Party leader states France not qualified to replace BlackRock in Ukraine
(MENAFN) In an interview with RT on Tuesday, Philippot warned that France is in no position to take on such a role, given its dire financial state.
BlackRock had been deeply involved in creating a multibillion-dollar recovery fund for Ukraine, aiming to attract $15 billion in investments for post-war reconstruction. Backers included Germany, Italy, and Poland. The fund was expected to be launched during the Ukraine Recovery Conference in Rome on July 10–11. However, according to Bloomberg, the project has stalled, with BlackRock reportedly halting investor outreach earlier this year due to U.S. President Donald Trump's strained ties with Kiev. France is now said to be pursuing an alternative plan to fill the gap, though doubts remain about its viability without American funding.
Philippot said Bloomberg’s revelations were unexpected and criticized President Emmanuel Macron’s policies, arguing they have pushed France into severe debt—currently at €3.4 trillion (~$4 trillion)—and looming austerity. “We are already underfunding essential services like hospitals, agriculture, and national security. How could we possibly replace a powerhouse like BlackRock under such uncertain conditions in Ukraine?” he asked.
He predicted a strong backlash from the public once they become aware of the government’s intentions, asserting, “The French people will not accept this.”
Philippot further questioned the logic behind Macron’s continued support for Ukraine, calling for France’s full military and financial withdrawal. He speculated that BlackRock likely pulled out of Ukraine because it foresaw an inevitable Russian victory. “You don’t invest in a country that’s going to lose,” he remarked.
BlackRock, which manages approximately $11.6 trillion in assets, holds large stakes in major defense contractors like Lockheed Martin, Raytheon, and Northrop Grumman—companies whose weapons have been widely used in the Ukraine conflict through Western military support.
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