Every Path has its Puddle, or New Anti-Corruption Legislation in Ukraine

Originally published in The Ukrainian Journal of Business Law

Corruption is known as the Achilles heel of the Ukrainian economy. Transparency International¹ defined Ukraine as ranking in last place among "newly independent countries" in accordance with the Global Corruption Barometer 2009² annual review.

Such a situation is a clear obstacle to future sustainable economic growth and significantly debases the international image of Ukraine. It is not a stumbling block on the path towards deepening relations and cooperation with the EU, especially in respect of negotiations as to the EU-Ukraine Association Agreement and its integral part — the Deep and Comprehensive Free Trade Agreement, but also a significant barrier to foreign investment. Hence, fighting corruption is a top priority for Ukraine.