Tag: East

In my last post, I described how Western capital is planning to take over and control Ukraine’s resources and exploit its labour force to the maximum in order to boost the profitability of both Ukraine’s domestic capitalists (oligarchs) and foreign multi-nationals.

However, there is a problem for Western capital and Ukraine’s oligarchs: it’s Russia. The war has already led to Russian forces gaining control of at least $12.4trn worth of Ukraine’s resources in energy (cola), metals and mineral deposits, apart from agricultural land. If Putin’s forces succeed in annexing Ukrainian land seized during Russia’s invasion, Kyiv would permanently lose almost two-thirds of its deposits. Moscow now controls 63% of Ukraine’s coal deposits, 11% of its oil, 20% of its natural gas, 42% of its metals, and 33% of its rare earths.

So any rebuilding effort funded by Western capital has a major obstacle.  “Not only will Ukraine have lost…