• Sweden edition
 

Swedish ministers profit from Lundin: report

Published: 13 Mar 2012 08:05 GMT+01:00
Updated: 13 Mar 2012 08:05 GMT+01:00

A review of government ministers' investment holdings by daily Aftonbladet has revealed that 13 of Sweden’s 24 ministers own shares in funds that finance Lundin Petroleum, which has shaken feathers at the Riksdagen.

Among those involved are prime minister Fredrick Reinfeldt, foreign minister Carl Bildt and EU minister Birgitta Ohlsson.

When confronted with the allegations, Ohlsson claimed she was fully aware of the holdings in her investment portfolio, and acted immediately.

“I have chosen to do my part by selling all of my funds,” she told the paper on Tuesday.

“There are probably many who were unaware of this. It's about Sweden's most common funds which own shares in several hundred companies that are continuously being replaced."

Meanwhile, political scientist Ulf Bjereld argued that politicians have a “moral responsibility” to watch over their own portfolios.

Lundin Petroleum has come under fire on several occasions, notably after they allegedly broke international law with crimes against humanity in South Sudan between 1997 and 2003.

Other ministers have refused to comment on the matter, according to Aftonbladet, and Reinfeldt’s press secretary has stated that he does not believe ministers should comment on their personal portfolios.

The Local/og (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

09:23 March 13, 2012 by AHA
Does that surprise anyone? I believe that many top Social Democrats have too.
09:34 March 13, 2012 by gpafledthis
What crap !! No minister should oversee their investments while in office !! Learn from us(US) the loot goes into a blind trust handled by others until we run them out with scorn-less than your-constant diatribes !! If I was in the swedish govt. I vote to euthanize the whole lot of you !!
09:35 March 13, 2012 by RobinHood
Lundin is a major Swedish company. Most Swedish savings, investment and pension funds hold Lundin shares, and almost everyone who saves, invests or has a private Swedish pension "profits" from Lundin.
10:26 March 13, 2012 by asteriks
Oooo, now we see why Sweden mix itself in wars and why Sweden help to Americans about colonizations of energy countries. Selling of weapon and stealing energy resources, that's politics of Carl Bildt.
11:46 March 13, 2012 by dogbasket
Well, if Aftonbladet (and apparently also The Local) want to continue their muck-raking "sensational news", they can take a look at Lundin Petroleum AB's 15 largest shareholders at

http://www.lundin-petroleum.com/sve/shareholder_statistics.php

where one can see that AMF Försäkring & Fonder is the 6th largest shareholder. AMF is a huge insurance and pension organisation owned 50% by the socialist trade-union organisation LO. Half of the board members of AMF are from LO. And the 14th largest shareholder of Lundin Petroleum AB is AFA Försäkring. Also an insurance giant that is owned one third by LO.

So it's high time that AB swept in front of its own socialist doorstep before criticising others for having a vague indirect investment in Lundin through funds owned by a large part of the Swedish population. Sad also that The Local blindly reprints muck written by Aftonbladet.
11:58 March 13, 2012 by Abe L
Why why why is this being displayed as a bad thing? THIS MAKES PERFECT SENSE. I would invest in Lundin as well and it's a gigantic asset to the Swedish economy and welfare. There is no moral responsibility, in fact we should encourage people to invest in these companies so they get bigger and contribute even more to the Swedish economy. The more financial means the larger their market and the easier it is to eliminate competition.
05:58 March 14, 2012 by skatty
And after all; it's oil,which say the last word!
Today's headlines
Boy receives cancer vaccine by mistake
Photo: Hasse Holmberg/TT

Boy receives cancer vaccine by mistake

A boy scheduled to be vaccinated against mumps, measles, and rubella instead received a vaccine against cervical cancer. His family has now reported the blunder for inspection. READ  

Sweden grants additional funds to jobs agency
Photo: Bertil Enevåg Ericson/TT

Sweden grants additional funds to jobs agency

The Swedish government has announced that it will increase funding to the jobs agency (Arbetsförmedlingen) in 2015, primarily to cover personnel costs but also to prevent long-term unemployment. READ  

Police 'powerless' against street racers
Police on E4 highway. Photo: Johan Nilsson/TT

Police 'powerless' against street racers

Stockholm police said they were powerless to react when streetracers took over at "insane speeds" on a large highway on Friday night. READ  

