One of the better-known facts about Norway is that its sovereign wealth fund, fattened by decades of oil revenue, is the largest and wealthiest in the world. Valued at nearly $2 trillion, the fund is arguably the most powerful instrument that Norway has when it comes to influencing international trade policy.

In that sense, Norway’s election on Sept. 8 may turn out to be a watershed moment for the fund. And depending on what the incoming government does, it could well put the Scandinavian nation on a collision course with the United States as Oslo seeks to further sanction Israel – and those, including Americans, who trade with Israel – over what current Prime Minister Jonas Gahr Støre of the Labour Party has called its “barbaric” actions in Gaza.

While Labour commanded a comfortable lea

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