The Oil Fund (Oljefondet) sends a signal when it permits investment in Syrian government bonds. Sharaa’s regime is criticised for introducing an Islamist system of governance that persecutes minorities. There have been several massacres. Has the Oil Fund not taken note of this? In light of the killings in Iran, the decision may appear discordant.

The Oil Fund lifts the ban on investments in Syrian government bonds

The Oil Fund is now lifting the ban on investing in Syrian government bonds, TV 2 has been informed by the Ministry of Finance.

– Recently, there have been relaxations of sanctions against Syria. The Ministry of Finance, based on assessments by the Ministry of Foreign Affairs (Utenriksdepartementet), has concluded that Syria should no longer be covered by the government bond exception (statsobligasjonsunntaket), Senior Adviser Cecilie Skjennald in the Ministry of Finance tells the channel.

The news agency Reuters first reported the change on Tuesday after gaining access to minutes from a meeting between the Ministry of Finance and the Council on Ethics (Etikkrådet) dated 28 January.

– The Ministry informed that a new assessment has been made of which countries are covered by the government bond exception. Iran is included on the list of countries covered by the government bond exception, and Syria has been removed, Reuters quoted from the minutes.

According to a report to the Storting (stortingsmelding) from March, North Korea, Iran, Russia, and Belarus are covered by the current exclusion list.

The decision marks that Syria is being further integrated into the global economy after former President Bashar al-Assad and his regime were overthrown in December 2024.