Zelensky Courts JPMorgan, Bank of America & Bridgewater CEOs At Davos, Urges More Money From West
As expected, anything related to Ukraine presented at the World Economic Forum (WEF) in Davos has been focused on more weaponry and seeking more vows of integration among Western allies.
"Ukrainians need predictable financing throughout 2024 and beyond," European Commission president Ursula von der Leyen told World Economic Forum participants. "They need a sufficient and sustained supply of weapons to defend Ukraine and regain its rightful territory."
As for President Zelensky, in addressing world leaders at the forum he emphasized that the West needs to help Ukraine achieve air superiority if his forces are to have a chance to emerge victorious against Russia.
"We must gain air superiority for Ukraine. Just as we gained superiority in the Black Sea, we can do it. This will allow progress on the ground … Partners know what is needed and in what quantity,” the Ukrainian leader said.
"After 2014, there were attempts to freeze the war in Donbas. There were very influential guarantors, the chancellor of Germany, the president of France. But Putin is a predator who is not satisfied with frozen products," Zelensky continued in his address at Davos.
At the summit, US Secretary of State Antony Blinken promised that Washington will keep up its support for Ukraine, however while keeping things vague - following Biden's proposed foreign defense budget request being reject by GOP members in Congress; and NATO chief Jens Stoltenberg suggested Ukraine is moving closer to entry into the alliance.
Stoltenberg acknowledged a "serious battlefield situation" but also said there is "cause for optimism" after nearly two years of fighting, and NATO's constant support.
Below is a portion of the NATO press readout based on his panel speech:
Conversely, he said that "Russia has lost what they wanted to achieve with the war, and that was to control Ukraine"; Ukrainians are now firmly oriented to the West, aspiring for membership in NATO and the European Union. The Secretary General also stressed that “support for Ukraine is not charity; it’s an investment in our own security”.
Pointing to the increasingly global nature of security, Mr Stoltenberg noted that close NATO partners Japan and South Korea are also concerned about Russia’s war against Ukraine, as a victory for President Putin would increase the likelihood of Beijing using force elsewhere.
But realistically, the prospect of Ukraine gaining full NATO membership would be a process of years, and would likely trigger WW3 with Russia--so to some degree this is all empty posturing.
But here's what's happening at Davos which is arguably more important to Kiev at the moment:
Ukraine is seeking new ways to finance its rebuilding plans as vital aid from the West slows down. President Volodymyr Zelenskyy reportedly has plans to meet JP Morgan's CEO at the World Economic Forum.
Ukraine's President Zelenskyy is reportedly planning to meet JPMorgan CEO Jamie Dimon at the World Economic Forum in Davos to seek new ways of financing its rebuilding plans.
JP Morgan, the biggest US bank with almost half a trillion dollars of market capitalization, has already been advising Ukraine on financing reconstruction.
It's as yet unclear if any firm promises were made or agreements struck at the Davos meeting which also included Bank of America’s Brian Moynihan, as well as Bridgewater’s Ray Dalio.
According to further details of who was in attendance via Fox Business: "Other meeting attendees included David Rubinstein of the private equity firm Carlyle Group; billionaire entrepreneur Michael Dell, the founder of Dell Technologies; Ray Dalio of Bridgewater Associates, the world's largest hedge fund; Steve Schwarzman, the CEO of Blackstone, the world’s largest private equity fund; and Philipp Hildebrand, representing BlackRock, the world's largest money manager."
Additionally, "Dimon was accompanied by Mary Erdoes, who runs JPMorgan’s asset-management unit. The White House was represented by Penny Pritzker, of the super-wealthy Pritzker family and a major Democratic Party donor." Pritzker has been appointed Biden administration's special representative for Ukraine’s economic recovery.
See more below...