BlackRock and PIF's joint strategy includes strengthening capital markets in Riyadh and managing autocratic axis influence

On April 30, BlackRock and the Public Investment Fund of Saudi Arabia (PIF) signed an agreement under which BlackRock will create an investment platform in Riyadh, and PIF will invest $5 billion in this platform.

The parties also agreed to establish a local company, BRIM, to implement the investment strategies of American company BlackRock.

Creating an investment platform by the flagship of American big business focused on the White House's geo-economic vision indicates Washington's strategy to access the autocratic axis countries' investments in Saudi Arabia.

In recent years, due to the closure of access to investment for the elites of autocratic countries in the Free World, Saudi Arabia, like the UAE, has become an attractive place for investment from China, Russia, Belarus, and Latin America.