14:09 15.06.2021

Zelensky urges to develop package of legislative initiatives to overcome oligarchic system

2 min read
Zelensky urges to develop package of legislative initiatives to overcome oligarchic system

President of Ukraine Volodymyr Zelensky calls on, based on his bill on oligarchs, to develop a package of legislative initiatives as soon as possible to overcome the oligarchic system.

"For the first time in the years of independence, instead of promises, we switched to real actions to overcome this vicious circle of oligarchs' influence. The essence of this circle is simple: oligarchs accumulate illegal capital – part of this capital goes to the creation, promotion and further maintenance of politicians of different levels and officials in order to increase that illegal capital, some of which again goes to the maintenance of the same politicians and officials. Both oligarchs, politicians, and politicians-oligarchs hoped that this engine would work forever," Zelensky said during a speech at the Ukraine 30. Economy without Oligarchs forum in Kyiv.

The president said that for many years old politicians have constantly promised people to fight the oligarchs for the sake of the country's welfare growth, but the number of oligarchs only increased.

Zelensky also said the oligarchs, taking advantage of the weakness of public institutions and systemic corruption, received resources, assets and preferences for a pittance for their own enrichment, and today they are using these fortunes against Ukraine.

"From now on, it will be different. All we want is clear, transparent, equal and uniform rules for the whole of Ukraine. It does not matter if you are a small entrepreneur, farmer, big tycoon or a foreign investor. Equal rules for everyone," he said.

Thus, Zelensky said that public institutions and courts should be independent from other branches of government and from big business.

"It is important: big business is normal, correct, cool, powerful. It is not normal to become big business when you either illegally take something from the state budget or do not report something to the national budget," he said.

The president separately said that big business should not single-handedly control individual sectors of the economy and dictate the rules for the country's development.

President Zelensky said this law on oligarchs should become the foundation for a regulatory framework that will put the protection of the interests of Ukraine and all taxpayers in the first place.

"Our entire society and me are waiting for quick and understandable legislative initiatives that should introduce effective anti-trust tools to overcome the oligarchic system," the head of state said.

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