News / Europe

Profile: Petro Poroshenko, Ukraine's Presidential Candidate, ‘Chocolate King’

Ukraine's 'Chocolate King' Leads Presidential Preference Polli
X
Henry Ridgwell
April 08, 2014 9:22 PM
Petro Poroshenko, a self-made confectionery magnate worth an estimated $1.3 billion, has emerged as the frontrunner in opinion polls leading up to Ukraine's presidential elections scheduled for May. The surveys show the one-time foreign minister is well ahead of his main rival, former Prime Minister Yulia Tymoshenko. Henry Ridgwell profiles the man who has pledged to rescue Ukraine’s economy and face down Russia.
Henry Ridgwell
Ukraine's Petro Poroshenko, a self-made confectionery magnate worth an estimated $1.3 billion, has emerged as the front-runner in opinion polls leading up to Ukraine's presidential election scheduled for May. The surveys show the one-time foreign minister who has pledged to rescue Ukraine’s economy and face down Russia, well ahead of his main rival, former Prime Minister Yulia Tymoshenko.

Petro Poroshenko is known as the ‘Chocolate King’ in Ukraine, having built a fortune on confectionery. But he is no stranger to politics.

He was a regular speaker at Kyiv’s Independence Square at the height of the recent protests, denouncing corruption and calling for membership in the European Union. Orysia Lutsevych is at the London-based policy institute Chatham House.

“He became so popular during the recent protests because he was giving some kind of confidence in terms of his direct action, and also because he was not affiliated with the existing political parties,” said Lutsevych.

Poroshenko has received the backing of opposition leader and former boxer Vitaly Klitschko. In a recent interview, Poroshenko said he would build on Ukraine’s revolution.

“It was born, the new country," he said. "It was born the new people. But unfortunately it left old politicians and I tried to do my best that the politicians, the government, the authorities and the president be adequate to the new people from the revolution.”

Poroshenko played a big role in the Orange Revolution in 2004 alongside his now rival Yulia Tymoshenko - becoming foreign minister under the then President Viktor Yushchenko. He built his fortune on the back of his giant chocolate company,  Roshen, alongside media and manufacturing interests. Observers say he is cultivating an image as a safe pair of hands.

“You can come here in a very safe, in a very nice country with a very experienced labor with a very effective cheap cost for creation of businesses and the only obstacle for doing that is the corruption," said Poroshenko. "That's why this is the top priority for the modernization.”

His status as a self-made billionaire sets him apart from Ukraine’s other business elites - who are often seen as corrupt, says Orysia Lutsevych of Chatham House.

“He has good understanding of the way international financial markets are working, and he is on a good term basis with a lot of Western politicians," said Lutsevych. "But also, he is somebody who understands Russia because he is doing a lot of his business with the confectionery and sugars in Russia.”

But Poroshenko’s relations with the Kremlin are poor, says Russia specialist Andrew Foxall of analyst group the Henry Jackson Society.

“His Roshen confectionery business was subject to trade sanctions and embargoes by the Russian government. The business lost an awful lot of money," he said. "He lost an awful lot of money. More recently, Poroshenko’s assets in Russia have been targeted.”

Petro Poroshenko has said he will never accept Russia’s forceful annexation of Crimea. Russia has deployed tens of thousands of troops along the Ukrainian border.

Whoever wins the May 25 election, victory will mark just the beginning of the daunting challenges that face Ukraine’s next leader

You May Like

Americans Celebrate Thanksgiving

Feasts centering on turkeys with an array of traditional sides and desserts are part of the holiday's traditions, which falls on the fourth Thursday in November More

Video For Obama, Ferguson Violence is a Personal Issue

With two years left in term, analysts say, president has less to lose by taking conversation on race further More

Video Italian Espresso Expands Into Space

When Italian astronaut Samantha Cristoforetti headed for the ISS, her countrymen worried how she would survive six months drinking only instant coffee More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
US Community Kicks Off Thanksgiving With Paradei
X
Anush Avetisyan
November 26, 2014 10:57 PM
Thursday is Thanksgiving in the United States, a holiday whose roots go back to the country's earliest days as a British colony. One way Americans celebrate the occasion is with parades. Anush Avetisyan takes us to one such event on the day before Thanksgiving near Washington, where a community's diversity is on display. Joy Wagner narrates
Video

Video US Community Kicks Off Thanksgiving With Parade

Thursday is Thanksgiving in the United States, a holiday whose roots go back to the country's earliest days as a British colony. One way Americans celebrate the occasion is with parades. Anush Avetisyan takes us to one such event on the day before Thanksgiving near Washington, where a community's diversity is on display. Joy Wagner narrates
Video

