Zelensky tables so-called Oligarchs Bill in parliament.

REUTERS

Ukrainian President Volodymyr Zelensky tables a bill in parliament to eliminate the oligarchic system in Ukraine.

This was reported by the press service of the President's Office.

Read also Bill on status of oligarchs – Zelensky's new initiative

Draft law No. 5599 on preventing threats to national security associated with the excessive influence of persons with significant economic or political heft in public life (oligarchs) was tabled as an urgent one.

"This document contains the definition of the so-called oligarchs – persons who have significant influence in the economic and political life of the country, and also control the main segments of the media sector," it said.

The President's Office notes that the bill does not violate the fundamental rights of people who fall under the definition of an oligarch, but only defines the circle of such persons and establishes the rules for their transparent relationship with government officials. In particular, it will regulate meetings and other relationships between government officials and persons with significant assets.

This law is designed to expire in 10 years. It should be the first step towards the elimination of the oligarchic system in Ukraine. It will be used as the grounds for drafting antitrust laws, a law on lobbying activities, and other regulatory legal acts that will reformat the economic and social relations in the country.

Translation: Akulenko Olena

Unian

Read the top-news of politics in Ukraine and the world, the latest political news from the UNIAN news agency.

https://www.unian.info/

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