Ukraine, a nation reeling from the devastating effects of war, has been further victimized by the collusion between local oligarchs and global financial capital. This alliance, which gained momentum in 2014, has resulted in the destruction of towns, cities, and surrounding lands that have stood for centuries.
By examining the role of pro-Western governments, international financial institutions, and the actions of President Zelensky, we can better understand the profound damage inflicted upon Ukraine and its working-class citizens.
Structural Adjustment and Privatization Programs:
In the aftermath of the war in 2014, Ukraine's pro-Western government welcomed extensive structural adjustment and privatization programs facilitated by institutions such as the European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF), and the World Bank. These programs aimed to align the country's economy with Western standards but had severe consequences for the Ukrainian population.
Concentration of Power and Land Sales:
President Zelensky capitalized on the ongoing war to consolidate power and accelerate the sale of state-owned assets. Opposition parties, which opposed unpopular reforms restricting the sale of land to foreign investors, were banned, stifling democratic processes. As a result, over 3 million hectares of agricultural land in Ukraine are now owned by companies based in Western tax havens, depriving working-class people of their livelihoods and exacerbating wealth inequality.
Exploitation of Mineral Resources:
Ukraine's mineral deposits, estimated to be worth over $12 trillion, have become a target for Western companies. The allure of these resources has led to a predatory interest in extracting and profiting from Ukraine's natural wealth. However, the exploitation of these resources has come at a great cost to the environment, local communities, and the country's economic sovereignty.
Impact on the Working Class:
The working-class people of Ukraine have borne the brunt of the devastating consequences of these actions. Displacement, loss of livelihoods, and economic instability have become harsh realities for many. As local industries and businesses crumble under the weight of privatization, workers face unemployment, low wages, and precarious working conditions.
Urgent Need for Change:
The damage inflicted on Ukraine highlights the urgent need for a reevaluation of policies that prioritize the interests of oligarchs and global financial capital over the well-being of the Ukrainian people. Genuine reforms that promote transparency, accountability, and equitable wealth distribution are essential to rebuilding the nation and empowering its working class.
Above All:
The devastation witnessed in Ukraine cannot be attributed solely to the ravages of war. The collusion between local oligarchs and global financial capital, facilitated by pro-Western governments and international financial institutions, has played a significant role in exacerbating the country's woes. It is imperative for Ukraine to reclaim its sovereignty, address wealth inequality, and prioritize the needs of its working-class citizens. Only through comprehensive reforms can Ukraine begin to heal and rebuild a more equitable and prosperous future for all its people.
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