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World’s Biggest Wealth Fund Reviews $8 Billion Russian Stake

Norway’s $890 billion sovereign wealth fund, the world’s biggest, is reassessing its holdings in Russia as the European Union considers expanding sanctions against the country.

Since the July 17 downing of Malaysia Airlines flight MH17 by a missile that the U.S. says was probably supplied by the Russian military, sentiment toward assets based in Russia has soured further. The government of Norway, which isn’t an EU member, said it’s ready to adjust the fund’s holdings to reflect the changing geopolitical climate. The European Commission today presented a package of measures including the option of banning purchases of bonds or shares sold by Russia’s state owned banks.