The Ukrainian National Security and Defence Council also imposed sanctions against the CEO of Rostec, Sergey Chemezov, and the Vice Chairman of VSMPO-AVISMA, Mikhail Shelkov.
The Ukrainian National Security and Defence Council also imposed sanctions against the CEO of Rostec, Sergey Chemezov, and the Vice Chairman of VSMPO-AVISMA, Mikhail Shelkov.
Under the Ukrainian constitution, sanctions can only be brought against Ukrainian nationals on grounds of treason. Firtash and Fuchs have been included for their role in allegedly selling natural resources to enterprises within the Russian Defence sector at a time when Ukraine was de facto at war with its north-eastern neighbour.
Mr Firtash has categorically denied the allegations that he sold titanium to Russian companies. Pavel Fuchs also responded to the sanctions on Ukrainian television, indicating that he would challenge the designation.
The move has been described by some as a reflection of a wider attack on individuals perceived to hold too much influence in Ukraine and increasing pressure from the Biden administration to crackdown on corruption. They were preceded by a speech given by Zelenskiy in March, entitled “Ukraine Fights Back”, in which he criticised the corrupt practices of oligarchs in the country and by the recent proposal to introduce a draft “oligarch law” in June, which will force oligarchs in Ukraine to register and disclose their assets, while simultaneously curtailing their ability to fund political parties. A list of 13 so-called oligarchs who would be targeted by such a law was published on 12 May by the National Security and Defence Council of Ukraine.
Commentators have suggested that these latest moves represent something of a shift within Zelenskiy’s administration, away from wider – yet relatively ineffective – anti-corruption reforms, towards a more targeted approach designed to hit specific, high-profile, oligarchs.
The precise details of the sanctions against Firtash and Fuchs have not been announced, but are expected to be published in the coming days, in the form of a presidential decree.
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