Billionaire backer of Zelenskiy advocates Ukrainian debt default

RUSSIA / FSU POLITICS - In Brief 26 May 2019 by Alex Teddy
Ihor Kolomoisky is the financial backer of the Ukrainian President. Kolomoisky gave an interview to the Financial Times. He advocated Ukraine defaulting on foreign debt - akin to Argentina.He also says he wants PrivatBank back - which he used to own. Kolomoisky divides his time between Israel and Switzerland: he is a citizen of both. He said that nationalization of PrivatBank caused 500 lawsuits. The oligarch and his business partner Gennady Bugoliubov have had assets of USD 2.5 billion frozen by a London court.There are allegations in the US that Kolomoisky used his bank to launder funds. A Ukrainian court ruled that the nationalization of PrivatBank was illegal. So Kolomoisky might get it back.What is Zelenskiy going to do? He has been distancing himself from Kolomoisky. He does not want to be seen as the puppet of a man who is regarded by man as a kleptocrat. But Zelenskiy appointed Andrei Bohdan as head of his presidential administration. Bohdan is Kolomoisky's lawyer. If Zelenskiy does not help his backer then Kolomoisky may have some embarrassing information on him.

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