Ukrainian Cabinet of Ministers approves plan to fight oligarchs

Source : 112 Ukraine

This decision was made in pursuance of the so-called "law on oligarchs"
18:30, 24 November 2021


The Cabinet of Ministers of Ukraine has approved a plan of measures to prevent the abuse of excessive influence by persons who have significant economic and political weight in public life (oligarchs). The relevant decision was made at a government meeting on November 24, MP Oleksiy Honcharenko reports.

This decision was made in pursuance of the so-called "law on oligarchs".

Among the measures:

- boosting the capacities of the Anti-Monopoly Committee;

- obligatory state registration of lobbying and state register of lobbyists - until December 2022;

- ensuring fair and efficient justice (Supreme Court, High Council of Justice, CCU) by December 2023;

- ensuring security of electricity and natural gas supply until March 2022;

- cessation of electricity imports from Russia and Belarus by September 2023;

- reduction of abuses by the oligarchs to influence the media by December 2022;

- strengthening control over the financial operations of the oligarchs by December 2022;

- minimizing the influence of oligarchs on political parties and election campaigns by September 2022;

- the inevitability of punishment for political corruption until June 2022;

- bringing the tariffs for rail transportation to economically justified levels by December 2022;

- establishment of economically justified rates for transshipment of goods in SE ICC Yuzhny until February 2023;

- creation of an airline that is independent of the influence of the oligarchs by December 2022;

- international legal instruments of protection do not apply to investments of Ukrainian beneficial owners of companies registered in foreign jurisdictions - during 2022-23.

As noted in the explanatory note to the draft, the plan provides for the implementation of legal and organizational measures to promote the implementation of the law of the oligarchs, implementation of the Strategy for Justice and Constitutional Justice, create safeguards against excessive influence of persons of significant economic and political importance, in the energy sector of the economy and other spheres of public life.

As it was reported, on November 5, President of Ukraine Volodymyr Zelensky signed the law "on oligarchs" №5599. The law shall take effect the day after the date of publication, and shall be put into execution six months after the date of entry of this law into force. However, it expires 10 years after its entry into force.


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