Sweden's ruling Social Democrats will decide at the latest by 24 May whether to reverse the party's long-held objection to NATO membership, following a review of policy sparked by Russia's invasion of Ukraine.
Both Finland and Sweden are scrambling to adjust to a new geopolitical reality in the wake of what Moscow calls its "special military operation".
"The question is what we Social Democrats now see is the best way to ensure Sweden's and the Swedish people's safety and at the same time how we can continue to be a strong voice for human rights, international peace and security," party secretary Tobias Baudin said in a statement.
The party leadership will make the final decision based on consultations with party members.
With a majority in Sweden's parliament already supporting membership, a shift in position by the Social Democrats - whose objections to NATO are widely seen as the biggest hurdle to membership - would ease the way for Sweden to submit an application.
Sweden is also conducting an all party review of security policy, which will report by mid-May.
A decision by Finland on whether or not to apply is expected in the coming weeks and if Helsinki goes ahead, that will heap pressure on Sweden to follow suit.