The Minister of Justice of Ukraine said when the law on oligarchs will come into force: “The gun will be fired soon”

Implementation of the law on oligarchs is hampered by two factors – the Venice Commission’s failure to reach a conclusion about the document and the war. This was expressed by Minister of Justice Denis Malyuska during a discussion posted on Youtube by the Center for Economic Strategy about the existence and interests of Ukrainian oligarchs.

According to him, the Venice Commission is still watching how the Ukrainian authorities will implement the law as a whole.

“Let me remind you that the law on oligarchs is not the only tool in the hands of the authorities,” the official said.

He noted that Ukraine is the first country in the world to adopt such a law. Denys Malyuska added that the European Commission has not only put the law on oligarchs in the conditions of European integration, but also advised Georgia to look at Ukraine’s implementation.

“Actually, this law is now a weapon that hangs on the wall and will shoot soon,” the minister said.

Recall that according to the “law of deoligarchy”, an oligarch is a person who meets at least three of the following criteria:

• participates in political life;
• has a significant influence on the media;
• the ultimate usufruct of the monopoly;
• confirmed that the value of one’s assets exceeded one million living wages (2,270 million).

Anyone who enters the register of the oligarchs will be prohibited from financing parties, buying large-scale privatization objects and financing political campaigns.

On July 11, Ukrainian businessman Rinat Akhmetov announced that he had made a “forced decision” to withdraw the investment company SCM from the media business in connection with the “deoligarchization law”. On July 12, Akhmetov’s media stopped working. On 14 July, his media group “Ukraine” filed an application with the National Television and Radio Broadcasting Council to revoke the licenses.

It was learned that in November last year, due to the “anti-oligarchic” law, shares of TV channels were sold by the fifth president of Ukraine, people’s deputy and leader of the European Solidarity party Petro Poroshenko.