• Sweden's news in English

Swedish ministers profit from Lundin: report

The Local/og · 13 Mar 2012, 08:05

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

Facebook Twitter Google+ reddit

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.

Story continues below…

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)

Facebook Twitter Google+ reddit

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


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
Hundreds protest Swedish asylum laws
Around 1,000 people protested in Stockholm. Photo: Fredrik Persson/ TT

Hundreds of people on Saturday demonstrated in Stockholm and in many other parts of the country to protest Sweden’s tough new laws on asylum-seekers.

Dylan removes Nobel-mention from website
The American musician has more or less responded to the news with silence. Photo: Per Wahlberg

American singer-song writer Bob Dylan has removed any mention of him being named one of this year’s Nobel Prize laureates on his official website.

Refugee crisis
Asylum requests in Sweden down by 70 percent
Sweden's migration minister Morgan Johansson. Photo: Christine Olsson/TT

Sweden received 70 percent fewer requests for asylum in the period between January and September 2016 than it did during the same time last year, the country’s justice and migration minister Morgan Johansson has revealed.

The unique story of Stockholm's floating libraries
The Stockholm archipelago book boat. Photo: Roger Hill.

Writer Roger Hill details his journeys on the boats that carry books over Stockholm's waterways and to its most remote places.

Refugee crisis
Second Stockholm asylum centre fire in a week
The new incident follows a similar fire in Fagersjö last week (pictured). Photo: Johan Nilsson/TT

Police suspect arson in the blaze, as well as a similar incident which occurred last Sunday.

More misery for Ericsson as losses pile up
Ericsson interim CEO Jan Frykhammar presenting its third quarter results. Photo: Claudio Bresciani/TT

The bad news just keeps coming from the Swedish telecoms giant.

Facebook 'sorry' for removing Swedish cancer video
A computer displaying Facebook's landing page. Photo: Christine Olsson/TT

The social media giant had censored a video explaining how women should check for suspicious lumps in their breasts.

Watch this amazing footage of Sweden’s landscapes
A still from the aerial footage of Sweden. Photo: Nate Summer-Cook

The spectacular drone footage captures both Sweden's south and the opposite extreme, thousands of kilometres north.

Sweden could be allowed to keep border controls: EU
Police ID checks at Hyllie station in southern Sweden. Photo: Stig-Åke Jönsson/TT

Sweden could be allowed to keep ID controls on its border with Denmark beyond the current end date of November, following discussions among EU leaders in Brussels last night.

Why women in Sweden will work for free by November
File photo of a woman working in a Swedish office. Photo: Anders Willund/TT

A new study into the gender pay gap suggests Sweden still has some work to do.

Sponsored Article
This is Malmö: Football capital of Sweden
Fury at plans that 'threaten the IB's survival' in Sweden
Sponsored Article
Where is the Swedish music industry heading?
Here's where it could snow in central Sweden this weekend
Analysis & Opinion
Are we just going to let half the country die?
Blog updates

6 October

10 useful hjälpverb (The Swedish Teacher) »

"Hej! I think the so-called “hjalpverb” (auxiliary verbs in English) are a good way to get…" READ »


8 July

Editor’s blog, July 8th (The Local Sweden) »

"Hej readers, It has, as always, been a bizarre, serious and hilarious week in Sweden. You…" READ »

Sponsored Article
7 reasons you should join Sweden's 'a-kassa'
Angry elk chases Swede up a lamp post
Sponsored Article
Why you should 'grab a chair' on Stockholm's tech scene
The Local Voices
'Alienation in Sweden feels better: I find myself a stranger among scores of aliens'
People-watching: October 20th
The Local Voices
A layover at Qatar airport brought this Swedish-Kenyan couple together - now they're heading for marriage
Sponsored Article
Stockholm: creating solutions to global challenges
Swede punches clown that scared his grandmother
Sponsored Article
Swedish for programmers: 'It changed my life'
Fans throw flares and enter pitch in Swedish football riot
Could Swedish blood test solve 'Making a Murderer'?
Sponsored Article
Top 7 tips to help you learn Swedish
Property of the week: Linnéstaden, Gothenburg
Sponsored Article
How to vote absentee from abroad in the US elections
Swedish school to build gender neutral changing room
People-watching: October 14th-16th
Sponsored Article
'There was no future for me in Turkey'
Man in Sweden assaulted by clowns with broken bottle
Sponsored Article
‘Extremism can't be defeated on the battlefield alone’
Nobel Prize 2016: Literature
Sponsored Article
Stockholm: creating solutions to global challenges
Watch the man who discovered Bob Dylan react to his Nobel Prize win
Sponsored Article
Why you should 'grab a chair' on Stockholm's tech scene
Record numbers emigrating from Sweden
Sponsored Article
'There was no future for me in Turkey'
People-watching: October 12th
Sponsored Article
Where is the Swedish music industry heading?
The Local Voices
'Swedish startups should embrace newcomers' talents - there's nothing to fear'
Sponsored Article
Last chance to vote absentee in the US elections
How far right are the Sweden Democrats?
Property of the week: Triangeln, Malmö
Sweden unveils Europe's first elk hut
People-watching: October 7th-9th
The Local Voices
Syria's White Helmets: The Nobel Peace Prize would have meant a lot, but pulling a child from rubble is the greatest reward
Missing rune stone turns up in Sweden
Nobel Prize 2016: Chemistry
jobs available