Larry Fink is the chairman and CEO of BlackRock Asset Management, which claims that Russia’s invasion of Ukraine has upset the global order established since the Cold War.

Fink stated in his article, “The Russian invasion Ukraine has ended the globalization that we have witnessed over the past three decades.” 2022 letter to shareholders. It has made many people feel isolated and forced to look inward. It has created an environment that encourages extremism and polarization in our society.

Fink wrote a letter one month ago Russia’s invasion of UkraineWith Moscow forces bombing civilian areas across the country, and executing those who are unable to flee, The United States and its allies have placed unprecedented sanctions against Russia and given military support to Ukraine. 

Fink, who oversees over $10 trillion in assets, stated that governments and nations have joined hands to launch an “economic warfare” against Russia. BlackRock also took steps to stop the sale of Russian securities from its index or active portfolios, he said.

Fink stated, “Over the last few weeks, I have spoken with countless stakeholders including clients and employees who want to know what can be done to stop capital being sent to Russia.”

Fink wrote that Russia was accepted into the international financial system in the 1990s, when the Cold War ended. He also gave Russia access to the capital markets. He said that globalization has accelerated international commerce, increased global capital markets, and stimulated economic growth.

Fink explained that BlackRock was created exactly 34 years ago. It benefited tremendously from the growth and globalization of capital markets. Fink also stated that technology-driven asset management was a necessity.

I remain a firm believer in globalization’s benefits and global capital markets. Fink explained that access to global capital is essential for companies and nations to grow their economies, as well as for people to enjoy financial wellness.

BlackRock CEO stated that the company is dedicated to monitoring both the direct and indirect effects of the crisis, and plans to learn how to navigate the new investment environment.

The money we manage is our client’s. Fink explained that in order to better serve our clients, Fink works to determine how world events will affect investment returns.