BlackRock creates a road map to buy Ukraine

Ukraine now has a Western backing. It’s not a nation-state, or a military contractor. It’s the financial firm BlackRock.

Ukraine announced Wednesday that Volodymyr Zelensky (Ukraine’s President) had a video teleconference on Wednesday with Larry Fink, BlackRock Chief Executive Officer. They apparently reached a deal to coordinate investments efforts in rebuilding the war-torn country.

A readout of the meeting on the Ukrainian president’s website boasted BlackRock’s involvement, calling the firm “one of the world’s leading investment managers” It was also noted “manages client assets worth about 8 trillion dollars.”

“Zelenskyy and Larry Fink agreed to focus in the near term on coordinating the efforts of all potential investors and participants in the reconstruction of our country, channelling investment into the most relevant and impactful sectors of the Ukrainian economy,” The readout was claimed.

According to the release, some BlackRock executives were also expected to visit Ukraine in 2023 for their advisorial duties. “In accordance with the preliminary agreements struck earlier this year between the Head of State and Larry Fink, the BlackRock team has been working for several months on a project to advise the Ukrainian government on how to structure the country’s reconstruction funds,” According to the Ukrainian government.

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One example of such a preliminary agreement The memorandum of agreement between BlackRock Financial Markets Advisory and the Ukrainian Ministry of Economy was signed in Washington, D.C. on November 10, 2022. The memo said that BlackRock FMA would advise the Ukrainian government, specifically the Ministry of Economy, on an investment roadmap for the reconstruction of Ukraine’s economy. 

BlackRock’s press release about the November 10 memo is chock full of hollow corporate speak. According to the release, BlackRock will work with Ukraine “on establishing a roadmap for the investment framework’s implementation, including identifying design choices for the envisioned setup, structure, mandate and governance.”

A previous meeting in September between Zelensky and Fink, apparently arranged by Andrew Forrest of the Fortescue Metals Group, laid the groundwork for the Ukrainian government’s growing cooperation with BlackRock. According to reports, the BlackRock CEO met with the Ukrainian President to discuss how to attract investment from both public and private sources to Ukraine.

In the States, the NYC-based Investment Firm has been making major headlines. A report by the Wall Street Journal BlackRock was cited as one of the major investors causing market distortions over the summer. This report detailed how BlackRock and other firms like it are using large amounts of capital to purchase single-family homes, driving up prices. 

The price rises have two immediate economic consequences. The first is that higher housing costs are a benefit to properties owned by BlackRock, particularly in areas where it has made significant investments. Second, the artificially high prices make it difficult for working families to afford homes. This leaves only the wealthy and investment firms with large capital resources as the only remaining players in the market. According to reports, Fink is responsible for one quarter of all home purchases in Houston. He’s simply buying up entire neighborhoods and using them as rentals. BlackRock is helping create a permanent renters class, though it’s long been understood that homeownership is one of the key elements to building wealth and maintaining the American middle class.

This is quite frustrating: it is almost certain that BlackRock will be paid handsomely by Ukraine for its assistance in constructing the reconstruction roadmap. Is the Ukrainian government getting funding now? Given its economic woes and the cost of war, it is hard to believe. Of course, the United States government. By the end of the calendar year, the U.S. will have provided $13 billion in direct budgetary support for Ukraine’s government to avoid shortfalls and outright bankruptcy, and President Joe Biden has promised to support Ukraine for “as long as it takes.”

BlackRock receives a payment from the U.S. through the Ukrainian government for a plan to ensure success in their future investments into Ukraine. The plan is based on money that was earned by making American homes unaffordable. Why would they ever want to make peace with such a deal for their political and financial elite?

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