The Institute of Legislative Ideas together with the Ministry of Justice of Ukraine and the European Business Association held an important meeting to discuss the new draft law No. 12406
On 29 January, the Institute of Legislative Ideas, together with the Ministry of Justice of Ukraine and the European Business Association, held an important meeting to discuss the new draft law No. 12406, which criminalizes the violation and circumvention of sanctions. The event was aimed at explaining the key aspects of the draft law and its potential impact on the business community. The meeting brought together more than 60 business representatives from both small and medium-sized businesses and the largest Ukrainian corporations. The participants also included experts in the field and representatives of international companies interested in the transparency of Ukraine's sanctions policy.
Tetyana Khutor, Chairman of the Institute of Legislative Ideas, and Inna Bogatykh, Deputy Minister of Justice of Ukraine, presented the main provisions of the draft law, explained its mechanisms, and answered the most pressing questions of the business community. During the discussion, Inna Bogatykh stressed that the introduction of Ukrainian sanctions is not aimed at completely blocking or stopping the activities of Ukrainian companies. In her turn, Tatyana Khutor drew attention to the importance of sanctions compliance as a prerequisite for doing business with integrity. She stressed that the introduction of sanctions control and compliance mechanisms will help Ukrainian companies avoid legal risks and increase the level of transparency of economic activity.
The Institute of Legislative Ideas expresses its gratitude to the European Business Association for its support in organizing the meeting, as well as to all participants for their active participation and constructive dialogue. Joint work with businesses and experts contributes to the creation of more transparent and effective legislative solutions that will help Ukrainian businesses operate under the sanctions regime without unnecessary risks and misunderstandings.