Norway’s largest union votes for boycott of Israel over Gaza genocide
The Norwegian Confederation of Trade Unions (LO), the country’s largest and most powerful labor group has approved a far-reaching economic boycott against the Israeli regime, in a significant display of European labor solidarity with Palestine.
The motion was approved by a resounding 88 percent majority during LO’s national congress, which took place in Oslo, Norway, from May 8 to 9.
The LO “will introduce an economic boycott of Israel, with 240 votes for economic boycott, and 69 votes against,” the Palestine Committee of Norway said.
The resolution states that LO now demands the Norwegian State Pension Fund, domestic companies, and financial institutions divest from all businesses with Israel and those tied to the regime.
Hamas lauded the move in an official statement, describing it as a “courageous step that aligns with truth and justice and a victory for the rights of the Palestinian people.”
The group urged international labor organizations to follow Norway’s lead by shunning what it called a “fascist entity” and bringing its violations to light.
Steinar Krogstad, LO’s deputy leader, stated that the union is pushing for Norway’s $1.8 trillion sovereign wealth fund to divest from companies operating in the occupied Palestinian territories.
He clarified that LO’s stance aligns with its broader principle of avoiding investments in firms that violate international law.
“This question is more on the agenda now … because of Israel’s policy, attacks, and war in Gaza and in the West Bank,” Krogstad reportedly said.
LO, along with 47 other civil society organizations, has also sent a letter to Finance Minister Jens Stoltenberg, urging a reassessment of the fund’s investment guidelines to ensure alignment with international legal standards.
The Norwegian sovereign wealth fund, known for its ethical investment policies, has previously divested from Israel’s largest telecommunications company, Bezeq, due to its services in West Bank settlements.
LO’s recent move is in line with a broader trend among European financial institutions re-examining their investments related to Israeli settlements.
For instance, Storebrand Asset Management, a major Norwegian investor, divested from Palantir Technologies over concerns about its work in the Israeli-occupied territories.
These developments underscore growing demands on financial institutions to avoid complicity in violations of international law.
The pressure intensified after the International Court of Justice (ICJ) ruled last year that Israel’s occupation and settlement expansion in Palestinian territories are illegal, ordering their prompt cessation.
