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Petro Poroshenko: Is the Chocolate King Fit to Run Ukraine?

Petro Poroshenko

With the shooting of the Kharkiv Mayor, Gennady Kernes, and a fresh round of sanctions enforced on Russian officials, instability and violence continues to plague Ukraine’s future economic and security prospects. In the hope of true change, all eyes have turned to billionaire presidential candidate Petro Poroshenko to save the day. Currently leading in the polls with 48 percent, the ‘Chocolate King’, a nickname he obtained from his confectionary empire Roshen, along with his reformist pro-Western stance, appear best placed to win the May 25 presidential elections. Poroshenko has certainly proven himself committed to change in Ukraine, with many going as far as to label him “the CEO of the revolution”. But before we hail him as the leader of the new Ukraine, we need to ask ourselves, who is Poroshenko and is he fit to lead crisis-ridden Ukraine out of Russia’s grip?

A self-made man

Born near Odessa, southwest Ukraine, Poroshenko started his career as one of Ukraine’s very first business consultants after completing his degree in economics. When the hectic 1990s came around, Poroshenko was able to get his hands on several state owned confectionary companies, which he then transformed into his very own chocolate empire, dubbing him Ukraine’s‘Willy Wonka’. On top of his lucrative chocolate empire he owns the Ukrainian Channel 5 opposition media station, several car plants and a shipyard, amassing a total net worth of $1.3 billion, making him the 7th richest man in Ukraine.

Besides his many business dealings and oligarch status, Poroshenko is no newbie to the political sphere. Having held multiple governmental positions, he has always appeared unable to associate with just one political party, which according to journalist Andriy Skumin is the norm for members of the modern Ukrainian ‘party in power’, where “ideology is secondary; power always comes first”.

Power over ideology?

When first elected to public office in 1998 as a representative to the Verkhovna Rada, the Ukrainian parliament, Poroshenko joined the Social Democratic Party. Soon after, in 2000, he formed his own “Party of Solidarity of Ukraine”. This romance was short-lived as he went on to co-found the Party of Regions – yes, the party of ousted President Yanukovych. In 2002, Poroshenko ditched his own Party of Regions, this time for the “Our Ukraine” party of Viktor Yushchenko. After the latter became President, he served as the head of the National Security and Defense Council, and then as foreign minister in Tymoshenko’s government from 2009 to 2010.

Despite his strong criticisms of Mr.Yanukovych, Poroshenko accepted his offer to serve as trade and economic development minister in 2012. His constantly shifting support gives weight to the theory that in post-Soviet Ukrainian politics, ideology and platform appear to matter a whole lot less than power. Poroshenko is currently not affiliated with any political movement, and his former Orange Revolution partner, Yulia Tymoshenko of the Fatherland Party, is now his bitter enemy and rival candidate.

The Ultimate Triad – Reformist, anti-corruption, pro-West

One of the central elements of Poroshenko’s campaign has been a promise to lead Ukraine down the path of modernization, undergo painful but necessary reforms (including an end to state gas subsidies), and finally guide Ukraine to economic stability. Well aware that IMF reforms and conditionalities will be largely unpopular with the population, he has promised that Ukraine’s rich will be the ones footing most of the bill, not the poor. Whether these promises become a reality if elected remains to be seen, considering his close ties with controversial oligarchs such as Dmytro Firtash, a gas middleman involved in a fair share of dodgy dealings.

This brings us to his next main issue: the grave problem of Ukraine’s endemic corruption. The Maidan protests were sparked largely as a result of Ukrainian citizens’ anger with the greedy and corrupt elite, blamed for failing to provide the country with prosperity and jobs. Given his status as one of Ukraine’s wealthiest men, he certainly appears to be in a good position to keep the oligarchs in check and tackle rampant corruption. At the same time, it remains to be seen how he will balance this agenda with the protection of his own business interests, both in Russia and Europe.

