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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment

Norway Says $890 Billion Fund Likely to Follow EU Sanctions

Posted on 31 July 2014

Norway’s government, which sets the strategy for the world’s biggest sovereign wealth fund, signaled it will probably abide by sanctions against Russia agreed by the European Union and the U.S. “In such a situation we have to react,” Foreign Minister Boerge Brende said in a statement today. The government of Norway, which isn’t an EU member, will now “study the measures carefully” before arriving at a final conclusion, he said.
EU governments agreed yesterday on their most sweeping sanctions against Russia to date, barring state-owned banks from selling shares or bonds in Europe, restricting the export of equipment to modernize the oil industry and prohibiting export of equipment with military uses………………………………………..Full Article: Source


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