Zelenskyy put into effect the provisions on the register of oligarchs

President Volodymyr Zelenskyy has enacted regulations on the register of oligarchs.

This is stated in the relevant decree.

Zelenskyy approved the decision of the National Security and Defense Council, which approved the provision. The register, in particular, will be kept in electronic form. The regulation also determines the procedure for entering information about oligarchs into the register and obtaining information from the register.

It will not include information that contains state secrets and official information, and information about oligarchs that is entered in the register cannot be considered confidential. The register will be accessible, inter alia, to the Chairman, the Secretary and members of the National Security and Defense Council.

The register will contain personal data of the person recognized as an oligarch, the grounds for including, the company, the ultimate beneficial owner of which he is, as well as information on contributions to the election funds made by this person.

• On September 23, 2021, the Verkhovna Rada passed a bill on de-oligarchization. The document sets out a number of rules for those who enter the register of oligarchs: they will not be able to finance parties, participate in privatization and will be required to submit an electronic declaration. All officials will be required to file a declaration of contact if they have contact with the oligarch. If they do not submit such a declaration, they face dismissal.
• The National Security and Defense Council has already launched a system to monitor the oligarchs. The register was to be fully operational from May 2022.