Rule By Oligarchs: Kiev Appoints Billionaires To Govern East – 3 March 2014

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The self-proclaimed government in Kiev has appointed two of Ukraine’s richest men to govern large industrial regions in the defiant east. One of the reasons for the Maidan protest was the influence the rich have on politics in the country.

The appointments of new governors of Donetsk and Dnepropetrovsk Regions are among 18 made on Sunday by Kiev, which is struggling to consolidate power after the coup which ousted President Yanukovich last month.

The newly-appointed Dnepropetrovsk governor is Igor Kolomoysky, Ukraine’s third-wealthiest man, with an estimated fortune of $2.4 billion. He co-owns the informal commercial group Privat, which includes Ukraine’s largest bank Privatbank, which Kolomoysky heads, as well as assets in the oil, ferroalloys and food industries, agriculture and transport.

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