Norway's $2 trillion sovereign wealth fund said on Monday it is terminating contracts with asset managers handling its Israeli investments and has divested parts of its portfolio in the country over the situation in Gaza and the West Bank.

Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers said Monday, a move they said reduces its holdings in the country against the backdrop of the “serious humanitarian crisis” in Gaza.

The government of Norway said Monday it would divest its $2 trillion sovereign wealth fund from 11 Israeli companies, citing the “serious humanitarian crisis” in Gaza. The announcement came after the newspaper Aftenposten revealed the fund held shares of the firm Bet Shemesh Engines Limited,