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Zelensky signs law strengthening financial monitoring of politicians

by Martin Fornusek and The Kyiv Independent news desk October 26, 2023 11:57 PM 1 min read
Ukraine's President Volodymyr Zelensky. (Volodymyr Zelensky / Telegram)
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Ukraine's President Volodymyr Zelensky signed a law on Oct. 26 on financial monitoring of politically exposed persons, which is a vital step on the country's path toward EU membership.

The measure prolongs the monitoring period of government officials, who are, through their influential position, more susceptible to corruption, from three years to life.

The bill was approved by Verkhovna Rada, the Ukrainian parliament, on Oct. 17, with 276 lawmakers voting in favor.

The measure is intended to disincentivize politicians from using their positions to enrich themselves, as it extends the increased scrutiny on their finances past their time in office.

The measure will fulfill the requirements of the International Monetary Fund (IMF), lawmaker Yaroslav Zhelezniak said, adding that it should be considered a vital step in the upcoming negotiations on Ukraine's integration with the EU.

Several media reported that the European Commission is preparing to give a positive assessment of Ukraine's reform efforts in the coming weeks. The EU leaders are expected to make a formal decision on the start of the actual entry talks in December, Politico said.

Politico: EU to announce Ukraine membership talks in December
According to Politico, the EU’s executive arm will publish its “progress report” in November and will make it “very hard for member states not to say let’s open negotiations” for Ukraine.
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