Norway’s sovereign wealth fund expects to double its investments in Saudi Arabia when the country is included in the fund’s reference index a few months from now, Chief Executive Yngve Slyngstad said Friday.
The fund currently has Saudi assets worth 6.9 billion Norwegian crowns ($824.82 million).
The recent turmoil surrounding the killing of Saudi journalist Jamal Khashoggi did not influence the investments.
Czech President Zeman says INF Treaty withdrawal could undermine global trust in US
“We invest in companies, not countries. Our investments in companies based in Saudi Arabia will not be changed based on political developments,” Slyngstad told Reuters.