Volodymyr Zelenskyy signed a law on de-oligarchization

Photo Тwitter of Volodymyr Zelenskyy

President of Ukraine Volodymyr Zelenskyy signed a law on de-oligarchization.

He announced this on Twitter, UA informs.

“Democracy is law and equality. I signed an anti-oligarchic law that radically changes the relationship between big business and politicians. Now all economic players will be equal before the law and will not be able to buy political privileges for themselves. We will not let anyone break the law” – the head of state wrote.

The purpose of the law is to overcome the conflict of interests caused by the merger of politicians, media and big business; preventing the use of political power to increase own capital; ensuring the national security of Ukraine in the economic, political and information spheres; protection of constitutional rights and freedoms of a citizen; protection of democracy; ensuring state sovereignty and avoiding cases of manipulating the consciousness of citizens with deliberately distorted information.

It is established that an oligarch is an individual who simultaneously meets at least the following characteristics:

1) participates in political life;

2) has a significant impact on the media;

3) is the ultimate beneficial owner of an economic entity that is a subject of natural monopolies or holds a monopoly position in the market;

4) the confirmed value of the person’s assets (and the business entities of which he is the beneficiary) exceeds one million subsistence minimums established for able-bodied persons on January 1 of the respective year.

The decision to recognize a person as an oligarch is made by the National Security and Defense Council.

To remind, the Verkhovna Rada adopted the draft state budget-2022 in the first reading.

Read also: The planet received two eco-bombs in the center of Europe: Crimea and the occupied part of Donbas – the President