Ihor Petrashko, a top manager at agroholding UkrLandFarming, has become Ukraine’s economy minister.
During a March 17 emergency session of the Ukrainian parliament, 243 lawmakers have approved the appointment. Petrashko predominantly received support from the president’s Servant of the People party, which provided 217 votes in favor of his appointment.
UkrLandFarming, where Petrashko has been a top executive for roughly seven years, is an agriculture firm owned by tycoon Oleg Bakhmatyuk. Bakhmatyuk owes the state $1 billion, according to the National Bank, and is wanted in Ukraine on suspicion of bank fraud.
Petrashko succeeds Tymofiy Mylovanov, who was dismissed on March 4 when parliament fired the Cabinet of ex-Prime Minister Oleksiy Honcharuk.
When presenting Petrashko, Prime Minister Denys Shmygal told lawmakers that he is one of the most respected economists in Ukraine and has an extensive background in consulting, investment banking and agriculture.
“He received an MBA from an American university,” said Shmygal.
However, Petrashko’s main career achievement – prior to becoming a minister – was receiving the job of deputy head of UkrLandFarming’s subsidiaries tasked with attracting investments. He has worked in this capacity since 2013.
Prior to UkrLandFarming, Petrashko headed the corporate business department in Ukraine’s subsidiary of Sberbank, Russia’s state-owned bank. He led Sberbank’s corporate business in Ukraine from 2007 until 2012.
