[:uk]
Analysis of the Presidential Decree of Ukraine No. 697/2024
Introduction
The Presidential Decree of Ukraine No. 697/2024 was issued on October 8, 2024, in the city of Kyiv. The primary objective of this decree is to implement the decision of the National Security and Defense Council of Ukraine (NSDC) regarding the imposition of personal special economic and other restrictive measures, i.e., sanctions.
Main Provisions
1. Implementation of the NSDC Decision
The first point of the Presidential decree states that the decision of the National Security and Defense Council of Ukraine dated October 8, 2024, concerning the application of personal special economic and other restrictive measures (sanctions), is put into effect. This means that all provisions and measures specified in this decision become mandatory for execution from the moment the decree comes into force.
2. Oversight of NSDC Decision Implementation
The second point of the decree outlines the responsibility for overseeing the implementation of the NSDC decision regarding sanctions. This oversight is assigned to the Secretary of the National Security and Defense Council of Ukraine. Thus, the NSDC Secretary is responsible for monitoring and ensuring compliance with the established sanction measures.
3. Commencement of the Decree
The third point of the decree establishes that the decree takes effect from the day of its publication. This means that all provisions of the decree begin to operate immediately after the official publication of the text of the decree, ensuring the prompt application of sanction measures.
Conclusion
The Presidential Decree No. 697/2024 is an important document that provides a legislative framework for the application of sanction measures approved by the NSDC. It defines the mechanisms for implementing these measures and the responsibility for their execution, which is critically important for ensuring the national security and defense of Ukraine.
Consequences:
The adoption of the Presidential Decree of Ukraine on the imposition of personal special economic and other restrictive measures (sanctions) has several significant consequences that require detailed analysis.
On one hand, this decree may serve as a powerful tool for protecting national interests and security. The introduction of sanctions allows Ukraine to respond more actively to threats from individuals or groups that may harm economic stability and social development. This could reduce financial flows to such individuals, limiting their ability to influence the situation in the country.
Furthermore, the international aspect of imposing sanctions should not be underestimated. They can serve as a signal to partners about Ukraine’s determination to combat negative phenomena destabilizing the country. This, in turn, may improve relations with other states that share common security values.
However, on the other hand, such measures may also have negative consequences. For example, the imposition of sanctions may lead to an escalation of conflicts with the countries subject to the restrictions. This could diminish opportunities for diplomatic negotiations and complicate international relations.
The domestic economy may also become subject to negative impacts. Imposing sanctions on specific individuals or companies may provoke a decline in investment attractiveness, a reduction in production, and an increase in unemployment levels. Enterprises that fall under sanctions may struggle to ensure stable supply, leading to increased prices for goods and services and affecting the welfare of the population.
Moreover, there is a risk of unpredictable reactions from those on whom sanctions are imposed. This could manifest in the form of lawsuits or the activation of boycott campaigns, which could further harm Ukrainian exporters.
Thus, the adoption of this decree on sanctions is an ambiguous step, which has both positive and negative consequences that affect domestic policy, international relations, and the economic stability of Ukraine.[:]
