BlackRock CEO & Zelenskyy Shake Hands on Ukraine Investment

Paigambar Mohan Raj
Source: Financial Times

The Russia-Ukraine conflict has had repercussions globally. Financial markets and the energy sector have both taken a beating. In a recent turn of events, Volodymyr Zelenskyy, the president of Ukraine, and Larry Fink, the CEO of BlackRock, are planning to coordinate investments in reconstructing Ukraine. The country is facing severe bombardment from Russian forces, causing massive property defacement.

According to the Ukrainian President’s website reading,

“ Both parties 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.”

Last week, Zelenskyy traveled to Washington, D.C., to meet with American President Joe Biden and give a speech to Congress.

How is BlackRock assisting Ukraine?

Zelenskyy and Fink held a video conference, during which the deal mentioned above was agreed upon. The two met in September to encourage public and private investment in Ukraine to reconstruct the country following Russia’s devastating invasion.

In November, a memorandum of agreement was struck between the Ukrainian Ministry of Economy and BlackRock Financial Markets Advisory. As one of the largest investment managers in the world, BlackRock has been offering advice on creating an investment framework. The objective is to make it possible for both public and private investors to participate in future economic recovery and rebuilding in Ukraine.

Additionally, certain BlackRock executives intend to travel to Ukraine in the coming months. President Zelenskyy praised Fink for the assistance provided by BlackRock. A team has been assigned to advise on the organization of the rehabilitation projects.

Ukraine’s war effort has received a lot of support globally as well as from the crypto community. Early in the year, Ukraine supporters gathered up to $64 million through crypto donations in just one month. However, the falling prices of crypto assets hampered the value of the grants received. Regardless, the war does not seem to show signs of slowing down. With winter now upon us, the energy crisis stemming from the conflict is taking center stage.