New legislation aimed at reducing the influence of oligarchs in Ukraine will saddle President Volodymyr Zelensky’s administration with increased expectations and responsibilities that could jeopardize his party’s international support and political prospects ahead of 2023 elections. Ukraine’s “de-oligarchization” has been at the core of both Zelensky’s 2024 re-election campaign and his bid to court stronger backing from Western partners. The vital element of this effort -- the so-called “oligarch bill” -- reached a major milestone on Sept. 23 when it passed in its second reading with 279 votes in Ukraine’s unicameral legislature, the Rada. The bill seeks to restrict Ukraine's “oligarchs,” the approximately 12 to 35 business owners who have dominated Ukraine's economy and exercised significant control over the country’s political processes since its independence 30 years ago. The bill’s sudden passage came the day after an alleged assassination attempt against one of Zelensky’s top aides, an incident that observers...
