Sweden: Russian companies prove to be a threat to the country’s security
There are 128 Russian-owned companies in Sweden, among them four are on the EU’s sanctions list and one company is located in the USA and Great Britain. Russian companies threaten the country’s security, according to a report published on Tuesday by the Total Defense Research Institute (FOI).
The study, commissioned by the government in Stockholm, highlights the security risks that come with dependence on Russian products and raw materials.
The risks
Sweden’s only aluminum producer, Kubikenborg Aluminum AB (Kubal), has been owned by Russia’s Rusal since 2007 and controlled by Oleg Deripaska – who is on the sanctions lists. Other Russian companies in Sweden have a monopoly on the fertilizer market.
The Russians also own a number of properties that the study’s authors say “could be used for hostile actions against Sweden.” However, as FOI points out, the land register does not specify the nationality of the owners, only their residential address, which makes it difficult to counter these threats.
According to FOI, the presence of Russian business entities in Sweden also entails the risk of technology transfer to Russia, or espionage activities.
In November, the SAPO security service arrested a Russian couple near Stockholm, suspected of having transferred secret financial information to Russia. The husband was likely connected to a company whose boss was likely to have been or still is active in Russia’s GRU military intelligence service, stressed Tomas Malmlöf, one of the report’s authors.
Swedish couple who immigrated from Russia more than 20 years ago were arrested for espionage. They worked in the “import-export” business, which should have been enough of a red flag (apologies to all the legitimate “impex international businessmen” out there 🙂 pic.twitter.com/ONIEydD0KB
— Christo Grozev (@christogrozev) November 22, 2022
Russian companies in question
The study took into account Russian companies operating in Sweden that have an annual turnover or assets valued at more than 180,000 euros and are owned by a Russian citizen. The total assets of these companies were valued at more than 3.12 billion euros.
The FOI report reveals that Russian companies operating in Sweden happen to be primarily in the construction industry, but some are also involved in trade, information, communications and real estate. By 2022, following Russia’s attack on Ukraine and the imposition of sanctions against Russia, 18 companies had changed ownership from Russian-owned, gone bankrupt, or otherwise completely ceased operations.
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