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Parliament Approves Law on Oligarchs in First Reading

July 1 – Law #5599 on oligarchs was approved in parliament in the first reading with 275 votes by MPs from the Servant of the People, For the Future, and Trust. The law empowers the National Defense and Security Council to determine who are oligarchs in Ukraine and evaluate what kind of impact they have on the media.

On June 2, Ukrainian President Volodymyr Zelenskyy submitted the draft law to parliament as urgent.

On June 3, Speaker of Parliament Dmytro Razumkov said that the draft law mistakenly assigns the National Defense and Security Council as responsible for defining who is an oligarch, and that in fact an entirely new institution should be established to make these decisions.

The European Solidarity party stated that in their view the draft law is directed personally against former President and European Solidarity leader Petro Poroshenko, and that the main goal for Zelenskyy in the creation of this law is to concentrate absolute power in his own hands.

Igor Kolomoyskyi said that he was ready to be included in the list of oligarchs but he would not wish to be the only one there. Rinat Akhmetov’s press service released a statement saying that he is a businessman and the largest investor in Ukraine’s economy, but not an oligarch.

More on Detector Media in Ukrainian.

Photo: Tingey Injury Law Firm