Poroshenko's office said in a statement that Ihor Kolomoysky had asked to be released from his duties as governor of Dnipropetrovsk.The government last week followed through on its designs to dilute the power of Ukraine's ultra-rich businessman by pushing a law through parliament that led, in effect, to control over an oil and gas company being wrested from Kolomoysky.
Kolomoysky reacted by ordering armed groups of men to seize offices of two energy companies in the capital, Kiev.
The episode is threatening to sow renewed political instability in Ukraine, which is battling Russian-backed separatists in eastern regions neighboring Dnipropetrovsk and a sinking economy.
Kolomoysky is a contentious figure in Ukraine — unafraid to use heavy-handed tactics in his business activities but also heavily committed to protecting Ukraine's territorial integrity.
Over the past year, he has tapped into his wealth, which Forbes magazine estimates stands at $1.3 billion, to finance volunteer battalions waging war against separatist militias. Those battalions have since been subordinated to central government control, although it is believed Kolomoysky still retains considerable sway over them.
Poroshenko said that Dnipropetrovsk should continue to serve as a defensive line for eastern Ukraine.
"We must ensure peace, stability and tranquility. Dnipropetrovsk region should remain a bastion for Ukraine in the east, to protect the peace and tranquility of citizens," Poroshenko said.
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