The Neo-Cons’ Proxy War “Against Ukraine”: Nuclear War is On the Table. The Privatization of Ukraine

By Prof Michel Chossudovsky

Global Research,

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First published by GR on June 29, 2023


In this article, I will be focussing on the NeoCon agenda, largely inspired by The Project for the New American Century. (PNAC).

The Neocons exert control over foreign policy. They are involved in bribing and manipulating politicians and decision-makers. They have played a key role in defining nuclear doctrine on behalf of powerful financial interests.  

The PNAC has called for establishing “Superiority in Nuclear Weapons” (applied to Russia) coupled with a profit driven expansion of the military industrial complex.

The NeoCon agenda, as formulated by the PNAC (2000) follows in the footsteps of The Cold War “Truman Doctrine” In the words of George Kennan:

“The day is not far off when we are going to have to deal in straight power concepts. The less we are then hampered by idealistic slogans, the better”

The NeoCons are not intent upon “Winning the War”.

Their agenda is to “Destroy Countries”.

It is a profit-driven agenda: “Destruction” leads to “Reconstruction”. What is at stake is the engineered economic and social destruction of sovereign nation states. The creditors are there to “pick up the pieces” and “appropriate real wealth”. 

The second part of this article will focus on the NeoCons’ agenda to “privatize countries” on behalf of the financial establishment. 

The privatization of Ukraine as an impoverished derelict Nation State has already commenced via the creation of the Ukraine Reconstruction Bank (URB) by BlackRock and JPMorgan. 

The Danger of Nuclear War 

The use of nuclear weapons is on the drawing board of the Pentagon. It has the support of the U.S State Department. 

Meanwhile legislation is being put forward in the U.S. Congress to initiate World War III. 

“Senators Lindsey Graham (R-SC) and Richard Blumenthal (D-CT) introduced on June 22nd a Resolution which if passed and signed by President Biden, … would commit the U.S. as the head of NATO to launch, on behalf of NATO, war directly against Russia (See Eric Zuesse, Duran, June 20, 2023)
  click lower right corner for full screen

The NeoCon Agenda:
The Project for the New American Century 

The NeoCons are firmly behind the Ukraine agenda. 

The Project for the New American Century (PNAC) dominates US foreign policy on behalf of powerful financial interests. 

The PNAC dispels the planning of “consecutive” military operations: it describes:

America’s “Long War” as follows: 

“fight and decisively win multiple, simultaneous major theater wars”

The conduct of  “Simultaneous theater Wars” is the backbone of America’s hegemonic Agenda.

It’s a project of global warfare. The PNAC controlled by the NeoCons also dispels the holding of real peace negotiations. 

The Nuclear Agenda and Global Warfare

The PNAC was published at the height of the presidential election campaign in September 2000, barely 2 months prior to the November 2001 elections.  It has become the backbone of US foreign policy. It is the basis for the carrying out a hegemonic global warfare agenda, coupled with the imposition of a “Unipolar World Order”. 

Victoria Nuland who sits in the State Department, currently advising President Biden is the spouse of  PNAC’s Robert Kagan.

Why Does the Biden administration require a $1.3 trillion nuclear weapons program which is slated to increase to $2.0 trillion in 2030?

Superiority in Nuclear War is the backbone of the NeoCon agenda as expounded in the PNAC.

The objective is to “Maintain Nuclear Superiority”, specifically in relation to the US-Russia balance.


The Post War Era 

The US has conducted numerous wars since the end of what is euphemistically called the post war era:

Korea, Vietnam, Cambodia, Laos, Afghanistan, Yugoslavia, Iraq, Libya, Syria, Yemen… and now Ukraine. 

The unspoken objective is not to “win the war” but to engineer the destruction of entire countries, create political and social chaos, with a view to ultimately “picking up the pieces” and taking control of the national economies of sovereign nation states.

This agenda is also conducted through “regime change”, “color revolutions” and the concurrent demise and criminalization of the state apparatus coupled with “strong economic medicine” and the imposition of a soaring dollar denominated debt.

That is what happened in Vietnam. The Destruction of an entire country which was then “privatized” in the early 1990s: 

“Vietnam never received war reparations payments from the U.S. for the massive loss of life and destruction, yet an agreement reached in Paris in 1993 required Hanoi to recognize the debts of the defunct Saigon regime of General Thieu. This agreement is in many regards tantamount to obliging Vietnam to compensate Washington for the costs of war.”

And now what is ongoing in Ukraine is the outright privatization of an entire country. 

The Privatization of Ukraine

BlackRock, which is the World’s largest portfolio investment company together with JPMorgan have  come to the rescue of Ukraine. They are slated to set up the Ukraine Reconstruction Bank.

