Nuland: Ukraine has to get rid of corruption, prevent decline of banking system, stabilize economy and reform judiciary system

"The best antidote to the Russian aggression and its pernicious impact is the success achieved by Ukraine as a democratic, prosperous European state. The Ukrainian government should continue to implement the promises that were made to the people and retain the trust of the international community," Nuland said.

She noted that first of all, the Ukrainian authorities ought to make significant efforts to "purge rampant corruption of the government and society at all levels, stabilize the economy, break the connection between the corrupt state-owned companies and oligarchs, and reform the judicial system."

Nuland said that key steps along this path include in particular the reform of government procurement procedures and revenue management in the natural gas sector; changes in the General Prosecutor’s Office using the pattern of new patrol police in Ukraine; setting up the Office of Inspector General within the Prosecutor General's Office; nomination of an anti-corruption prosecutor by the Ukrainian government in the short period of time.

In addition, the US official stressed the importance of improving the investment climate in Ukraine by eliminating overlapping functions, transparent privatization of about 1,800 state-owned companies, and recapitalization and recovery of the Ukraine banking system.

"The practices of transparent governance and operating business that prevent corruption is the basis for attracting foreign investment and development of opportunities," Nuland noted.

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