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Zelensky vetoes law on sanctions related to individuals’ assets

KYIV. May 6 (Interfax-Ukraine) – Ukrainian President Volodymyr Zelensky has returned his proposals to the Verkhovna Rada on the law "On amendments to some laws of Ukraine to improve the effectiveness of sanctions related to the assets of certain persons", adopted by Parliament on April 21, 2022, the press service of the head of state has reported.

"This document establishes a new type of sanction through the recovery of assets owned by a natural or legal person, as well as assets that he may directly or indirectly dispose of," the message says.

It specifies that the law "does not establish clear criteria by which a person can be included among those who are subject to such a sanction. "This does not meet the requirements of the Constitution of Ukraine," the President’s Office stressed.

They note that the law also gives new powers to the National Agency on Corruption Prevention (NACP) to identify and search for assets to be blocked, individuals and entities specified in the decisions of the National Security and Defense Council of Ukraine (NSDC).

"These powers of the NACP go beyond its competence, defined by the law of Ukraine "On the prevention of corruption," the President’s Office reported.

In addition, it is noted that the document proposes to supplement the Law of Ukraine "On sanctions" with provisions on the implementation of the High Anti-Corruption Court (HACC) of administrative proceedings on cases of sanctions through recovery of assets to the state. At the same time, it does not provide for relevant amendments to the law "On the HACC", which defines the basis of the organization and activity of the HACC.

"In view of the above, President Zelensky returned this law with his proposals to the parliament for reconsideration in the session hall," the President’s Office said.