Business · country

Steve Schwarzman on Ukraine

Divestment and geopolitical focus (moderate)

TL;DR

Steve Schwarzman has focused on divesting from Russia following the conflict and engages with Ukrainian leadership regarding global economic shifts.

Key Points

Blackstone committed to pulling out of its Russian operations following the tensions and invasion related to Ukraine, announcing the decision in March 2022.
He has met with the Ukrainian President at international economic forums, such as Davos, to discuss global financial matters.
The dollar's weakness following the start of the war in Ukraine was noted as contributing to increased interest in other currencies by investors seeking diversification.

Summary

Steve Schwarzman, chairman and CEO of Blackstone, took decisive action regarding Russia following the conflict in Ukraine by committing to pull out of the country. His firm announced the decision to exit its Russian operations in March 2022, aligning with a broader divestment from the region following the escalation of tensions and the invasion. This move demonstrated a clear response to the geopolitical crisis affecting the region.

He has also engaged directly with Ukrainian leadership, meeting with the Ukrainian President at global forums to discuss economic matters in the context of the ongoing war. While the focus for his firm has often centered on broader geopolitical uncertainty benefiting European investment elsewhere, his direct interaction and Blackstone's immediate divestment from Russia underscore a position taken in response to the situation.

Key Quotes

“This has created the prospect for change in Europe, which has mostly not been in change mode for a very long time,”

Private Equity International interview June 1, 2025

Frequently Asked Questions

What is Steve Schwarzman's position on the Russia-Ukraine conflict?

Steve Schwarzman's position was demonstrated by Blackstone's commitment to divest from and pull out of its Russian operations following the escalation of tensions in 2022. This was a direct corporate response to the conflict involving Ukraine. He has maintained engagement with Ukrainian leadership on economic matters since the war began.

Has Steve Schwarzman met with Ukrainian leadership?

Yes, the chairman and CEO of Blackstone has met with the Ukrainian President at major global economic gatherings, including Davos. These meetings centered on discussing the broader economic landscape and investment outlook in light of the geopolitical situation. He engages with high-level figures when discussing global uncertainty.

What was Blackstone's action regarding Russia after the Ukraine war?

Blackstone announced its plan to pull out of Russia shortly after the conflict escalated significantly. The firm stated its commitment to exiting its Russian operations in March 2022. This reflected a concrete step taken by the company in response to the geopolitical crisis in Ukraine's region.