GENERICO.ruPoliticsZelensky signed a law on oligarchs: what is its essence

Zelensky signed a law on oligarchs: what is its essence

Zelensky commented on the signing of the law.

President Volodymyr Zelenskyy signed the law on oligarchs (draft # 5599). The law will come into force six months after its official publication, reports with reference to.

“In all successful European countries, there is no such branch of government as the oligarchs. The states work there in the interests of their citizens, and not a handful of the richest. It was for such changes for Ukraine that our citizens voted in 2019, ”Zelensky said.

The essence of the law

The law provides for the creation of a special register where oligarchs will be entered. To do this, they must meet three of four criteria:

  • participation in political life,
  • significant influence on the media,
  • control or ownership of a monopoly,
  • the presence of assets in the amount of about 2.3 billion hryvnia.

According to the final version, the definition of oligarchs is the prerogative of the NSDC, which is headed by President Vladimir Zelensky.

Businessmen included in the register of oligarchs will be required to submit an electronic declaration on an equal basis with officials.

According to the law, a person recognized as an oligarch and included in the Register is prohibited from:

  • finance parties,
  • to be a buyer in the process of privatization of objects of large privatization;
  • finance any political campaign or rallies or demonstrations with political demands.

In addition, oligarchs and civil servants will have to report on contacts with each other.

We will remind, the Verkhovna Rada on November 3 eliminated contradictions and inconsistencies in the voted bill No. 5599 (the law on oligarchs). This was done in accordance with article 131 of the Regulation without re-voting the entire law. The deputies supported the proposal of the Verkhovna Rada Committee on National Security, Defense and Intelligence.

Thus, the National Security and Defense Council (NSDC) will keep the register of oligarchs, as insisted in the President's Office.

The bill “On the prevention of threats to national security associated with the excessive influence of persons with significant economic and political weight in public life (oligarchs)” was introduced to the Rada by the President in early June 2021.

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