Zelensky Announces BlackRock Advising on Reconstruction Efforts, as Senior Executive Advises Treasury on Ukraine Funds
Ukrainian President Zelensky has revealed that the investment firm BlackRock will be advising on the “reconstruction” funding for Ukraine. Coincidentally, a senior BlackRock executive sits as a top advisor to the US Treasury Department on the Russia-Ukraine conflict.
In a press release on Wednesday, Zelensky, who recently appeared in front of Congress to demand even more money for Ukraine, revealed that he had a conference call with Larry Fink, the CEO of BlackRock.
“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,” the press release confirmed.
Zelensky records a video outside his office after a Russian bombing campaign (Ukraine state media)
Fink and BlackRock are now set to work closely with the Ukrainian government on “coordinating the efforts of all potential investors and participants in the reconstruction of [the] country,” with top executives from the investment firm set to visit Ukraine next year.
According to a report from the World Bank, the European Commission, and the Ukrainian government in June, the cost of rebuilding the country after the conflict would cost at least $349 billion in total. The estimates obviously do not include any damage inflicted within the last six months, meaning the total figure could be far greater.
Connections between Blackrock and money being funnelled into and out of Ukraine during the conflict runs deep. Eric Van Nostrand, the current head of research for multi-asset strategies and sustainable investments at BlackRock, somehow also has time to act as a senior advisor for the Treasury Department, specifically on the Russia/Ukraine conflict.
🚨🚨FACT CHECK TRUE:
"Eric Van Nostrand, BlackRock's former director is senior advisor on economic issues for Ukraine to the current WH."THIS MEANS YOU CAN NOW ASK: Is the Biden White House prolonging the war in Ukraine for the sake of ENRICHING Blackrock? pic.twitter.com/rd3DvV1Oh9
— Crab Man (@crabcrawler1) December 28, 2022
Van Nostrand only joined the administration in August of this year, but he’s not the first, or only person with ties to BlackRock to be part of the government. Mike Pyle, who currently serves as the chief economic advisor to Kamala Harris, and is a “key player on the Russia sanctions,” previously served as BlackRock’s chief investment strategist.
Two other former BlackRock executives were hired by Biden straight after the 2020 election. Brian Deese, the former head of sustainability, currently chairs the National Economic Council, while Adewale Adeyemo acts as the Deputy Secretary of the Treasury. All four previously worked for the Obama administration before going to BlackRock, and back to Washington.
Zelensky further announced that his administration are preparing to take part in January’s World Economic Forum event in Davos.
