Sweden’s Prime Minister Magdalena Andersson speaks to the press as she arrives at the European Union summit at The European Council Building in Belgium, Brussels, on the situation in Ukraine (February 24).
Andersson said that Sweden would send military aid to Ukraine, including anti-tank weapons, helmets, and body armor. “Sweden is now proposing direct support for Ukraine’s armed forces. It includes 135,000 field rations, 5,000 helmets, 5,000 body shields, and 5,000 anti-tank weapons,” Andersson told a news conference.
Sweden is preparing to close its airspace to Russian planes, following suit with European countries, including Britain Germany, in doing so in response to the invasion of Ukraine, a government minister said on Sunday.
Swedish EU Minister Hans Dahlgren told public service radio SR that the Nordic country would also be pushing for closure across the European Union.
Sweden and Finland are officially non-aligned; however, they have been NATO partners since the mid-1990s and ended their neutral stance at the end of the Cold War. At the time, Stockholm and Helsinki have ruled out applying to join the NATO military alliance, but the two countries have never been so close to taking the plunge.
After the Russian invasion of Ukraine, Swedes have been starting to hoard cash. The Swedes have begun to withdraw more money after the invasion of Ukraine. According to Bankomat, the increase of cash withdrawals is very high – around 30%. These statistics show that people realize how vital cash is for crisis preparedness.
Read also our article about Cashless Society and the potential digital currency “e-krona” backed by a Central Bank
Many people are buying gold, silver, and platinum to keep their money safe and not lose their money’s value. After Russia invaded Ukraine also, gold sales in Sweden have spiked. Some data suggest that the spike has been as steep as 35% since 22. February, the gold price has increased almost 5% in Swedish Krona terms – it is a massive spike for safe-haven assets like gold in such a short time!
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Disclaimer: This article is for informational purposes only and is not intended as an investment analysis or recommendation to sell or buy commodities. Tavex is not responsible for any decisions made based on this information. Investing is associated with opportunities and risks, and the market value of commodities can both increase and decrease. Past or future yields on the commodities and financial ratios shown above do not represent a promise or an indication of future earnings.