Nickolas Likhachov, Counsel Spenser & Kauffmann: “Full operation of the National Agency for the return of assets is one of the conditions for launching a visa-free regime with the EU”
With the order of 30.12.2015 № 1407-р the Cabinet of Ministers approved the Development Strategy of prevention and counteraction to legalization (laundering) of proceeds from crime, terrorist financing and the financing of proliferation of mass destruction weapons for the period up to 2020.
According to the expectations of officials the implementation of its provisions should reduce the level of corruption in the country, attract foreign investment, and accelerate the process of liberalization of the visa regime between Ukraine and the EU.
Nickolas Likhachov, Counsel of Spenser & Kauffmann Attorneys-at-law commented on the document for the publication Delovaya Stolitsa (Business Capital):
“The most relevant is to launch the National Agency for the return of assets, the introduction of effective mechanisms for tracing money and property illegally obtained, as well as procedures for their special confiscation, – thinks Mr. Likhachov. – Full operation of this agency is one of the conditions for launching a visa-free regime with the EU. ”
Tatiana Ochimovskaya, journalist of Delovaya Stolitsa agrees with him.” Officials have to hurry – she writes in her article Who is allowed to launder dirty money. – For example, the government widely spoke about the freezing of Mr. Yanukovich’s $ 1.4 billion. However, since then nobody has heard about the confiscation of this money or its enrollment to the state budget.