arms

Review prompted by Gaza action calls for Norway’s sovereign wealth fund to lift ethical risk limitations on its investments.

A government-appointed committee has called for Norway’s sovereign wealth fund to lift limitations on its investments based on ethical risks, including those regarding nuclear weapons and Israel’s genocidal war on Gaza.

In a report released on Thursday, the committee said the world’s largest sovereign wealth fund, which controls assets totalling nearly $2.3 trillion, should be allowed to invest in companies that produce nuclear weapons. With reference to Gaza, it also called for the fund to refrain from involvement in diplomatic issues.

Led by former Central Bank Governor Svein Gjedrem, the committee recommended easing the fund’s investment conditions as part of a broader overhaul that would give its manager, the central bank, greater discretion over how it addresses ethical risks.

The review was prompted in part by controversy over the fund’s disinvestment last year from United States construction giant Caterpillar. The fund said the move was prompted by Caterpillar’s purported involvement in rights violations perpetrated by Israel amid its genocidal war on Gaza and in the occupied West Bank. Washington has since pressured Oslo over the move.

“Parts of the rationale for the appointment of the Committee was the Fund’s management related to the war in Gaza,” the committee commissioned by the government said. In the report, it argued that decisions regarding “another state’s conduct” should not be made by the fund but “reserved for the ordinary diplomatic channels of the Norwegian authorities”.

The unanimous recommendations of the committee in the report, which was submitted to the Ministry of Finance, also called for a review of the fund’s exclusion of investment in companies involved in the production of nuclear weapons.

Citing Norway’s reliance on NATO’s nuclear deterrent and a worsening security environment, the report suggested that investments in companies based in the US, United Kingdom and France that are involved in the production of nuclear weapons should be allowed.

The proposals also extended to reshaping the role of the fund’s independent ethics watchdog, allowing some assessments of potential investments to remain confidential.

‘Pandora’s box’

The report has already provoked a backlash in Norway, with opposition politicians slamming the potential changes. Meanwhile, analysts suggested that weakening ethics considerations could have a wide impact.

“If the Norwegian sovereign wealth fund – often considered a global gold standard – changes its posture towards nuclear weapons, it will open Pandora’s box for many global investors to follow suit,” Lawrence Loh, director of the Centre for Governance and Sustainability at the National University of Singapore Business School, told Al Jazeera.

The committee framed the proposed change as an obligation to protect Norway’s national security, citing the country’s dependence on its allies’ nuclear umbrella.

“The global security situation has changed. Norway is building up its defence capabilities, and the protection provided by NATO’s nuclear umbrella has become increasingly important. The companies that would be reincluded produce weapons that Norway needs for its own defence”, the report argued.

Gareth Evans, former Australian foreign minister, told Al Jazeera the report was “an encouraging initiative in a world that has become alarmingly complacent about the risks of nuclear war, with every major nuclear arms control agreement dead, dying or on life support, and the longstanding taboo against threat or use eroding”.

Amid US President Donald Trump’s shake-up of NATO, European countries are increasingly looking to join France’s nuclear deterrent umbrella.

Trump said on Thursday that Washington is holding talks with Russia and China aimed at denuclearising the countries with the biggest stockpiles of nuclear weapons.

However, Loh warned that shifting the Norwegian fund’s investment conditions could encourage investment by others in nuclear companies “in scenarios different from the Norwegian’s condition of the invested companies being based in allied, nuclear-armed NATO countries”.

Sept. 30, 2026 9:17 AM PT

WASHINGTON — The Trump administration is removing Syria from a list of countries that are not allowed to purchase or import U.S. weaponry, a step that is part of a monthslong process of easing sanctions on the new government in Damascus and its leaders.

In a notice published Wednesday in the Federal Register, the State Department said it was amending its International Traffic in Arms Regulations, or ITAR, so that Syria no longer was among the nations subject to a policy of denial for licenses and other approvals needed for the sale of U.S. weapons and munitions.

The change effective Thursday means that arms sales requests from Syria will now be considered on a case-by-case basis.

President Donald Trump acted last year to ease economic sanctions on Syria that had been in place for decades during now-ousted President Bashar Assad’s rule. In August, Secretary of State Marco Rubio rescinded Syria’s designation as a state sponsor of terrorism, helping paving the way for the latest step in drawing closer to the current government.

The State Department has also announced plans to reopen the U.S. Embassy in Damascus. It has been closed for 14 years.

With Syria’s removal from the ITAR blacklist, only seven countries remain subject to the policy of denial for licenses for U.S. arms exports: Belarus, China, Cuba, Iran, Myanmar, North Korea and Venezuela.

Syria’s interim president, former rebel leader Ahmad al-Sharaa, overthrew the Assad government nearly two years ago and has embarked on a policy of change that has impressed the Trump administration. His moves have led to hopes of eventual stability in a country that was wracked by civil war and the Islamic State insurgency that engulfed northeast and western Iraq for years.

Wednesday’s withdrawal of U.S. forces from Iraq may mean that the Syrian government plays a greater role in preventing an IS resurgence.

Lee writes for the Associated Press.

WASHINGTON — President Trump asked Chinese President Xi Jinping if he wanted to buy weapons from the United States, the U.S. ambassador to China said.

David Perdue said Trump raised the prospect of the arms sales from the U.S. to its ascendant geopolitical rival, an unlikely offer that if consummated would upend generations of U.S. policy toward China and Taiwan and expose U.S. technology to a potential foe. Perdue, speaking to Shannon Bream on Fox News Channel’s “Fox News Sunday” days after Trump hosted Xi for a state visit in Washington, didn’t specify when the offer was made.

Perdue said Sunday that Trump, a Republican, was downplaying longstanding U.S. arms sales to Taiwan — which have drawn protest from Beijing for years — by couching it as just one of many sales Washington makes around the world — and even asking Xi if he’d be in the market for U.S. weaponry.

Bream had cited concerns from Republican and Democratic lawmakers over delayed aid packages and weapons orders to Taiwan, the self-ruled democracy that seeks to defend itself from China’s threat to invade the island. Bream asked if the U.S. is denying arms to Taiwan to appease the Chinese president, who visited Trump last week.

Perdue pushed back on the suggestion, stating that Trump “is as strong on Taiwan as I’ve ever seen anybody” and has sold it plenty of weapons. Perdue also said Trump and Xi continue to talk about future U.S. weapons sales to Taiwan.

“But President Trump continues to say, ‘Hey, we sell arms to other people around the world,’” Perdue said. “He actually asked President Xi, would he like to buy some, at one point.”

The U.S. is bound by its own laws to provide Taiwan with the means to defend itself. While not recognizing Taiwan as a country, the U.S. is the island’s strongest informal backer and arms provider. But multiple U.S. leaders have left ambiguous whether they would commit military force to defend the U.S. ally should China invade.

China has pressed Washington to halt the arms sales, most prominently during a previous summit in May between Trump and Xi in Beijing. After that meeting, the United States paused the sale of a record-breaking $14 billion package — and Trump described arms sales to Taiwan as a “very good negotiating chip” with China.

In their private talks at the White House last week, Xi pressed Trump to oppose Taiwan independence, according to Chinese state media.

In Beijing, China’s foreign ministry spokesperson Guo Jiakun did not confirm Perdue’s remarks when asked about the matter on Monday. But he told reporters that China has always strengthened its national defense capabilities based on its needs and is committed to maintaining world peace and stability.

Finley writes for the Associated Press.