The law on oligarchs adopted in Ukraine will oblige them to submit electronic property declarations on a par with officials and MPs. At the same time, they will face criminal responsibility for concealed assets.

According to the deputy head of the National Agency for the Prevention of Corruption (NAPK) Ivan Presnyakov, the oligarchs will have 10 days to submit their declarations from the moment they are included in the NSDC register.

"These persons will be subject to the requirements for the declaration, as well as the responsibility for their violation: administrative or criminal. The register of the NAPC is ready for the inclusion of declarations of persons who have significant economic or political weight in public life, and the units responsible for checking the declarations are ready for their verification," said Ivan Presnyakov, RBC reports.

Criminal liability will be imposed if the difference between the real and declared assets is more than 500 living wages. That is, according to next year's state budget it is more than 1.3 million hryvnia. The penalty is from 51 thousand UAH fine up to three years of imprisonment.

If the difference is more than 5.6 million hryvnia, the perpetrator could receive up to two years of real imprisonment.

The Venice Commission postponed consideration of the law on oligarchs until January.