Swedish investment firms Movestic and Lysa are profiting from the blacklisted Israeli arms company Elbit, despite global concerns over human rights violations. Movestic has invested 14 million SEK in Elbit, while Lysa holds over two million SEK. This comes amid calls from UN human rights experts for an arms embargo against Israel. Movestic has announced plans to divest.
Swedish Funds Invest in Controversial Israeli Arms Company
Swedish Funds Invest in Controversial Israeli Arms Company
Swedish investment firms Movestic and Lysa are profiting from the blacklisted Israeli arms company Elbit, according to an investigation by Sveriges Radio Ekot.
Dozens of investment firms worldwide have blacklisted Elbit, citing Israel's human rights violations.
Movestic has purchased shares worth 14 million SEK in 2025 for the Movestic Global fund, which is marketed as a sustainable investment fund, while Lysa holds over two million SEK.
Elbit's stock value has doubled since autumn 2024, despite UN human rights experts calling for an arms embargo against Israel last June and highlighting investors in arms companies as potentially complicit in arms crimes.
According to Ekot, Movestic states that they will sell their holdings.