Ukraine: Law against oligarchs passed

The Ukrainian parliament has passed a controversial law that severely limits the oligarchs’ influence on politics. Critics accuse President Zelenskyi of wanting to eliminate potential competitors.

Ukraine wants to limit the political and economic influence of the very rich. The parliament passed a corresponding controversial law with a clear majority.

The amendment provides for the creation of a register for so-called oligarchs. They are then not allowed to support any parties, not participate in privatizations and have to disclose their assets. Oligarchs are primarily millionaires and media owners who are also monopolists in their main area of ​​business and who try to exert political influence. The law is to apply for ten years.

Criticism of the law

Before it was passed, Parliament’s human rights commissioner Lyudmyla Denisova wrote that the draft was unconstitutional. Parliament’s President Dmytro Rasumkow wanted to have the draft examined by the Council of Europe’s Venice Commission, which announced that it would take place in December. The President’s parliamentary majority voted in favor without waiting.

The main controversial issue was the provision that the National Council for Security and Defense, made up of the President, would determine who would be included in the register. The head of state Volodymyr Selenskyj had recently enforced the blockade of opposition TV channels and websites through this council. His opponents accuse him of cleaning up the media landscape before a possible re-election in 2024 and eliminating possible competitors.

Law as a reason for an attack?

Only yesterday an attack on a Zelensky adviser was linked to the proposed law. Serhiy Schefir’s close friend Zelenskyi had been shot at. According to police, Schefir himself was unharmed, but his driver was seriously injured.

Presidential adviser Mychailo Podoljak said that the background could be Zelenskyi’s actions against the powerful oligarchs. However, he confirmed to the Reuters news agency that the president would stick to his course of fundamentally restructuring the state. Zelenskyi had come to power with a promise to take action against the oligarchs and fight corruption.