Russian firms pose a security risk to the country: Swedish Defence Research Agency

According to a report published on December 6, 2022, by the Swedish Defense Research Agency (FOI), Russian corporations pose a threat to the nation's security. There are 128 Russian-owned companies in Sweden, four of which are on the EU sanctions list, while one is on the US and UK blacklists.

The Swedish Defence Research Agency, FOI, is one of Europe’s leading research institutes in defence and security. FOI is a government agency under the Ministry of Defence, and most of its activities are assignment-based. However, its client list includes the Swedish Armed Forces, the Swedish Defence Materiel Administration, Government Offices and the Swedish Civil Contingencies Agency.

The research, which the Stockholm government ordered, emphasises the security concerns of relying on Russian goods and inputs. Sweden’s only aluminium producer, Kubikenborg Aluminium AB (Kubal), is owned by the Russian aluminium giant, known by its class of producing aluminium. However, the market for fertiliser in Sweden is controlled by other Russian businesses.

Additionally, the FOI report revealed that several Russian-owned properties "may be exploited for unfriendly operations against Sweden." However, as FOI notes, the real estate registration only lists the residence address of the owners and not the nationality, making it challenging to mitigate these risks.