Despite advocating a pro-West stance and the need to sign the original EU association agreement, thrown in the bin by Yanukovich, Poroshenko has been hesitant to fully distance himself from the Kremlin, openly declaring that “without dialogue with Russia, it will be impossible to create security”. Poroshenko also has an interest in ensuring that Ukrainian goods will continue to enjoy a place on the Russian market. It seems implausible that the Chocolate King, even with all his financial stability, will be able to avoid paying lip service to Putin. After all, 40 percent of his business takes place in Russia and last year’s ban on his chocolate goods, most likely politically motivated, have dealt quite a blow to his business.

Poroshenko is far from naïve, and he would be wise to tread carefully around the grizzly bear, knowing that a strained relationship with the Kremlin will likely lead to a sour situation not just for his business, but also many others with close ties to Russia. A wrong move on his part might end up hurting the Ukrainian economy rather than repairing it.

Close ties with the gas tycoon Firtash

While it is true that the Chocolate King has positioned himself at the forefront of Ukraine’s battle with corruption, his own close relationship with billionaire gas tycoon Dmytro Firtash, certainly raises serious questions about his commitment to the cause. Firtash made his billions as a natural gas trader through his joint venture RosUrkEnergo (RUE) with Gazprom, which has also been closely linked to FBI-wanted mobster Semion Mogilevich. Firtash himself has failed to deny his links with organized crime individuals, claiming that without them he could not have built his empire.

Firtash, who is said to be worth anywhere between $500 million to $10 billion, has been the subject of a more recent scandal and “victim” to the crackdown on Russian and Ukrainian oligarchs. A known Yanukovych supporter, Firtash fled to Vienna after the ex-President’s ousting, where he is currently facing extradition to the United States on charges of corruption. Despite trying to distance himself from Firtash and his kind in order to ensure that his anti-corruption campaign remains legitimate, it did not take long for news to surface that both Klitschko and Poroshenko paid a visit to Firtash in Vienna, sparking rumors that Poroshenko may be trying to save the latter from extradition.

This upward chain of dodgy links surrounding Poroshenko’s relationship with Firtash hardly bodes well for his ‘reformist’ reputation.

Walk the walk, don’t talk the talk

Ukraine’s Chocolate King certainly has a strong support base in Ukraine and his campaign has won over the many Ukrainian citizens fed up with the old elite regime. In a show of unity, Vitaly Klitschko, the heavyweight boxing championship, withdrew his candidacy to throw his full support behind Poroshenko. But current support does not imply Poroshenko can or will pursue the agenda he is so strongly advocating for, and chances are his oligarchic ties, business interests, and Moscow calculations will hamper his ability to lead as a reformer.

What is certain is that Ukraine needs to find a middle ground between Russia and the EU, before it gets torn apart from the outside and from within. Will Poroshenko manage to guarantee the country’s solidarity and its strategic positioning in Europe? After all, it’s much more simple to talk the talk than it is to walk the walk.


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About the Author

Polina Popova

Polina Popova is a Russian-English speaking aspiring writer and journalist living in London with a particular interest in Eastern European politics, society and public corruption. She is currently undertaking research for her book on Post-Soviet Russia and the rise of Putin. 
  • Lev Havryliv

    Is it time to designate Russia a state sponsor of terrorism?

    Russian special forces are conducting a campaign of terror in southeast Ukraine.

    This a war by proxy against Ukraine.

  • Полина

    Ukraine need solidarity at this hard time for us. Poroshenko looks much better then other candidats and propose most comprehensive plan for Ukraine. May be Author can propose better candidat for Ukraine – for example, Timoshenko? So, we will have much more points for discussion :(

  • Sundra Tanakoh

    As always, voting is difficult. One has the choice to vote for the lesser of the evils. Timoshenko had her run and was one of the people responsible for voter apathy, after all, we were tired of her and it was the same old corrupt governemnt as before and the same after under Yanukovich. So, now we have Poroshenko, not the best, but the best of the lot the lesser of the evils. It is important for Ukrainians to note that politicians make promises they can’t always keep, it is important to note that not everyone will be happy (no matter who is elected), it is important to note that maybe Poroshenko is a step in the right direction and hopefully will influence better people in the future to take up politics. Freedom is a long road, it is not easy nor is it cheap. Freedom requires the people to keep the government in check, not the other way around. We need to move forward.

  • Andrew Chrucky

    Vote for Olha Bohomolets.

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