Video For Obama, Ferguson Violence is a Personal Issue

Throughout the crisis in Ferguson, Missouri, President Barack Obama has urged calm, restraint and respect for the rule of law. But the events in Ferguson have prompted him to call — more openly than he has before — for profound changes to end the racism and distrust that he believes still exists between whites and blacks in the United States. VOA White House correspondent Luis Ramirez reports.
Video

Video Online Magazine Gets Kids Discussing Big Questions

Teen culture in America is often criticized for being superficial. But an online magazine has been encouraging some teenagers to explore deeper issues, and rewarding their efforts. VOA religion reporter Jerome Socolovsky went to this year’s Kidspirit awards ceremony in New York.
Video

Video Aung San Suu Kyi: Myanmar Opposition to Keep Pushing for Constitutional Change

Myanmar opposition leader Aung San Suu Kyi says she and her supporters will continue pushing to amend a constitutional clause that bars her from running for president next year. VOA's Than Lwin Htun reports from the capital Naypyitaw in this report narrated by Colin Lovett.
Video

Video Mali Attempts to Shut Down Ebola Transmission Chain

Senegal and Nigeria were able to stop small Ebola outbreaks by closely monitoring those who had contact with the sick person and quickly isolating anyone with symptoms. Mali is now scrambling to do the same. VOA’s Anne Look reports from Mali on what the country is doing to shut down the chain of transmission.
Video

Video Ukraine Marks Anniversary of Deadly 1930s Famine

During a commemoration for millions who died of starvation in Ukraine in the early 1930s, President Petro Poroshenko lashed out at Soviet-era totalitarianism for causing the deaths and accused today’s Russian-backed rebels in the east of using similar tactics. VOA’s Daniel Shearf reports from Kyiv.
Video

Video Hong Kong Protests at a Crossroads

New public opinion polls in Hong Kong indicate declining support for pro-democracy demonstrations after weeks of street protests. VOA’s Bill Ide in Guangzhou and Pros Laput in Hong Kong spoke with protesters and observers about whether demonstrators have been too aggressive in pushing for change.
Video

Video US Immigration Relief Imminent for Mixed-Status Families

Tens of thousands of undocumented immigrants in the Washington, D.C., area may benefit from a controversial presidential order announced this week. It's not a path to citizenship, as some activists hoped. But it will allow more immigrants who arrived as children or who have citizen children, to avoid deportation and work legally. VOA's Victoria Macchi talks with one young man who benefited from an earlier presidential order, and whose parents may now benefit after years of living in fear.
Video

Video New Skateboard Defies Gravity

A futuristic dream only a couple of decades ago, the hoverboard – a skateboard that floats above the ground - has finally been made possible. While still not ready for mass production, it promises to become a cool mode of transport... at least over some surfaces. VOA’s George Putic reports.
Video

Video Falling Gas Prices Impact US Oil Extraction

With the price of oil now less than $80 a barrel, motorists throughout the United States are benefiting from gas prices below $3 a gallon. But as VOA’s Kane Farabaugh reports, the decreasing price of petroleum has a downside for the hydraulic fracturing industry in the United States.
Video

Video Tensions Build on Korean Peninsula Amid Military Drills

It has been another tense week on the Korean peninsula as Pyongyang threatened to again test nuclear weapons while the U.S. and South Korean forces held joint military exercises in a show of force. VOA’s Brian Padden reports from the Kunsan Air Base in South Korea.
Video

Video Mama Sarah Obama Honored at UN Women’s Entrepreneurship Day

President Barack Obama's step-grandmother is in the United States to raise money to build a $12 million school and hospital center in Kogelo, Kenya, the birthplace of the president's father, Barack Obama, Sr. She was honored for her decades of work to aid poor Kenyans at a Women's Entrepreneurship Day at the United Nations.
Video

Video Ebola Economic Toll Stirs W. Africa Food Security Concerns

The World Bank said Wednesday that it expects the economic impact of the Ebola outbreak on the sub-Saharan economy to cost somewhere betweenf $3 billion to $4 billion - well below a previously-outlined worst-case scenario of $32 billion. Some economists, however, paint a gloomier picture - warning that the disruption to regional markets and trading is considerable. Henry Ridgwell reports from London.
Video

Video Chaos, Abuse Defy Solution in Libya

The political and security crisis in Libya is deepening, with competing governments and, according to Amnesty International, widespread human rights violations committed with impunity. VOA’s Al Pessin reports from London.
Video

Video US Hosts Record 866,000 Foreign Students

Close to 900,000 international students are studying at American universities and colleges, more than ever before. About half of them come from Asia, mostly China. The United States hosts more foreign students than any other country in the world, and its foreign student population is steadily growing. Zlatica Hoke reports.

All About America

AppleAndroid