Saab carmaker wins receivership
Photo: Björn Larsson Rosvall/TT

Saab carmaker wins receivership

After initial rejection, a Chinese-owned company set up to take over Saab's assets after the troubled Swedish carmaker's bankruptcy said on Friday it had succeeded in being placed in receivership. READ  

Woman suffers cardiac arrest while giving birth
Photo: Tomas Oneborg/TT

Woman suffers cardiac arrest while giving birth

A 30-year-old woman went into cardiac arrest while giving birth at a Stockholm clinic - without hospital staff noticing that anything was wrong. She remains in a critical condition on Friday. READ  

Champions League
History repeats for Malmö fifty years later
Striker Magnus Eriksson during Malmö's 3-0 win over Salzburg in a Champions League qualifier. Photo: Björn Lindgren/TT

History repeats for Malmö fifty years later

Malmö's entry into the Champions League serves as a reminder of times gone by in European football. With Spain's champions bound for Sweden things just couldn't be better, writes contributor Lee Roden. READ  

Elections 2014
Löfven promises jobs to 50,000 young Swedes
Social Democrat leader Stefan Löfven. Photo: Fredrik Sandberg/TT

Löfven promises jobs to 50,000 young Swedes

Social Democrat party leader Stefan Löfven announced on Friday his "most important election promise", a 90-day job guarantee programme for young Swedes. READ  

 Sweden to buy fighter jets despite Swiss pullout
The Jas Gripen fighter aircraft. File photo: Wikimedia

Sweden to buy fighter jets despite Swiss pullout

Sweden said Friday it would go ahead with the purchase of a new generation of Saab Gripen fighter jets, despite Switzerland pulling out of a major co-financing deal. READ  

Three hurt after northern knife attack

Three hurt after northern knife attack

Three people are in hospital after they were stabbed during what police suspect was a gang-related attack in Umeå. READ  

Stockholm 'thief' turns out to be trainee ninja

Stockholm 'thief' turns out to be trainee ninja

Stockholm police rushed to the scene when a worried Swede reported that their neighbours were the victim of a break-in - but when officers arrived, they found nothing but a ninja in the middle of practice. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
People-watching August 27
Gallery
Top ten false friends in Swedish
National
Roma advocate scoops Wallenberg prize
Society
Meet the man who made a Swedish store recall its high heels for kids
Business & Money
'How I came to run my own business in Sweden'
Blog updates

25 August

Hit och dit, här och där (The Swedish Teacher) »

" Hej igen! A common challenge for Swedish language students are the location adverbs hit/här, dit/där, hem/hemma etc. Some of the location adverbs come in two versions. We should use one type of location adverb when we use a verb describes where we are, and we should use the other type of location adverb when we the verb..." READ »

 

25 August

The Dollar Store (Blogweiser) »

"A dollar store in Sweden. Blog post: http://t.co/tNuuvcP1q0 #USD #greenbacks #sweden #sverige pic.twitter.com/RHFAYf7U1k — Joel Sherwood (@joeldsherwood) August 23, 2014 There’s a chain here in Sweden called The DollarStore. This name always stood out to me in a country where they don’t use dollars. I went there for the first time this weekend. They actually accepted greenbacks..." READ »

 
 
 
Politics
Expert explains why Sweden's election oozes uncertainty
National
City plays Schindler's List theme at Nazi rally
Society
For Stockholm Fashion Week, here's the A-Z of Swedish fashion
National
'Amnesiac' man avoids deportation for ten years
Gallery
Princess Estelle through the years
Business & Money
Swedish city all set for six-hour workday trial
Business & Money
Five golden rules for the Swedish job hunt
Sponsored Article
Graduates: Insure your income in Sweden with AEA
Gallery
People-watching August 22-24
National
Armed royal guards caught (very) drunk on the job
National
Sweden orders textbook on Roma discrimination
Gallery
Violent anti-Nazi demonstrations in Malmö
Society
A closer look at Sweden's five official minority languages
Gallery
See the destruction from the southern Sweden floods
Politics
'Sweden Democrats hold the key to elections'
Society
Swedes celebrate first day of smelly fish season
Politics
Sweden elections: How do they work?
Finest.se
Gallery
People-watching August 20th
Society
Did you know the Bronx in NYC was named after a Swede?
Sponsored Article
Find out what gives this Swedish school executive appeal
Sponsored Article
Introducing...Your finances in Stockholm
Sponsored Article
Introducing...Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

771
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se