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Ukrainian oligarchs to get grace period to become businessmen, - Justice Minister

Source : 112 Ukraine

During six months, the oligarchs can rid of the criteria of the status of oligarch provided by the law and not be put on the register
14:20, 24 September 2021

glavcom.ua

Justice Minister of Ukraine Denys Malyuska stated that the oligarchs will have six months of a grace period during which they can become business and not be put on the register as he stated during Pravo na vladu TV show.

Related: “Oligarchic branch of power in Ukraine is no more”: Zelensky welcomes adoption of law on de-oligarchization

According to him, during this period of time, they will be able to get rid of the criteria of the status of oligarch provided by the law and not be put on the register.

“If they become simple business during these six months, there will be no claims to them. They will not be on the register; they will not face the restrictions provided by the law. They will be classical large businessmen. As it happened in the US, where the names of oligarchs of the beginning of the 21st century were remembered with respect – they were memorized as philanthropists. Ukrainian oligarchs also have the chance to do the same during six months,” Malyuska said.

Related: Batkivshchyna, European Solidarity demand removal of Stefanchuk from consideration of law on oligarchs

As we reported, the Verkhovna Rada of Ukraine has adopted in the second reading and in general the bill #5599 on de-oligarchization. 279 MPs supported the decision.

It is noted that " this law is aimed at overcoming the conflict of interest caused by the merger of politicians, media and big business, ensuring Ukraine's national security in economic, political and information spheres, protecting democracy, ensuring state sovereignty and avoiding manipulation of citizens with intentionally distorted information in order to gain access to resources owned by the Ukrainian people."

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