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Two Swedish banks finance nuclear weapons

Thursday, 10 October 2013
Swedish banks, SEB and Handelsbanken are said to have provided financing for nuclear industry by presenting themselves as favourable lenders to new investments.

Radio Sweden reports that Cecilia Widebäck West, sustainability manager at SEB Bank has taken a first step away from involvement with nuclear weapons industry.

The business has to do with large sums - 314 billion dollars and that some 300 banks around the world are investing in the nuclear industry, according to the report that anti-nuclear organization ICAN and Swedish physicians against nuclear weapons presents today, reports radio Sweden.

The black, according to radio Sweden are major Swedish bank Handelsbanken and SEB which have provided loans in the billions to companies that are involved in developing nuclear weapons.

“Nuclear weapons are inhumane weapons,” says Susi Snyder, one of the report authors and by highlighting the banks' financial links to the nuclear industry, the authors hope to stimulate debate.

Nuclear weapons, unlike chemical or biological weapons are not banned by international law. But there are according to Susi Snyder pressure on the issue, and she hopes that bank customers should start putting pressure on their banks and asked if their deposits in them are used for such purposes.

Handelsbanken would not comment on the report. SEB has however been in talks with the authors about the bank's financial involvement in the arms industry.

Sweden and its relationship with the lucrative arms industry have been extremely cosy for a while now - there for this should not be a new issue. They are involved in the production and sale of arms or military hardware to whoever, all over the place.

Rough states such as dictators in the Middle East and elsewhere have been identified as fervent customers thus, who really find this news surprising?
By Scancomark.com Team

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