UKRAINE Law and Practice Contributed by: Denys Bugay, Volodymyr Vashchenko, Denys Shkarovsky and Oleksandr Lukianenko, VB Partners
Constituent elements Object: life, health, dignity, and international human rights. Objective element: • genocide; or • crimes against humanity (murders, persecution based on nationality, ethnicity or religion, or forced displacement). Subject: natural persons. Subjective element: intent. Sanctions: imprisonment for up to 15 years or life imprisonment.
• includes falsification, embezzlement, abuse of powers, or corrupt actions. Subject: natural or legal persons holding official func - tions or controlling the company. Subjective element: intent, often motivated by per - sonal gain or hidden benefit. Sanctions: fines (up to UAH425,000 – approximately EUR8,800), restriction or imprisonment for up to 12 years, disqualification for up to three years, and often confiscation of property. Companies in Ukraine are not obliged to monitor their suppliers in case of criminality, but they are expected to implement ESG policies, auditing, and supply chain monitoring to minimise risks of labour, environmental, and governance violations, as well as to avoid admin - istrative, civil, or reputational liability. 3.15 Artificial Intelligence and Automation Misuse Currently, Ukrainian legislation does not establish any distinct criminal or administrative offences related to the misuse of artificial intelligence, algorithmic trading, or automated decision-making in financial or commer - cial contexts. 3.16 Crypto-Assets and Digital Currency Crimes Classification of Crypto-Assets In Ukraine, crypto-assets are not recognised as legal tender, but they are considered property or financial assets. Depending on their characteristics, they may be classified as securities, property, or goods, which determines the applicable law and potential sanctions. Although crypto-assets are currently not recognised as legal tender in Ukraine and are not directly regu - lated as currency or securities, this does not preclude liability for unlawful activities involving them. Specific criminal offences have not yet been established, but violations may take the following forms. Fraud involving crypto-assets (criminal liability – Article 190 of the Criminal Code) Object: property rights.
Governance/Corporate Offences In Ukraine, these may manifest as:
• abuse of power or official position (Article 364 of the Criminal Code (CC)) – misuse of authority con - trary to company or state interests; • corrupt or fraudulent official actions (Articles 366, 367, 368 and 369 of the CC) – including illegal receipt or provision of benefits, falsification of documentation, and official negligence; and • violations of accounting or financial reporting rules (Articles 212-1 and 220-2 of the CC) – falsification of financial documents misleading shareholders, investors, or regulatory authorities. The constituent elements of governance offences are as follows. Object: • rights and lawful interests of legal entities, the state, and third parties; • ensuring transparent corporate governance; and
• financial discipline. Objective element:
• intentional acts or omissions causing harm to the interests of the company, the state, or third parties; or
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