Krutnes, who previously held postings in several European countries, gave the Club members a wide-ranging review of a country of just 5.4 million people that often punches above its weight in international relations.
On May 11, Norway will replace Russia as chair of the Arctic Council, which Krutnes described as a forum for addressing some of the most pressing cross-border challenges Norway faces in the polar region. As a founding member of NATO, Norway’s present-day relations with the United States are particularly focused on cooperation in national security, but Krutnes also called attention to the Norwegian Sovereign Wealth Fund's heavy investments in the United States.
The fund, which harvests the revenues from Norway’s vast petroleum sales to Europe, holds a whopping $1.4 trillion, and is today among the top 10 shareholders in most major U.S. companies like Tesla and Apple.