Norway’s $1.8 trillion sovereign wealth fund is under political pressure to lift its ban on investing in defense companies, including those like Lockheed Martin. Opposition parties argue the restriction is “illogical” given today’s heightened global security threats. Tina Bru of the Conservative Party emphasized the urgent need to support Western defense industries amid rising geopolitical tensions. The fund, the largest in the world, currently excludes firms involved in cluster munitions and controversial weapons. Norges Bank Investment Management, which oversees the fund, declined to comment on any potential revisions to its ethical guidelines.
Related Posts
4 Nordic nations in talks for joint procurement of infantry fighting vehicles
- Veiko Lukmann
- 17/10/2024
- 0
The Nordic countries of Denmark, Finland, Norway, and Sweden are considering a joint procurement of a next-generation Infantry Fighting Vehicle (IFV) to replace their current fleets, aiming for acquisition between 2030 and 2040. Discussions among the nations, which already use BAE Systems’ CV90, are focused on reducing procurement costs, easing development and maintenance, and enhancing supply chain efficiencies. Maj. Gen. Lars Lervik of Norway and Maj. Gen. Jonny Lindfors of Sweden highlighted the benefits of a shared platform to ensure interoperability and support regional defense. While the CV90 is a strong contender, other manufacturers are being considered for the new […]
Norway Strengthens Air Defense with Expanded NASAMS Acquisition
- Veiko Lukmann
- 20/12/2024
- 0
Norway has signed a contract with the Norwegian Defence Materiel Agency to acquire new multi-missile canister launchers and Fire Distribution Centers for the NASAMS air defense system, replacing equipment donated to Ukraine and building additional capacity. The agreement exercises an option announced in June when Norway committed to investing in new NASAMS systems. Norwegian Defence Minister Bjørn Arild Gram emphasized the rapid pace of modernization, stating, “In less than a year, we have secured deliveries equivalent to four complete NASAMS batteries.” Kongsberg Defence & Aerospace President Eirik Lie called the system vital for safeguarding Norway’s security, highlighting its ability to […]
Kongsberg’s Joint Strike Missile USAF contract expanded to $208 million
- Veiko Lukmann
- 28/01/2025
- 0
Kongsberg Defence & Aerospace (KOG.OL) has secured a nearly $70 million contract modification from the US State Department for Joint Strike Missile (JSM) production Lot One. Designed for the internal weapon bays of the F-35 Joint Strike Fighter, the JSM is an advanced cruise missile variant of the Naval Strike Missile. The modification finalizes components of the $141 million initial contract with the USAF, including all-up rounds with containers and test hardware, with completion expected by September 30, 2027. The project involves collaboration with Raytheon (RTX) and production in Kongsberg, Norway. To meet growing demand in the US, Kongsberg is […]