Law on oligarchs put on pause, but inquiries ongoing - justice minister
The move to postpone the adoption of the law on oligarchs does not point to poor legislative efficiency as it is a requirement put forward by the European Union.
That’s according to Minister of Justice Denys Maliuska, who spoke on the air of Ukrainian Radio.
"At the moment, all our efforts in terms of adopting the law on oligarchs and its implementation have been put on hold at the request of our European counterparts as one of the conditions for the launch of negotiations on Ukraine's accession to the European Union," the minister said.
He emphasized that European integration is a priority for Ukraine, which is why the implementation of the law on oligarchs has been put on pause.
"This, however, does not mean that it is or was ineffective. It had a significant effect as the oligarchs stopped actively abusing their opportunities and influence in power. They were afraid of being put into the register of oligarchs. Many of them dropped their media assets, some refused to engage with politicians and get into politics. Therefore, we can say that we are satisfied with the impact the law on oligarchs had," said Maliuska.
According to the minister, while the law adoption is postponed, criminal investigations of crimes committed by oligarchs and their entourage are underway.
Regarding the postponement of the launch of the register of oligarchs, he also referred to it as a requirement of the European Union and the Venice Commission.
"We cannot say that this is a final demand that won’t be subject to discussion. For example, I intend to speak with our colleagues - Western lawyers and academics early December. And the Venice Commission, together with one of the German universities, is holding a special conference ‘Money and Politics’ to highlight the influence of oligarchs on politics and explain what the reaction should be on the part of governments to the abuse of influence by oligarchs. This conference focuses on Ukrainian laws on oligarchs, duplicated and copied by Moldova and Georgia, and Europeans want to understand how they should react," he added.
The minister noted that such legislation had never been practiced before "so lawyers, researchers, and practitioners want to get together to decide what to recommend to the EU members and members of the Council of Europe, as to how to behave in such a situation."
"Let's see, maybe we will be able to convince our partners that the implementation put on pause is not the best option. So it is still possible. The oligarchs should not relax," he said.
As Ukrinform reported earlier, in November 2021, President Volodymyr Zelensky signed off the Law on prevention of threats to national security associated with excessive influence of individuals who have significant economic or political weight in public life (oligarchs)".
The law provides a legal framework to separate big business from political life and to limit the destructive influence of vested (oligarchic) interests on Ukraine’s economy. It also establishes criteria for designating oligarchs and sets requirements for the transparency of contacts between political figures and officials with oligarchs or their representatives.
On June 29, 2022, President Volodymyr Zelensky put into effect the NSDC decision on creating a register of oligarchs.
Photo: minjust.gov.ua