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U.S. Senator questions Norway's fund divestment, Norwegian Prime Minister sends a text message to explain.
Jin10 data reported on August 29 that U.S. Republican Senator Graham was furious over the Norwegian sovereign wealth fund's withdrawal of investment from Caterpillar Inc. This incident prompted a response from the Norwegian Prime Minister, who explained that the Norwegian government did not intervene in the fund's investment decisions. Prime Minister Støre sent a text message to Graham, who confirmed receipt. A spokesperson for the Prime Minister's office stated that Støre outlined the fund's authorized scope and supervisory framework in the message. The Norwegian sovereign wealth fund announced this week that it has sold its shares in Caterpillar, citing Israel's use of the company's bulldozers to demolish Palestinian properties in Gaza and the West Bank. The American senator's reaction comes at a sensitive time for Norway, which will hold parliamentary elections on September 8.