OREANDA-NEWS. October 12, 2009. The Verkhovna Rada voted on Friday to confirm Petro Poroshenko, at the nomination of President Viktor Yushchenko, as Minister of Foreign Affairs. The motion was supported by MPs from the Tymoshenko Block, Our Ukraine and Lytvyn Bloc, and garnered 240 votes, more than the 226 majority needed. Poroshenko has been the head of the National Bank of Ukraine Council since February 2007, headed the National Security and Defense Council in 2005, and is a businessman – controlling assets such as the Roshen confectionary, and the Bogdan automobile group. Ukraine's top diplomatic post has been vacant since March 2009 when Volodymyr Ohryzko resigned. In interviews with journalists on Friday, Poroshenko said that improving relations with Russia was the largest and most strategic priority for Ukraine. Poroshenko flew to Chisinau, Moldova on Friday and participated in the annual CIS Summit.

Concorde Capital: It is not yet clear whether Poroshenko will give up his position as leader of the NBU council. There is precedent for him to keep both titles – current Justice Minister Mykola Onishchuk sits on the NBU council.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.