• BlackRock executives met with UK leaders. The firm’s close ties to Israel’s financial & military sectors, amid ongoing violations of international law, raises ethical concerns.
• BlackRock’s investments in Israeli banks and defence contractors, coupled with CEO Larry Fink’s pro-Israel stance, link the firm to staunch Zionist objectives.
On November 21, senior executives from BlackRock, the world’s largest asset management firm, met with UK Prime Minister Keir Starmer and Chancellor Rachel Reeves at Downing Street. Labour has stated that the meeting was emblematic of its embrace of private capital as a linchpin for economic growth, reflecting a deliberate alignment with global financial behemoths such as BlackRock. The geopolitical consequences of this partnership, particularly its entanglement with Israel and the advancement of Zionist interests, demand unwavering scrutiny. This becomes particularly pertinent given Israel’s ongoing violations of international law and its role in war crimes.
Labour’s Ties to BlackRock and Private Capital
Labour’s relationship with BlackRock, cultivated during its time in opposition, has deepened since it entered government. BlackRock CEO Larry Fink, known for his vocal support of Israel, played a prominent role at Labour’s investment summit last month, and posed for photos with Starmer during the latter’s September visit to New York. BlackRock’s growing influence was further highlighted at a summer reception hosted by Downing Street, attended by senior figures from the firm.
Keir Starmer’s government has stated that they are positioning private sector partnerships as crucial to rebuilding the UK’s economy. This strategy involves leveraging BlackRock to finance large-scale infrastructure projects. A
July letter from Anthony Manchester, BlackRock’s managing director and a former UK civil servant, to Secretary of State Jonathan Reynolds strengthened this alignment. Manchester emphasised BlackRock’s shared vision with Labour on infrastructure investment as a vehicle for economic growth. Reynolds’ effusive reply praised BlackRock’s “impressive reach” and pledged close collaboration, stating, “Together, we will change the face of our United Kingdom for the better.”
BlackRock’s Geopolitical Entanglements and Zionism
BlackRock’s financial reach cannot be divorced from its geopolitical implications. The firm has substantial investments in Israeli banks and technology sectors, which strengthen Israel’s economic infrastructure. For instance, BlackRock recently acquired a 3% stake in Bank Hapoalim, Israel’s largest bank, citing robust returns. Furthermore, BlackRock maintains stakes in major U.S. defence contractors such as Lockheed Martin and Northrop Grumman, whose weapons are used by Israel in its military campaigns against Palestinians. These connections underscore their implicit endorsement of the ongoing and brutal genocide in Gaza.
Larry Fink’s staunch support for Israel aligns BlackRock with Zionist objectives, particularly in its role in sustaining Israel’s economic dominance. When the Biden administration deployed a nuclear-powered aircraft carrier to the Middle East to deter Iran amid escalating tensions, Fink lauded it as “a spectacular statement by the United States.” Such remarks underscore the firm’s alignment with pro-Israel policies, even as International scrutiny of Israel intensifies.
Zionism, Labour, and Public Perception
BlackRock’s investments in Israel, coupled with its CEO’s vocal support for Zionist policies, have drawn attention to the ideological underpinnings of Labour’s economic partnerships. While these collaborations may seemingly solely focus on financial strategy, their broader implications include reinforcing narratives that align with Zionist geopolitical goals.
Keir Starmer’s recent social media post following the Downing Street meeting encapsulates Labour’s vision: fostering growth through close collaboration with global investors. He stated, “BlackRock has a big footprint in the UK… Their insight on making the UK a top investment destination and turbocharging growth is invaluable.” However, the ethical and political implications of this partnership are highly contentious, especially considering BlackRock’s role in perpetuating structures that fuel genocide, contributing to the tragic deaths of 186,000 Palestinians, as reported by The Lancet, with children aged 5 to 9 being the most targeted in Gaza.
