Skip to Content

BlackRock CEO Larry Fink. Screenshot from YouTube

Zelensky entrusts management of private investments in Ukraine to BlackRock

The Ukrainian government is teaming up with American investment firm BlackRock to "reboot its economy". A Memorandum of Understanding was signed on November 10, the Ukrainian Economy Ministry announced the next day. This agreement concerns the creation of a platform to attract private capital.

Published: December 1, 2022, 7:01 am

    Read more

    The Memorandum of Understanding, which was signed in Washington, means that an investment platform is made available to the Ukrainian government. The establishment will take place according to “a roadmap that Financial Markets Advisory, a company in the BlackRock group, will develop in consultation with the Ministry of Economy”.

    The statement stated that BlackRock’s advice will focus on the “platform structure, mandate and governance”. The platform “will focus on mobilizing investments in key sectors of the Ukrainian economy,” the statement continued.

    “It is very important for us to show the whole world that war does not prevent investment in Ukraine. After all, investments are the key to a future rapid and effective economic recovery,” says Ukrainian Economy Minister Yulia Svyrydenko. “We expect a lot from the collaboration with BlackRock’s FMA division [Financial Markets Advisory]. We hope that this restart platform will be an effective mechanism to mobilize investment in key sectors of our economy,” she added.

    Investments in wartime

    This Memorandum of Understanding follows the discussion between Ukrainian President Vladimir Zelensky and BlackRock CEO Larry Fink in September 2022. They discussed the possibility of a “pro-bono” advisory assignment by Blackrock’s FMA for the benefit of the Ukrainian government. The mandate will focus on “the structuring of a reconstruction fund, the investment process, governance and use of the funds raised for the fund,” it said.

    BlackRock’s subsidiary quickly came to the rescue. Barely a week after the agreement was signed, the fund manager participated in a so-called “due diligence”, a corporate inspection, of a $500 million commitment from Australian iron ore magnate Andrew Forrest to start a $25 billion international investment fund to help Ukraine.

    Kiev: The ‘charging station’ for an electric vehicle. Photo credit: Marjan Blan

    This fund will be used to finance “energy and communication infrastructure, including a green energy grid”.

    According to Zelensky, “Andrew and I agreed that we will not replace the Russian infrastructure from the communist era, but rather take a step forward to the latest technology”. He added: “We will benefit from the fact that what the Russians have destroyed can easily be replaced by the latest and most modern green and digital infrastructure.”

    Ukraine ‘sold’ to Blackrock

    BlackRock created the Financial Markets Advisory after the “financial crisis of April 2008 to provide dedicated support to governments, central banks and financial institutions worldwide”. It is a “separate and independent business from BlackRock’s traditional asset management business,” according to the US company’s website.

    In the first weeks of the war in Ukraine, BlackRock recorded a loss of $17 billion. According to the Financial Times, the valuation of Russian securities managed by the global asset management giant fell from 18,2 billion at the end of January to 1 billion on February 28, 2022.

    The signing of the memorandum of understanding between BlackRock and Ukraine went almost unnoticed. On Twitter, netizens accused Zelensky of having “sold” Ukraine to the United States. “That was what lay behind the ‘struggle for the freedom of Ukraine'”, the French politician François Asselineau noted.

    The announcement of this agreement between the Ukrainian government and BlackRock also comes at a time when European countries accuse the US of profiting from the war at the expense of Europe through the sale of weapons and gas exports at high prices.

    Consider donating to support our work

    Help us to produce more articles like this. FreeWestMedia is depending on donations from our readers to keep going. With your help, we expose the mainstream fake news agenda.

    Keep ​your language polite​. Readers from many different countries visit and contribute to Free West Media and we must therefore obey the rules in​,​ for example​, ​Germany. Illegal content will be deleted.

    If you have been approved to post comments without preview from FWM, you are responsible for violation​s​ of​ any​ law. This means that FWM may be forced to cooperate with authorities in a possible crime investigation.

    If your comments are subject to preview ​by FWM, please be patient. We continually review comments but depending on the time of day it can take up to several hours before your comment is reviewed.

    We reserve the right to del​ete​ comments that are offensive, contain slander or foul language, or are irrelevant to the discussion.


    Macron deputy consumes cocaine but justice system closes investigation

    ParisAn investigation by Médiapart revealed that the Renaissance deputy of Hauts-de-Seine Emmanuel Pellerin used cocaine, before as well as after his election.

    Sweden’s NATO membership bid goes up in smoke

    StockholmAfter the burning of the Quran in Stockholm, Turkey has no intention of allowing Sweden to join NATO. Sweden's Prime Minister, on the other hand, pointed to the importance of freedom of expression. The NATO Secretary General also spoke up on the matter.

    Internal EU report: Asylum applications has increased by half except in Hungary

    BerlinThe asylum disaster continues unabated in 2023. According to a confidential "Status Report on Migration and Refugees" by the EU Commission dated January 11, the number of asylum applications in the EU rose by around half in the past year to well over 900 000.

    French pension reform: 150 000 young demonstrators according to organisers

    ParisSome 150 000 students marched in Paris on January 21 against pension reform, according to the youth organisations that initiated the demonstration, but only 14 000 according to sources close to the Macron administration.

    Corruption thriller: Zelensky’s deputy minister arrested

    KievJust 14 days after the President of the Ukrainian National Bank (who is said to have embezzled 5,42 million euros) applied for asylum in Austria, Deputy Minister Wassyl Losynsky was arrested.  

    Mild weather thus far saving Europe from an energy crisis

    Countries across Europe are currently experiencing warmer-than-expected weather for the first few days of the year. Experts say that even if an energy crisis has been averted for the moment, cold weather or supply delays could still create an upheaval further down the line.

    Macron announces that climate crisis has arrived ‘faster than expected’

    ParisThe French president has spoken out in a YouTube video in response to comments from climate cultists, NGOs and green political opponents who were "shocked" by remarks made about the climate during his December 31, 2022 greetings.

    Three months into Meloni tenure sees migrant arrivals exploding

    RomeIt has been a disturbing development. Despite its right-wing government, which has now been in office for almost three months, the number of illegal immigrants in Italy continues to rise steeply. This has caused many voters to become dissatisfied with the right-wing government under Giorgia Meloni.

    Sweden: Government declares war on migrant gangs

    StockholmSweden has been experiencing non-stop explosions, shootings and murders for weeks now. The cities of Stockholm and Malmö are particularly affected and the police have been overwhelmed. The government intends to lead the charge against escalating violence by various migrant gangs.

    French publishers discover ‘sensitivity readers’

    ParisReaders who track down ethnic and sexual prejudices that may offend certain non-white minorities in books, are emerging in French publishing. Known as "sensitivity readers", they are now routinely employed before a book is published, especially if the author is writing about cultures outside their lived experience.

    Go to archive