Sat, May
76 New Articles

The Buzz in Ukraine: Interview with Dmytro Fedoruk of Redcliffe Partners

The Buzz in Ukraine: Interview with Dmytro Fedoruk of Redcliffe Partners

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Ukraine local elections, held on October 25, 2020, resulted in a setback for the country’s President, Volodymyr Zelensky, whose party did not secure a single mayoral position in any of the major cities. This did not surprise Dmytro Fedoruk, Partner at Redcliffe Partners in Kyiv, who notes that Zelensky “was not elected for his experience, but rather for his good intentions.” 

Indeed, Fedoruk says, “[Zelensky] was put under a lot of pressure recently by certain Western donors, particularly the IMF, which are not very satisfied with Ukraine’s anti-corruption efforts.” According to Fedoruk, “the Constitutional Court of Ukraine recently held unconstitutional some of the provisions of the Law on Prevention of Corruption, which limited the National Anti-Corruption Bureau’s ability to fight, investigate, and pursue persons guilty of illicit enrichment.” And, he says, the unfavorable developments in the anti-corruption field “may cause the IMF to stop providing money to Ukraine.” 

Still, despite the mixed messages on corruption, not everyone is reluctant to invest in the country. In fact, Fedoruk reports that, “many foreign companies are interested in various forms of public-private partnership, such as Production Sharing Agreements and Concession Agreements with the government of Ukraine.” Should the contracts come to pass, he says, those companies are expected to invest “hundreds of millions of dollars into Ukrainian economy.” His own firm is closely involved in the process, he says, noting that “we are currently advising Aspect Energy and SigmaBleyzer, and also the Ukrainian-based UGV, on negotiating Production Sharing Agreements with the Ukrainian government.” 

Fedoruk concludes by referring to a growing trend in the Ukrainian legal market. “Some lawyers are resorting to freelance work,” he says. “That is fine for some projects, like drafting a simple contract, but you cannot handle a project meant for a team of fifteen lawyers with freelancers.”

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com


Our Latest Issue