Oligarch Profile: Petro Poroshenko

Meet the Oligarchs: Petro Poroshenko

By Jake Morphonios

March 7, 2022

Blackstone Intelligence

Billionaire Petro Poroshenko was the Western choice for president of Ukraine after the CIA-orchestrated coup of 2014 ousted democratically-elected Viktor Yanukovich from power. Poroshenko served as Ukraine’s 5th president from 2014 to 2019.

Joe Biden Shakes Hands with Petro Poroshenko

Previously, Poroshenko had served as the head of Ukraine’s Central Bank. He played a major role in funding the CIA-backed 2004 Orange Revolution. He later served as the Foreign Minister under President Yanukovich until 2010, when he was fired for pushing for Ukraine to gain NATO membership no later than 2011.

As president, Poroshenko advocated government policies of decentralization to allow foreign corporations easier access to Ukrainian resources. Poroshenko also signed the European Union-Ukraine Association Agreement to begin the process of integrating Ukraine into the European Union.

Poroshenko pushed nationalist policies, including delegitimizing Russian as one Ukraine’s official languages. He helped to split the Orthodox Church into its own Ukrainian faction, separate from the traditional Russian Orthodox Church. And, Poroshenko led Ukraine in its first phase of the war in Donbass.

Poroshenko owns Roshen Confectionary Corporation, which earned him the nickname “Chocolate King”. He also has significant holdings in agriculture, banking, manufacturing and mass media. He is currently ranked #6 on the list of richest Ukrainians with assets of $1.6 billion.

Poroshenko grew increasingly unpopular when the 1+1 television station owned by rival oligarch Igor Kolomoisky ran hit pieces exposing Porshenko’s offshore accounts that hid much of his wealth obtained from corrupt activities. Kolomoisky owned the television show Servant of the People, starring Volodymyr Zelensky, and he financed Zelensky’s successful presidential bid against Poroshenko in 2019.

Notably, 1+1 did not air stories about the hidden offshore accounts of Zelensky which were brimming with tens of millions of dollars in illegal loans from Kolomoisky himself. Kolomoisky is ranked as the #4 richest man in Ukraine, with known assets of $1.8 billion.

Petro Poroshenko was, and is, a powerful tool of the Western elite establishment in their efforts to gain control of Ukraine’s banking system, political system and national resources.


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