The world's largest sovereign wealth fund has decided to get rid of Russian assets

Norway's government pension fund, the world's largest sovereign wealth fund, has decided to divest its assets in Russia following the outbreak of war with Ukraine.

“We have decided to freeze the fund’s investments and have begun the process of selling [assets from Russia],” said fund Prime Minister Jonas Gahr Störe.

The fund's Russian assets consisted of 47 bonds. At the end of 2021, they were estimated at $2.83 billion.

The last time the fund provided its data on assets was at the end of 2020. Then, notes Reuters , the most valuable stake in an individual company was in Sberbank - 0.83% worth 6.0 billion crowns.

Thus, the fund was the fourth largest shareholder of the bank. The second and third largest stakes at the end of 2020 belonged to Gazprom and Lukoil.