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Government postpones launch of oligarch register until after war

by Martin Fornusek September 22, 2023 4:34 PM 2 min read
Ukrainian business tycoon and one of Ukraine's most famous oligarchs, Ihor Kolomoisky, was arrested after being suspected of fraud at a court hearing in Kyiv on Sept. 2, 2023. (Maxym Marusenko/NurPhoto via Getty Images)
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The government decided to postpone the launch of the register of oligarchs until three months after the end of martial law, according to an official document dated Sept. 19 and recently made public.

The register was planned to be launched three months after the evaluation by the Venice Commission, a body of the Council of Europe that advises Ukraine on steps toward EU integration, on Ukraine's anti-oligarch law.

President Volodymyr Zelensky signed a decree to introduce the register on June 30, 2022, in accordance with the anti-oligarch law signed in 2021.

The law sets the legal definition of an oligarch and requires officials to declare contacts with them.

It also bans oligarchs from financing political parties, political ads, or demonstrations and excludes them from the privatization of state assets.

In June 2023, the Venice Commission recommended to Ukraine to postpone the implementation of the anti-oligarch law until after the war.

The implementation of the law is one of the seven criteria set by the European Commission that Ukraine should fulfill on its path toward EU accession.

Martial law was introduced in Ukraine at the start of the full-scale Russian invasion and is being periodically prolonged every three months.

Oligarch Kolomoisky is behind bars. How did he get there and can he find a way out?
Ihor Kolomoisky’s recent arrest is the latest episode in a prolonged, hard-fought slide from grace for one of Ukraine’s most notorious oligarchs. At his height, he governed a region, controlled huge chunks of multiple industries, made good use of his massive TV network, and a cadre of loyal politic…
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