An attempt to “deoligarchise” Ukraine – real action or a game of pretence?
An attempt to “deoligarchise” Ukraine – real action or a game of pretence?

Author(s): Sławomir Matuszak
Subject(s): Business Economy / Management, Government/Political systems, Law on Economics, Fiscal Politics / Budgeting
Published by: OSW Ośrodek Studiów Wschodnich im. Marka Karpia
Keywords: The Ukrainian oligarchs; The Oligarchs Act; tax changes; Volodymyr Zelensky;
Summary/Abstract: Over the past year, President Volodymyr Zelensky has changed his rhetoric towards representatives of big business, commonly referred to as oligarchs. He has made a shift from the position of a neutral arbiter to uttering slogans about combating their excessive influence on politics and the economy. On 5 November, he signed the Oligarchs Act, intended at limiting their influence on politics. In addition, an act amending tax regulations is to be passed in the near future, which will reduce the profits of those who own assets in the iron ore mining sector. However, the solutions adopted are largely of a populist nature and are unlikely to diminish the importance of the oligarchs. Instead, they may prove to be a convenient instrument for the ruling camp to put pressure on big business to ensure its loyalty. This will be crucial if Zelensky, contrary to the announcements he made during the election campaign, decides to seek re-election, which is becoming more and more likely.

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