Draft Law of Ukraine

"On Introducing Moratorium for Forced Collection and Arrest of Funds and Other Values of Fuel and Energy Complex Enterprises"

The draft aims at ensuring energy safety of the country.

According to the draft, fuel and energy complex enterprises include enterprises performing activity related to:

• production of electricity and heat energy;
• wholesale deliveries of electricity;
• transmission of electricity through electric grids;
• extraction or storage of natural gas, transportation of natural gas and oil through pipelines;
• mining and enriching of coal;
• mining, processing of uranic ores and use of uranic ore products as raw material for obtaining nuclear material, use of nuclear fuel.

For the period up to May 1, 2004, the draft suggests introducing moratorium for collecting funds and imposing arrest to bank accounts and other values of fuel and energy complex enterprises of Ukraine.

The draft is expected to come into force on the date of its publication.

Against the current legislation of Ukraine business entities are put into unequal economic conditions. The mechanism suggested by the draft conflicts with market methods of regulating the country's economy.