the Geneva event were European and included France and Germany, but others such as Turkey, South Korea, Australia and Japan were also present. Washington sent a delegate who did not take the floor. Ukraine's ambassador Yevheniia Filipenko, who at one point became emotional while addressing the room, asked countries to continue their support for rebuilding Ukraine and seeking accountability for crimes committed since Russia's invasion. "The road ahead is very challenging but when we are united we can prevail," she said.

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