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This is what I did on my 98 s70 which I believe use the same fuel pump design.
Use a pin punch or a screwdriver. Tap on nut lightly on several places on a counter clockwise direction to break up any hardened material. Have another person tap it on the other side of the nut while you you do the same at the exact time on the opposite side of the nut to equalize the turning pressure. Do this on several places. Be patient and don't do it too hard. If it does not come loose will light tapping, buy the special tool to remove it.
Do this when the fuel tank is real low of fuel. WARNING: disconnect the battery before do it. Lastly, don't do this inside your garage.
Good luck!
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