The EITI Board approved Ukraine’s application for EITI Candidate status at its meeting in Abidjan on 17 October 2013.
Ukraine will now implement the EITI Standard, which will ensure more transparency of the payments to the government from the extractives sector in the country.
The First Deputy Minister of Energy and Coal Industry of Ukraine Igor Popovych welcomes the EITI Board decision on granting Ukraine Candidate status.
“The implementation of the Extractive Industries Transparency Initiative in Ukraine in accordance with its principles and obtaining the status of candidate country of ЕІТІ, will bring Ukraine closer to the level of developed European countries; improvement of the investment climate in the country; improvement of the extractive industries management practices; strengthening the anticorruption efforts and ensuring the active participation of civil society in promoting transparency and accountability in the extractive industries," he stated.
The decision of the Board on the status of Ukraine in full:
The EITI Board admits Ukraine as an EITI Candidate country on 17 October 2013. In accordance with the EITI Standard and associated transitional arrangements, Ukraine is required to publish its first EITI Report within two years of becoming a Candidate (by 17 October 2015). If the EITI Report is not published by this deadline, Ukraine will be suspended. Validation will commence within three years of becoming a Candidate (by 17 October 2016).
The Board noted that the MSG plans to include the iron ore and coal sectors in the second EITI Report before commencing Validation. The Board considers this approach sub-optimal given the significance of these industries, and emphasised that compliance requires coverage of all material oil, gas and mining industries. Achieving compliance will require coverage of these sectors unless the MSG can demonstrate that they are not material.
For further information about the EITI in Ukraine, please visit www.eiti.org/Ukraine or contact Siri Farstad at: sfarstad@eiti.org
