**Ukraine’s Anti-Corruption Law Sparks International Concerns**
The Organization for Economic Cooperation and Development (OECD) has warned Ukraine that its recent law targeting the independence of anti-corruption agencies could deter defense and reconstruction investment. According to a letter obtained by European Pravda, OECD’s anti-corruption chief Julia Fromholz expressed concerns about the law in a letter sent to Presidential Office Deputy Head Iryna Mudra before it was passed.
The bill, which was swiftly approved by the parliament on July 22 and signed by President Volodymyr Zelensky the same day, grants the prosecutor general vast authority over the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO). Watchdogs and opposition lawmakers have blasted the legislation as an attempt to dismantle Ukraine’s anti-corruption infrastructure.
**Impact on Foreign Investment**
The OECD official warned that the bill threatens the independence of the anti-corruption agencies, which could undermine Kyiv’s credibility among foreign partners. This could negatively impact defense investment and reconstruction financing, which has been crucial for both Ukraine’s recovery and defense needs as the country faces mounting pressure wrought by the Russian invasion.
Foreign investment has been essential for Ukraine’s economy, and the OECD’s concerns highlight the potential risks of this legislation on the country’s international reputation and economic stability. The OECD is a Paris-based group of 38 developed and emerging economies that promotes economic growth and market economy.
**Ukraine’s Bid to Join the OECD**
Ukraine seeks to join the organization by 2026 as part of a four-year country program launched in June 2023. In a May review, the OECD praised Ukraine’s progress in tackling corruption and strengthening business integrity amid Russia’s all-out invasion. However, with this new law, Ukraine may face challenges in joining the OECD and its anti-bribery convention.
**International Partners Express Concerns**
Kyiv’s other international partners have voiced concerns about the new controversial law. The EU Commission said that NABU and SAPO “are crucial to Ukraine’s reform agenda and must operate independently to fight corruption and maintain public trust.” Dutch Foreign Minister Caspar Veldkamp also expressed concern, stating that safeguarding the independence of these institutions remains key for Ukraine’s EU accession process.
In conclusion, the OECD’s warning highlights the potential risks of Ukraine’s new anti-corruption law on defense investment, reconstruction financing, and international reputation. The international community continues to watch closely as Ukraine navigates its bid to join the OECD and strengthen its anti-corruption infrastructure.
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