Although smaller than some oblast centers and cities of regional significance, Kremenchuk carries importance of a large industrial center in Ukraine and Eastern Europe as the base of the KrAZ truck plant, Kremenchuk Oil Refinery of Ukrtatnafta, the Kryukov Railway Car Building Works, and nearly located Kremenchuk HES. The Kryukov Railway Car Building Works is one of the oldest railway repair and rail-car building factories in Eastern Europe, dates back to 1869.
Kremenchuk was supposedly founded in 1571. The name Kremenchuk is explained as deriving from the word "kremen" - flint (a mineral) because the city is located on a giant chert plate. An alternative explanation says that "Kremenchuk" is the Turkish for "small fortress".
In 1625, at Lake Kurukove in Kremenchuk, the Treaty of Kurukove was signed between the Cossacks and the Poles. Since the establishment of Cossack Hetmanate, the city was part of the Chyhyryn Polk (regiment). Following the 1654-1667 Polish-Muscovite war and Treaty of Andrusovo, the city was secured by Tsardom of Muscovy and became part of the Myrhorod Polk (regiment) within the left-bank Cossack Hetmanate. The city played a key role of the Muscovite colonization policy of Ukraine and their strive for the shores of Black Seas as regional administrative center of the early Novorossiya Governorate and Yekaterinoslav Vice-regency (Namestnichestvo). With creation of Novorossiya Governorate, in Kremenchuk was created Dnieper Pikers Regiment and coincidentally few years later (1768–69) in the neighboring regions of Poland started out so called Koliyivshchyna (literally the Piker's unrest).
During World War II (1939-1945), Kremenchuk suffered heavily under Nazi occupation. It was occupied from September 15, 1941 to September 29, 1943. More than 90% of the city's buildings were leveled over the course of the war. 29 September, the day when the city was liberated from the Nazis in 1943, is celebrated in Kremenchuk as the City Day. Despite a remarkable post-war recovery and a healthier economy, Kremenchuk lacks much of the architectural charm and distinctly Ukrainian (rather than Russian) character of its sister city, the oblast capital of Poltava.
During the Cold War, Kremenchuk became the headquarters for the 43rd Rocket Division of the 43rd Army of the Soviet Strategic Rocket Forces. The division was equipped with R-12 Dvina intercontinental ballistic missiles.
Oleh Babayev, the mayor of Kremenchuk was assassinated on July 26, 2014. Oleh Babayev opposed separatism and promoted national unity, prior to becoming mayor he was a member of the Batkivshchyna political party which opposed Victor Yanukovich. His political views and Kremenchuk's large industrial base may have been the motivation for the attack.
During the 2014 pro-Russian unrest in Ukraine security at the Kremenchuk Reservoir was heightened as it was seen as a possible target for saboteurs.
Kremenchuk's Ukrtatnafta oil refinery is the largest in Ukraine and the only one operating since the beginning of the conflict with Russia that left refineries in the Donbass inactive.
Kremenchuk is the economic center of the Poltava Oblast and one of the leading industrial centers of Ukraine. It contributes about 7% (2005) of the national economy and accounts for more than 50% of the industrial output in the Poltava Oblast. The city is home to KrAZ, a truck-manufacturing company (one of the largest in Eastern Europe) as well as a major European oil refinery operated by UkrtatnaftaKremenchuk Automobile Assembly Plantcarbon black
The light industries of the city include tobacco (JTI), confectionery (Roshen), a knitting factory as well as milk and meat processing plants.
Kremenchuk is one of the most important railway junctions in Central Ukraine (thanks to its geographical position and a bridge over the River Dnieper) and a major river port on the main river of Ukraine.
Kremenchuk is home to HK Kremenchuk ice hockey team who compete in the Ukrainian Championship and the FC "Kremin" football club.
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