Viktor Yanukovich of Ukraine was inaugurated as president on Thursday and immediately promised to combat corruption and poverty, as well as restore political stability in order to regain foreign support for the struggling economy. Despite a controversial election against Prime Minister Yulia Tymoshenko, Yanukovich's low-key swearing-in ceremony underscored the deep divisions within the country. This event marked a redemption for Yanukovich after the Orange Revolution in 2004, where mass protests overturned a rigged election in his favor. In his address to officials, lawmakers, and foreign dignitaries, Yanukovich acknowledged Ukraine's significant challenges such as immense debt, poverty, corruption, and economic crisis, stating that his team had developed a strategy for progress. He discussed the lack of foreign investment in Ukraine, emphasizing the need for political stability, the end of corruption, and clear regulations for business-government relationships in order to build trust with investors and international financial institutions. The global economic downturn has severely impacted Ukraine's economy, particularly its exports of steel and chemicals, leading to a significant devaluation of the hryvnia. Ukraine is relying on a $16.4 billion IMF bailout program, but lending was paused and will only restart once stability is restored. The finance ministry announced that an IMF technical mission is scheduled to visit on April 7th. This often results in a thorough visit from IMF officials who will then determine whether to resume the program. Yanukovich, a former mechanic supported by wealthy industrialists, had a difficult childhood in eastern Ukraine and a history of minor criminal convictions. He is expected to improve relations with Russia, Ukraine's former Soviet ruler, following a period of estrangement during Yushchenko's pro-Western tenure. Yanukovich has suggested potential compromises with Moscow regarding the future of Russia's Black Sea fleet in Crimea and has proposed a consortium involving Russia to manage Ukraine's gas pipelines. However, he has expressed a desire to renegotiate a 10-year-old gas supply agreement between Ukraine and Russia negotiated by Tymoshenko and Russian Prime Minister Putin. He also mentioned his intention to pursue a well-rounded foreign policy and has promised to work towards strengthening connections with the European Union. During his speech on Thursday, he stated that he was keeping all possibilities open and that his foreign policy would focus on creating beneficial relationships with Russia, the EU, and the United States in order to achieve the best outcomes for Ukraine. His website later confirmed that he will be traveling to Brussels next week, with the visit scheduled for Monday according to EU officials. Additionally, he plans to visit Moscow within the first 10 days of March, as reported by his Regions Party. Yanukovich defeated Prime Minister Tymoshenko by 3.5 percentage points but only received the support of one-third of the 37 million voters. The voting results showed a clear divide between Russian-speaking voters in the eastern and southern regions who supported him, and Ukrainian-speaking voters in the western and central regions who voted for Tymoshenko. Tymoshenko withdrew her legal challenge to Yanukovich's election last Saturday, but maintains that he was not legitimately elected. She and most of her parliamentary bloc boycotted the ceremony on Thursday, making it seem empty. Despite Yanukovich's call for a competent executive power, Tymoshenko is resisting efforts to remove her as prime minister, indicating ongoing political tension in the near future. She is trying to rally her allies in parliament, while his party and supporters are trying to lure deputies away from her coalition to form a new one. Creating an alliance involves complex negotiations and may take a considerable amount of time. If Yanukovich is unable to form a new coalition, he will have no choice but to organize new parliamentary elections, leading to even more uncertainty.