Thu Mar 20 17:56:08 UTC 2025: ## Swedish Pension Fund Divests from Bharat Electronics Over Myanmar Arms Sales

**NEW DELHI, March 20, 2025** – The AP Pension Fund of Sweden has divested from Bharat Electronics Limited (BEL), a leading Indian public sector aerospace and defence company, due to its arms sales to the Myanmar military junta. The fund’s Ethics Council cited BEL’s supply of radar systems, air defence stations, radio systems, and naval equipment to the Myanmar military, both before and after the February 2021 coup.

The Council’s annual report states that these arms sales contribute to the military’s violence against civilians, violating international humanitarian law. Despite attempts to contact BEL, the company did not engage in dialogue with the Council. Prior to divestment, the fund held over US$33.8 million in BEL shares.

Justice for Myanmar, an advocacy group, welcomed the decision, highlighting that BEL’s actions violate UN Guiding Principles on Business and Human Rights and expose the company and its personnel to potential legal liability. The group emphasized BEL’s awareness that the weaponry would be used against unarmed civilians. The Myanmar military, since seizing power, has faced ongoing resistance from pro-democracy protesters and ethnic armed organizations.

Read More