The stated objective is “to attract billions of dollars in private investment to assist rebuilding projects in a war-torn country”. (FT, June 19, 2023)

“… BlackRock, JP Morgan and private investors, aim to profit from the country’s reconstruction along with 400 global companies, including Citi, Sanofi and Philips. … JP Morgan’s Stefan Weiler sees a “tremendous opportunity” for private investors. (Colin Todhunter, Global Research June 28, 2023)

The Kiev Neo-Nazi regime is a partner in this endeavour. War is Good for Business. The greater the destruction, the greater the stranglehold on Ukraine by “private investors”:

“BlackRock and JPMorgan Chase are helping the Ukrainian government set up a reconstruction bank to steer public seed capital into rebuilding projects that can attract hundreds of billions of dollars in private investment.” (FT, op cit)

The Privatization of Ukraine was launched in November 2022 in liaison  with BlackRock’s  consulting company  McKinsey, a public relations firm which has largely been responsible for co-opting corrupt politicians and officials Worldwide not to mention scientists and intellectuals on behalf of powerful financial interests. 

“The Kyiv government engaged BlackRock’s consulting arm in November to determine how best to attract that kind of capital, and then added JPMorgan in February. Ukraine president Volodymyr Zelenskyy announced last month that the country was working with the two financial groups and consultants at McKinsey.

BlackRock and Ukraine’s Ministry of Economy signed a Memorandum of Understanding in November 2023.

In late December 2022, president Zelensky and BlackRock’s CEO Larry Fink agreed on an investment strategy.

Ukraine Reconstruction: The London Conference Venue

Careful Timing (See Timeline Below). The Prigozhin-Wagner “Failed Coup” (June 23-24) was initiated on the day following the Ukraine Reconstruction Conference in London hosted by the Kiev Regime and His Majesty’s Government on June 21-22, 2023. Is it a coincidence?

“The Ukraine Development Fund remains in the planning stages and is not expected to fully launch until the end of hostilities with Russia. But investors will have a preview this week at a London conference co-hosted by the British and Ukrainian governments.

The World Bank estimated in March that Ukraine would need $411bn to rebuild after the war, and recent Russian attacks have driven that figure higher.

No formal fundraising target has been set but people familiar with the discussions say the fund is seeking to raise low-cost capital from governments, donors and international financial institutions and leverage it to attract between five and 10 times as much private investment.

BlackRock and JPMorgan are donating their services, although the work will give them an early look at possible investments in the country. The assignment also deepens JPMorgan’s relationship with a longstanding client.

What Ukraine needed, BlackRock advised, was a development finance bank to find investment opportunities in sectors such as infrastructure, climate and agriculture and make them attractive to pension funds and other long-term investors and lenders. JPMorgan was brought in partly for its debt expertise.

… most investors want to wait for the end of hostilities. “The important part is that Ukraine is already thinking ahead,” Weiler said. “When the war is over, they’re going to want to be ready and start the rebuilding process immediately.” (FT, 19 June, 2023, emphasis added)

King Charles V hosted a reception at St James’s Palace on the eve of the Ukraine Recovery Conference. See below.

The King hosts a reception at St James's Palace
The King hosts a reception at St James's Palace

Guests included the Prime Minister of Ukraine, Mr. Denys Shmyhal; President of European Commission, Dr. Ursula Von der Leyen and His Majesty’s Ambassador to Ukraine, Dame Melinda Simmons, who presented. Ukrainian civil society leaders. These leaders included Mr. Masi Nayyem [involved in the Neo-Nazi sponsored 2014 EuroMaidan], a decorated Ukrainian veteran and lawyer who received shrapnel wounds to the head on a combat mission during the invasion and now campaigns for veterans rights and support.

The Ukraine Privatization Chronology 

November 2022. Contract with BlackRock and McKinsey, Ukraine Ministry of Economy

December 2022. Agreement between BlackRock CEO Larry Fink and President Zelensky

February 2023. JPMorgan Joins the BlackRock Reconstruction Bank Project

June 18, 2023. Africa Peace Initiative in Saint Petersburg, Statement by President Putin with regard the foiled peace negotiations of March 2022.

June 21-22, 2023. London conference pertaining to Ukraine Reconstruction Bank co-hosted by the British and Ukrainian governments.

June 23-24, 2023. The Prigozhin Wagner “Rebellion”

Concluding Remarks

All the major financial and political actors were in attendance at the Ukraine Reconstruction Conference in London. 

Ukraine is in the stranglehold of Big Money. BlackRock and JPMorgan.

Destruction is the Driving Force behind “Reconstruction”. 

Peace as well as “Cease Fires” are not “Good for Business”.

“Ukraine’s people desperately need a future based on welfare and peace, but in reality Ukraine is being driven towards the kind of huge indebtedness that leads to subservience and dominance.” (Bharat Dogra, Global Research, June 28, 2023)

The outcome is mass poverty and social devastation of an entire country, under the guise of “reconstruction”. 

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