The Moral Trade-Off: Can Sweden balance humanitarian values with strategic realism?

France’s gamble on Palestine and Sweden’s struggle for strategic clarity

The Tel Aviv Stock Exchange has surged nearly 50 percent since the start of the year. The TA35 index is up 90 percent in dollar terms. Bank Leumi has doubled in value. Elbit Systems, which holds contracts with the Swedish Armed Forces, has risen more than 75 percent. These are not just numbers—they are signals. While bombs fall over Gaza and the world calls for humanitarian justice, capital is making its own choices. It’s a paradox that unsettles, but also a reality that demands reflection. As some call for trade boycotts, others—including Swedish pension funds—are investing in Israeli companies.