Ukrainian President Petro Poroshenko welcomes World War Two veterans during a session of the parliament in Kiev, Ukraine May 8, 2015. REUTERS/Valentyn Ogirenko
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At the November 2013 World Economic Forum in Kiev's Intercontinental Hotel, billionaire Petro Poroshenko predicted a European Union trade pact would kick-start Ukraine's economy and enrich his Roshen Confectionery Corp. by dramatically increasing EU-bound chocolate exports. Eighteen months later, Poroshenko – now Ukraine's president – has seen his wealth head in the other direction.Roshen's output, which topped 400,000 tons in 2012, lost 25 percent over the next two years after its products were banned in its most important export market, Russia, and its factory there was seized by the government.While campaigning for president last year, Poroshenko promised to sell Roshen, but he hasn't been able to find a buyer.Only Poroshenko is president, and he's had to make decisions that hurt his business.CEO Moskalevsky insists he's more interested in continuing to build Roshen than in selling it.Poroshenko has sought to sell the Russian factory, but his efforts have been blocked by authorities there, said Mikheil Saakashvili, the former president of Georgia, who lives in Kiev and serves as an adviser to Poroshenko.
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