The Norwegian Pension Fund said it lost $173 billion, or 14.4% of its assets, in the first half of the year, noting that the consequences of the Russian operation in Ukraine were among the reasons for these losses.
The head of the fund, Nikolai Tangin, explained that among the reasons for these losses, the market was negatively affected by rising interest rates on loans, high inflation, Russia’s federal military operation in Ukraine, as well as the weakness of the Norwegian krone, which also affected the value of assets.
Source: RIA Novosti