Revealed the fate of the wealth of Petro Poroshenko

The ex-president of Ukraine withdrew assets worth a billion dollars from the court

The court in Kiev, which these days decides the fate of the fifth president of Ukraine, Petro Poroshenko, seized early in the year to his assets. During the presidency, Poroshenko has significantly increased his “economy”. However, since 2019, his official income began to fall. We remembered that the riches turned out to be “under arrest”.

Photo: AP

Petro Poroshenko's assets last year were valued by the Ukrainian branch of Forbes at $1.6 billion, which put the fifth president of Ukraine consistently in 3rd-4th place in the list of the local richest oligarchs. In 2021, Vadim Novinsky ousted Poroshenko from the top three. This year, according to the forecasts of MK sources, Petr Alekseevich will go down lower – the sweet corporation Roshen showed a rather small profit at the end of the year, which will certainly hit the indirect assessment of the value of the business. “But he definitely won’t come out of a billion dollars!” – a Ukrainian analyst interviewed by MK assures.

Why was Poroshenko so highly valued and why did the Ukrainian court arrest him so little? As you know, on January 6, the Pechersk Court of Kyiv arrested the ex-president's property for only $20-30 million at the request of the Ukrainian prosecutor's office.

The lion's share of the wealth of the ex-president of Ukraine is the Roshen company and the agricultural business. Approximately 50 firms to which various Roshen assets are registered are valued at $1.1 billion and re-registered to the eldest son of ex-president Alexei in the fall of 2019. The Poroshenko family also owns an agricultural corporation that leases 120,000 hectares of land from peasants – with such a land bank, it is about the 10th in the country, there is still no full-fledged private ownership of land in Ukraine, land shares of former collective farmers are leased by large agricultural holdings. Growing agricultural raw materials is also now the business of the eldest son, Oleksiy Poroshenko.

The arrest of Petro Poroshenko is one of the election promises of Ukrainian President Volodymyr Zelensky. At the famous stadium debate, the future sixth president simply shouted to the fifth: “I am your sentence!” – and the signal was heard. Pyotr Alekseevich began to prepare for the arrest immediately after the defeat.

What else? The famous Forge on Rybalsky, which built armored boats for the Ukrainian fleet in Kiev and was a tidbit of land within the capital, was sold in 2018 for three hundred million dollars to Sergey Tigipko. Poroshenko ceased to be the owner of the Bogdan automobile corporation back in 2013 – he sold his shares to his friend Oleg Svinarchuk, the same one who later became famous for the corruption scandal related to procurement in the Ukrainian defense sector in 2019.

Fatal for Poroshenko’s ratings, the factory of the Roshen company in Russian Lipetsk was stopped and mothballed in 2017 – people were fired, equipment has been partially exported to the territory of Ukraine all these years, and they could not sell the enterprise. It now generates debts and taxes to the Russian budget – real estate tax in the Russian Federation is also paid by mothballed enterprises.

What did the Pechersk court arrest? Poroshenko is now unable to sell a house in the village of Kozin on 1300 m2 and several apartments in Kiev. “Well, a trifle, these apartments, well, for a couple of million dollars,” commented a Ukrainian financial analyst interviewed by MK. A whole scattering of legal entities with property rights has also been arrested – the largest of them are the network of fitness centers “The Fifth Element” and the IIB (International Investment Bank). Observers estimate them at about five and ten million dollars.

Peter Poroshenko also had works of art under arrest – we are talking about 43 paintings in particular. Recall that all this goodness remains the property of the ex-president of Ukraine, he just cannot yet make any transactions with movable and immovable values.

The main assets are free, and the two national TV channels most needed in the current political fight have recently been solemnly handed over to the collectives of journalists. The Ukrainian State Bureau of Investigation (DBR) even made a statement about freedom of speech – they say that nothing threatens the work of Poroshenko-related channels!

So Petr Alekseevich will not have to live on bread and water, he has everything other “sweets” – good.

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