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Sweden remains owner of company in Russia

Despite several years of extensive sanctions against companies trading with Russia, the Swedish state is still a co-owner of a Russian joint-stock company – together with the city of St. Petersburg, writes Altinget.

» Published: 18 December 2024

Sweden remains owner of company in Russia
Photo: Erik Simander/TT

The company in question is the Russian joint-stock company Sweden House, which the Swedish state owns 36 percent of. Other shareholders are the city of St. Petersburg, which owns 15 percent, and Ladoga Holding AB, a subsidiary of the Swedish real estate company CA Fastigheter, which owns 49 percent.

Elisabeth Thand Ringqvist (C), Vice Chairman of the Riksdag's Industry Committee, thinks this ownership is unreasonable.

Getting out of an ownership in an orderly manner cannot take more than a year. It has taken almost three years, she says to Altinget.

Thand Ringqvist believes that the ownership undermines the government's work to push for sanctions against Russia, among other things within the EU.

The company is a real estate company that has control over the so-called Sweden House, a property in central St. Petersburg with, among other things, office spaces.

Previously, the Swedish Consulate General in St. Petersburg was located in the property, but it was closed down in the autumn of 2023 by decision of the Swedish government.

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By TTThis article has been altered and translated by Sweden Herald

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