Verkhovna Rada passes law disallowing Russian entities to take part in privatization Wednesday, February 17, 2016 2:04:00 PM

Last year's plan to privatize state-owned enterprises will begin this year.

The Verkhovna Rada of Ukraine has passed the law needed to start the privatization. However, it stipulated that Russian companies are not allowed to participate in privatization in Ukraine. 252 deputies voted for the amendments of Ukrainian laws concerning the clarification of provisions of №2319a.

According to a correspondent from LIGA.net, the amendment prohibits legal entities and associated individuals registered in aggressor countries to participate in privatization efforts as buyers.

Representatives from countries subject to sanctions are also prohibited from participating in privatization. Such limits were proposed to apply to natural persons with citizenship of the country which is considered to be an aggressor as well.

Furthermore, it was proposed to abolish mandatory sales through the exchange of 5-10% of share capital.

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