Information about a new draft law of Ukraine appeared on the Ministry of Economic Development and Trade of Ukraine (MEDTU) website.

“Parliament voted for the draft law No. 2319-d protecting the Ukraine’s national interests on the second reading. This document allows starting privatization in the first half of this year,” Adomas Auditskas, Minister of the MEDTU stated.

He also noted that the bill forbids the access to privatization for natural and legal persons of the aggressor state or country under sanctions.  Such restrictions are actually making it impossible for Russia to participate in privatization of Ukrainian assets, which is now a matter of national security.

“Innovations of the bill aim to abolish the compulsory sale through the exchange of 5-10% of the shares of state enterprises before privatization and prohibit the participation of natural and legal persons of the aggressor state in the privatization,” press service of the MEDTU reports.  

This document expands disclosure requirements with regard to potential buyers, allows the government to attract advisers on privatization, and to settle privatization disputes at the International Commercial Arbitration Court.

Photo: Internet