Norway’s sovereign wealth fund said it decided to exclude six companies linked to the West Bank and Gaza Strip from its investment portfolio after reviewing its holdings. Trond Grande, deputy CEO of the sovereign wealth fund, said the fund expects to divest from more Israeli companies as part of its ongoing review of investments there amid the situation in Gaza and the West Bank. The announcement came as the fund reported profits of $68.28 billion in the first half of the year, supported by financial sector stocks. The sovereign fund, valued at $2 trillion and the largest in the world, said it achieved profits of 698 billion Norwegian kroner (equivalent to $68.28 billion) in the first half of the year, driven by strong returns from financial-sector equities.

Fund managers had previously announced the sale of the fund’s stakes in 11 Israeli companies as part of reducing investments in Israel because of its war in the Gaza Strip. Nicolai Tangen, CEO of Norges Bank Investment Management, which runs the so-called oil fund, said: “These measures were taken in response to exceptional circumstances; the situation in Gaza represents a serious humanitarian crisis.”