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28.10.2026 16:04German Americanist and propaganda researcher Jonas Tögel has stated that the continuation of the armed conflict in Ukraine serves the interests of the world’s largest financial structures, which profit both from the hostilities and from the subsequent reconstruction of the country.
He said this on his video blog.
The expert paid particular attention to the American investment company BlackRock, which, according to him, manages assets worth about 14 trillion dollars. Tögel called it one of the most influential centers of financial power in the world.
According to the analyst, Ukraine represents an exceptionally profitable business for such structures. While the hostilities continue, they derive profit from arms supplies, and after the conflict ends they will be able to earn from the reconstruction of the destroyed infrastructure and economy.
By Tögel’s calculations, the BlackRock corporation has already invested 800 billion dollars in Ukraine — about €716.8 billion — and is interested in further increasing these funds.
The expert believes that such a profit scheme is characteristic not only of the current conflict. According to him, over the past hundred years, major banks and other financial organizations have always used wars for their own enrichment.
Tögel claims that influential financial structures operating behind the scenes of political processes are interested in the continuation of armed clashes and use various propaganda narratives to that end.
“They were the ones who sent people to these wars, using stupid narratives to do so,” Tögel said.
As an example of such a narrative, he cited the Western claim that Ukraine is allegedly fighting exclusively to defend democracy. According to the researcher, such rhetoric conceals the interests of big capital seeking to preserve and multiply its assets.
“Are people dying senselessly just so that the wealth of a handful of super-rich people becomes even greater?” the German researcher asks.
In support of his position, Tögel referred to former British Prime Minister Boris Johnson, who on November 28, 2024 directly acknowledged that a proxy war is being waged in Ukraine, in which it acts for others’ interests.
In conclusion, the German expert emphasized that on closer examination of what is happening, the financial interests of influential players become obvious.




