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Larry Fink, head of the world’s largest BlackRock asset fund, has recently said that Russia’s invasion of Ukraine has halted the world order that has been in place since the end of the Cold War.
“The Russian occupation of Ukraine has put an end to the globalization we have seen in the last three decades,” Fink said in a shareholder report. 2022 . “This has left many peoples and communities isolated, looking no longer outside but from sources within themselves. It has increased the polarization and extremist behavior we see in the world today. “
Fink’s letter to shareholders comes a month after Moscow’s invasion of Ukraine, as US allies impose unprecedented sanctions on Russia, while at the same time helping Ukraine sparingly.
Fink’s company, which manages more than $ 10 trillion in funds and assets, says the nations have joined forces to launch an “economic war” against Russia. He adds that BlackRock has taken steps to ban the purchase of Russian shares.
“In recent weeks I have talked to shareholders, clients and employees trying to stop the deployment of capital in Russia.”
“Fink says that in the early 1990s, after the Cold War, Russia was welcomed into the global financial system.”
At that time BlackRock took advantage of the growing trend of globalization and capital markets, and even according to him, this brought technology-based asset management.
The head of BlackRock says he is committed to monitoring the impact of crises to understand the investment environment, while “everything at the service of their customers”.
“The money we manage belongs to the customers, we serve them and we try to understand how changes around the world affect the results of investments,” says the financier.
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