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Yahoo
11-02-2025
- Business
- Yahoo
Ukraine Reforms Tracker Weekly — Issue 13
Editor's note: This is issue 13 of Ukrainian lawmaker Yaroslav Zhelezniak's weekly "Ukraine Reforms Tracker" covering events from Feb. 3–Feb. 9, 2025. This newsletter was until recently titled 'Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Ukraine's Parliament to review High Administrative Court bill, but passage uncertain Ukraine's Parliament, the Verkhovna Rada, is set to review bill #12368-1, which proposes the establishment of the High Administrative Court, during the first plenary week of its new session. The bill, authored by Serhiy Vlasenko from the Batkivshchyna faction, faces an uphill battle, as it does not align with the International Monetary Fund (IMF) memorandum requirements and is unlikely to secure enough support for passage. Moreover, the Committee hasn't made a decision regarding this draft law yet. As previously reported, this version of the bill assigns jurisdiction over cases related to the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor's Office (SAPO) competitions and audits to the Kyiv City District Administrative Court (KMOAC). Additionally, it proposes creating a separate Kyiv City Administrative Court of Appeal for appeals — an approach that diverges from Ukraine's commitments under the IMF's Memorandum of Economic and Financial Policies (MEFP). Meanwhile, another IMF structural benchmark, the repeal of the "Lozovyy amendments" on pre-trial investigation deadlines, remains absent from the legislative agenda — despite its original December 2024 deadline. The session's procedural uncertainty was further highlighted on Feb. 4, when lawmakers failed to secure enough votes to approve the 2025 parliamentary legislative plan and session agenda. Read also: As US cuts Ukraine funding, EU's lending arm steps in with nearly 1 billion euros in investments Ukraine's Parliament to debate ARMA reform bills This week, Ukraine's Verkhovna Rada will consider several bills aimed at reforming the Asset Recovery and Management Agency (ARMA). The agenda includes the government-backed draft law #12374, along with two alternative proposals — draft law #12374-1, sponsored by MP Tkachenko, and draft law #12374-2, introduced by MP Oleksii Movchan. The legislative amendments is a key requirement under the Ukraine Facility plan, with a Q1 2025 deadline. The reform package seeks to enhance the appointment process for ARMA's leadership, ensuring an independent selection process, as well as introducing external audits and performance evaluations to improve accountability. Zelensky backs completion of Khmelnytskyi nuclear power plant reactors Ukrainian President Volodymyr Zelensky has publicly endorsed the completion of the Khmelnytskyi Nuclear Power Plant expansion project, calling it a cornerstone of Ukraine's energy independence and regional stability. 'The completion of this project is key to Ukraine's energy independence and the region's energy security. It is important that Ukrainian lawmakers support this initiative,' Zelensky said in a Feb. 4 video address. However, MPs and anti-corruption NGOs raise concerns over the financial feasibility of the project. Investigative outlet Nashi Groshi reported that Ukraine is expected to pay $1.1 billion to acquire old Russian-made reactors from Bulgaria, with additional construction and installation costs still undetermined. Six years ago, the project's estimated cost was Hr 80 billion ($2 billion at the time), but state nuclear operator Energoatom has now launched a tender for a revised cost assessment. Read also: Parliament approves controversial purchase of Russian nuclear reactors from Bulgaria We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
09-02-2025
- Business
- Yahoo
Ukraine Reforms Tracker Weekly — Issue 12
Editor's note: This is issue 12 of Ukrainian lawmaker Yaroslav Zhelezniak's weekly "Ukraine Reforms Tracker" covering events from Jan. 27–Feb. 2, 2025. This newsletter was until recently titled 'Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Ukrainian Government approves Ukrposhta's plan to establish a bank The Cabinet of Ministers of Ukraine has approved the transfer of shares in First Investment Bank, formerly owned by Russian stakeholders, to the Community Development Ministry, with plans for subsequent ownership by state postal operator Ukrposhta. The decision, made on Jan. 28, paves the way for Ukrposhta to launch its own bank by 2025. According to Ukrposta, the planned postal bank will not engage in large-scale corporate lending or high-risk foreign exchange transactions. Instead, it will focus on providing basic financial services to rural and front-line communities, addressing financial inclusion gaps in underserved regions. After extensive discussions with international partners, such conditions for establishing a bank based on Ukrposhta were included in the text of Ukraine's memorandum with the IMF. Ukraine's Parliament to resume legislative work on Feb. 11 Ukraine's Verkhovna Rada will hold a session on Feb. 4 to formally open its new legislative term, though no decisions are expected, as the meeting is a constitutional requirement. The first plenary week, during which lawmakers will debate and vote on key legislation, is scheduled to begin on Feb. 11. However, it remains uncertain whether lawmakers will consider two key bills — the repeal of the 'Lozovyi amendments' and the creation of the High Administrative Court. Both are structural benchmarks under Ukraine's IMF memorandum. Read also: Kyivstar secures approval to acquire Uklon in multimillion-dollar deal Ukraine meets another milestone under the Ukraine Facility program President Volodymyr Zelensky has signed into law Bill #12131, which introduces a system for monitoring, reporting, and verifying greenhouse gas emissions. The legislation fulfills one of the key requirements under Ukraine's financial assistance plan within the Ukraine Facility program. Kyiv was expected to meet this condition by the end of the second quarter of 2025 as part of its broader commitments to European integration and environmental governance. Zelensky backs Defense Minister amid defense procurement dispute President Zelensky voiced support for Defense Minister Rustem Umerov in an ongoing dispute with the Defense Procurement Agency (DPA). 