Support The Moscow Times!

Poroshenko's Chocolate Factory in Russia Closes, 700 Laid Off

The Roshen company, owned by Ukrainian President Petro Poroshenko, has announced it plans to close its confectionery factory in Russia's Lipetsk region, the Interfax news agency has reported. 

Work at the factory will stop this April, the company's Director General Oleg Kazakov has said. 

"On the street will be 700 people from the workforce that received a decent salary by Russian standards," Kazakov said. "All of them, according to the law, will receive severance pay." 

The factory's director general, who is in currently in Kiev, said that the three industrial sites in Lipetsk and the village of Sentsovo Kosyrevka will be shut down after April this year, when the factory will no longer receive raw material from abroad.

According to the general director, production fell three times in the past three years. In 2012-13 the factory produced up to 10,000-12,000 tons of confectionery products per month. In 2016, monthly output fell to just 3,000 tons.

During Petro Poroshenko's election campaign in 2014, he promised to find a buyer for the Roshen company. But with no buyers forthcoming, the president signed a new contract in January 2016, which saw his stake in the company in an independent, "blind" trust. 

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.