Boris Lozhkin Suspiciously Has Intensified before the Election

The people have never perceived the shift away from politics to social activity as something good and promising. Over the years, the citizens of Ukraine have developed a unique ability no to believe in miracles. Boris Lozhkin, one of the 30 the most powerful managers in the CIS, decided to change the game. He became a Head of the Presidential Administration in 2014 and smoothly escaped the “guarantor’s entourage” in two years.

Regardless of the current Boris Lozhkin’s personal status in the Government, his puppets continue to perform their duties. A former Head of the Presidential Administration was not going to disappear as well. Internet is full of articles that deal with Boris Lozhkin’s intense activity in various fields. First, it is referring to his advising businesspersons. Boris Lozhkin took part in the panel discussions of Kyiv International Economic Forum where he taught all comers “how and where to invest money”. Boris Lozhkin gives special attention to charity (according to Google). About $9M was invested in the center of children cardiology. Ex-politician is not going to forget about the spiritual side of human life – art. Boris Lozhkin attended Malevich exhibition and opened the first showing of the film “The Road to Babi Yar”. In addition, the ex-chief of AP took part in the process of renaming of the street around Ukraine. Why is he so active in the run-up to the election? What is he preparing to or what is he preparing us for? After the politician’s resignation in 2016, Victor Nebozhenko (a well-known political scientist) was of the view that it’s just the beginning of Boris Lozhkin’s policy-making journey.

According to Nebozhenko, the ex-chief of AP is an experienced and media-sophisticated personality. Lozhkin understood that he’s not able to make much money near the President. Time goes by quickly but the opportunities are the same. It’s hard to say what he's aiming for when pulling away from the powerful. However, the charity and social activity with a focus on promoting Jewish culture in Ukraine – it’s clearly not a threshold!

Boris Lozhkin: the Beginning

A young and ambitious Ukrainian started his career after graduating from the university. Then, he got the Privat bank’s support and credit at low interest rates. That was the start of the media holding UMG Group’s foundation. Then, he started his political career, became a local deputy, and engaged the bodies with some marquee value. Such famous persons as Dobkin, Feldman, and Kernes are among his new friends. Influential partners help him to buy up such media as “Kievskie Vedomosti”, “Melodia”, “Europe Plus”, “Radio 50”, etc. During this period, plenty of Russian newspapers and magazines were issued in Ukraine. However, their main success was the entry of Ukrainian versions of Forbes and Vogue. Boris Lozhkin has never been squeamish to make money in Russia. He even got gratitude from the Federation Council for “the strengthening of friendly relationships between Russia and Ukraine”. He also was awarded as the “Best Manager of Russia”.

Over the years, Boris Lozhkin has to hang on to both the largest media assets and so-called “friends”. Petro Poroshenko, Renat Ahmetov, and Ihor Surkis were also his investors and UMH Group partners.

Event of the Century

In summer 2013, Boris Lozhkin’s official statement that he would sell 98% of the UMH Group’s shares to the Eastern European Fuel-Energy Company rocked the whole world. Sergey Kurchenko, a well-known Ukrainian oligarch is that company’s owner. This bargain drew perplexed reactions from the world economic community. Boris Lozhkin cited for his action that Ukrainian politics has looked like a dictatorship and he cannot do business under such conditions. The total cost of a transaction amounted $315M.

Ihor Mazepa, a Head of the Concord Capital investment fund and Boris Lozhkin’s old friend facilitated that bargain. Mazepa made his entire fortune in the 90s and was a member of the UkrEximBank’s Supervisory Board at the time of the transaction. He facilitated a credit of $160M for Kurchenko to let him buy the UMH Group.

Good Ties are Better than Money

Being a Head of the AP, Boris Lozhkin managed to place his people on the key positions in the Government. In addition to Mazepa, he kept to himself another “decent” Concord Capital’s manager Roman Ivanyuk. A restaurateur Ihor Beilin is one more his comrade and, according to Lozhkin, he would be a great Minister of Agricultural Policy. It’s a very generous gift, isn’t it?

So, Boris Lozhkin is indispensable for the Ukrainian politics as he always saves his neck and he never has been noticed in quarrels with the powerful. It seems he will be on top again irrespective of the election’s results.