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Existing Challenges, Oligarchs Hinder Ukraine Reforms – EU Auditors

© Sputnik / Alexei Furman / Go to the photo bankA view of the sculpture "Ukraine" on Troitskaya Square, Kiev.
A view of the sculpture Ukraine on Troitskaya Square, Kiev. - Sputnik International
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Challenges faced by Ukraine since the 2014 Maidan events and the grip of business elites on the power impede the reform process in the country, EU auditors wrote in a report published Wednesday.

BRUSSELS (Sputnik) — The report by the European Court of Auditors (ECA) reads that "the challenges faced by Ukraine still heavily affect the reform process and the risks posed by the former and new oligarchs remain high."

Self propelled howitzers drive during a rehearsal for the Independence Day military parade in the centre of Kiev, Ukraine, August 19, 2016 - Sputnik International
US, Ukraine Review Security Aid to Kiev in Washington Meeting
Luxembourg-based independent auditors, dubbed the "guardians" of the EU finances, assessed whether the European Commission and the European External Action Service provided effective assistance to reforms in Ukraine between 2007 and 2015.

"Over most of the period audited, the unstable political, legislative and administrative context limited the effectiveness of EU assistance," the auditors wrote.

EU-Ukraine cooperation advanced in the wake of the 2014 coup, according to the ECA, but the EU financial assistance was too prompt and did not follow an agreed strategy. The watchdogs recommended improving the design of cash disbursements to Ukraine and placing greater emphasis on the implementation and sustainability of reforms.

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