Norway Urged to Support Iran War Victims with Wealth Fund
Norway's $2.2 trillion sovereign wealth fund is suggested as a source to aid civilians affected by the Iran war, similar to its support for Ukraine. The head of the Norwegian Refugee Council says Norway's financial gains from high oil prices should aid more countries, including Iran.
Norway is under pressure to use its $2.2 trillion sovereign wealth fund to assist civilians affected by the Iran conflict, similar to the aid provided to Ukraine. Jan Egeland, head of the Norwegian Refugee Council, advocates for this approach, highlighting the nation's significant financial gains from elevated oil prices.
Previously, in response to Russia's 2022 invasion of Ukraine, Norway established a substantial aid plan, totaling $28 billion from 2023 to 2030. Egeland suggests replicating this model for Iran, based on Norway's increased revenue from oil and gas due to regional conflicts.
Norwegian officials face scrutiny over any perceived benefit from conflicts that raise energy prices. Finance Minister Jens Stoltenberg insists that Norway prefers a stable international order, contrary to assumptions about profit from war-induced market changes.
(With inputs from agencies.)
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