'The defense minister has the right to do everything necessary to prevent any delays in supplies," Zelensky stated In his recent interview for Associated Press. The president's comments follow concerns raised by Ukraine's international partners. Earlier on Feb. 3, G7 ambassadors urged Kyiv to resolve the situation at the DPA, emphasizing the importance of adhering to good governance principles and NATO recommendations to maintain public and international trust. The dispute escalated after the DPA's Supervisory Board decided to extend the contract of its head, Maryna Bezrukova, for another year. However, the Defense Ministry refused to approve the decision, leading to her removal. Arsen Zhumadilov was appointed as interim director. Over the past week, the leadership of the DPA has changed six times in the official registry, highlighting the ongoing turmoil in the agency's management. Read also: Defense Minister Umerov dismisses top official who stood up to him We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
28-01-2025
- Business
- Yahoo
Ukraine Reforms Tracker Weekly — Issue 11
Editor's note: This is issue 11 of Ukrainian lawmaker Yaroslav Zhelezniak's weekly "Ukraine Reforms Tracker" covering events from Jan. 13–19, 2025. This newsletter was until recently titled 'Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Application process closes for head of Bureau of Economic Security The submission period for applications to compete for the position of head of the Bureau of Economic Security (known in Ukraine by its acronym BEB) has officially closed. While the exact number of candidates remains undisclosed, preliminary indications suggest a strong turnout, with over 40 individuals expected to have submitted their applications. Detailed information, including the list of candidates, is anticipated later this week. The selection process will now move to the verification stage, where applications will be reviewed for compliance with requirements. Following this, candidates will undergo a rigorous six-stage evaluation. The process includes assessments of general competencies, legislative knowledge, and the ability to resolve practical cases. Integrity checks will also be a mandatory component of the selection process. Ultimately, the commission overseeing the competition will choose no more than two finalists to advance. Ukrainian business associations warn against risks of repealing 'Lozovyi amendments' According to Forbes Ukraine, several Ukrainian business associations, including SUP (Union of Ukrainian Entrepreneurs), United, and the Federation of Employers of Ukraine, along with six other industry organizations, urged lawmakers to reject four draft laws proposing the repeal of certain provisions of the "Lozovyi Amendments." The amendments, which regulate pre-trial investigation time limits, are part of a commitment Ukraine made under its memorandum with the IMF, with implementation expected by the end of December 2024. Business leaders warn that repealing these provisions could expose entrepreneurs to increased pressure from law enforcement and delay the closure of legal cases, further burdening the business environment. Integrity checks will also be a mandatory component of the selection process. Ultimately, the commission overseeing the competition will choose no more than two finalists to advance. Ukrainian defense minister replaces Defense Procurement Agency head, defying supervisory board decision On Jan. 23, the Supervisory Board of the Defense Procurement Agency (DPA) voted to extend the contract of Maryna Bezrukova, the agency's current head, for another year. According to anti-corruption watchdogs, this decision fully complied with the law governing state-owned property and the agency's charter. However, on Jan. 24, Defense Minister Rustem Umerov publicly rejected the board's decision, refusing to recognize the contract extension. The minister also removed two state representatives from the Supervisory Board, Yuriy Dzhyhyr and Taras Chmut, and recommended dismissing Deputy Minister Dmytro Klimenkov, who oversees the DPA's operations. Umerov further announced plans to appoint Arsen Zhumadilov, head of the State Operator for Non-Lethal Acquisitions (DOT), as the new DPA Director. The leadership change has already been reflected in YouControl, a Ukrainian public registry system. On Jan. 25, Anastasia Radina, head of the Ukrainian parliament's anti-corruption committee, called on Umerov to resign. Radina accused the minister of undermining defense procurement reform and engaging in manual interference with procurement processes. Read also: Defense Minister Umerov dismisses top official who stood up to him We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
