Norway’s State Investment Fund, the richest in the world, announced yesterday that it was selling its shares to be held by the US Caterpillar project manufacturer, citing human rights violations with its equipment by its armed forces.

“There is no doubt that Caterpillar products were used to commit generalized and systematic violations of international humanitarian law” in the enclave where war has been raging for almost two years, the Fund explained in a statement.

The investment body, which belongs to the Norwegian Central Bank, clarified that it made the decision on the recommendation of its institution on investment ethics. He explained that he considered that “Caterpillar project machines were used by the Israeli authorities for the generalized illegal destruction of Palestinian property” and that the US company “took no measures to prevent” this use of its machinery.

The management of the US company did not immediately respond to the French agency’s request to comment on the decision.

Huge revenue powered by Norway’s hydrocarbons exports, the fund is the largest in the world, has two trillion dollars and investments in over 8,600 companies on a worldwide scale.

It was among Caterpillar’s ten largest shareholders, it was 1.2% of its capital worth $ 2.4 billion.

The investment body has also announced its withdrawal from five Israeli banks allegedly funding the construction of illegal settlements on the West Bank, Palestinian territory under Israeli in 1967: First International Bank of Israel, Fibi Holdings, Bank Leumi Le-Israel Hapoalim.

In early August, the fund had already announced that it was withdrawing from 11 Israeli companies because of their involvement in the war in the Gaza Strip.