(Washington Insider Magazine) -Ukraine appears to have won the race against Ukraine’s oligarchs to pass a new bill that aims to curb the wealthy’s political influence.
Business tycoons have held a strong sway on Ukrainian politics for decades and the pushback in the buildup to the bill’s introduction was huge. On Tuesday a car carrying president Volodymyr Zelenky’s top aide was met with a spray of gunfire. Whilst the president’s long time friend and former business partner emerged unscathed from the attack, in which 10 bullets hit the vehicle, the driver was injured in what the government is now calling an attempted murder. It’s widely believed that the incident was meant to intimidate the government although the authorities have stopped short of naming any possible suspects.
The new ‘de-oligarchisation’ bill was voted in by 279 lawmakers in the 450 member parliament. To be defined as an oligarch according to the bill, someone must meet three of four criteria: have control over a business monopoly, have a net worth of $89 million or more, take part in political life and have a significant influence over mass media.
Meeting the criteria threshold will result in being added to an official register. Those on the register will have restrictions placed upon them including bans on funding political parties, privatizing state assets and holding public office. On top of this will be requirements to hand in reports of meetings with senior government officials as well as announce their assets in meticulous declarations.
It is expected that around a dozen individuals will initially be added to the register. This compilation will be started by Ukraine’s National Security and Defense council once the bill is finalized.
The president must sign the bill before it comes into force and he is expected to do so. Zelensky’s campaign was based on a promise to eradicate corruption, although was done with major backing from one oligarch-owned TV channel. Few expected the former comedian to take the matter so seriously, especially after the comparatively timid beginning of his term.