Norway Sets Deadline for Wealth Fund to Plan Russian Selldown
The Norges Bank building in Oslo, Norway.
Photographer: Odin Jaeger/BloombergThis article is for subscribers only.
Norway has asked the central bank to come up with a plan by March 15 to remove Russian assets from its $1.3 trillion sovereign wealth fund.
After ordering that the fund’s investments in Russia be frozen, the finance ministry has asked Norges Bank to prepare a proposal for the implementation of the sale, including dates for adjusting the benchmark index and changes in the investment universe, according to a letter from the ministry. The timeline could be shortened if the situation changes significantly, it said.