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                        FRIDAY, MARCH 29, 2024
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GISMETEO.RU
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Nation    

Sorkin nominated to succeed NBU governor
Journal Staff Report

KIEV, Jan. 9 – President Viktor Yanukovych on Tuesday nominated Ihor Sorkin, a deputy governor of the National Bank of Ukraine, to the top post at the NBU, a nomination that needs to be approved by Parliament.

At the same time all Regions Party lawmakers received a text message from their headquarters urgently requesting them to show up in Parliament Wednesday morning for a vote to approve the NBU governor.

Yanukovych’s Regions Party does not control a majority in Parliament and will have to rely on independent lawmakers and the Communist Party for the successful vote.

The NBU governor post is vacant since December 24 when Yanukovych promoted Serhiy Arbuzov to first deputy prime minister. He also appointed Sorkin as the acting governor.

The nomination comes at a time when the local currency, the hryvnia, is facing a downward pressure due to weakening exports of Ukrainian steel in 2012. Steelmakers are the country’s main hard currency earners.

Sorkin, who originally comes from Donetsk, the hometown of Yanukovych, is believed to be a long-time ally of Arbuzov, suggesting that his recent policies will be continued.

Arbuzov’s most controversial policy idea - to introduce a 15% tax on hard currency transactions by individuals – was rejected by the Regions Party lawmakers in December.

Sorkin is most likely supportive of the controversial idea and that may be a problem among lawmakers while confirming his nomination.

“The problem is that Sorkin is not independent and will be implementing orders from Arbuzov and the [Yanukovych] Family,” Serhiy Liamets, an editor at Ekonomichna Pravda, said. “So far he has never had a courage to approve any more or less important decisions and preferred to hear out an opinion of Arbuzov first.”

“As a result, Arbuzov will continue to manage the NBU with whatever consequences this may entail,” Liamets said.

There is also a Russian dimension to the nomination. Sorkin’s father, Viacheslav Sorkin, has a key management position at Russian natural gas giant Gazprom in Moscow. He is the head of the investment and construction department at Gazprom.

The vote to approve the new governor at the NBU is so important to the Yanukovych administration that every Regions Party lawmakers received a text message urging him or her to show up in Parliament on Wednesday.

“The tone of the message is on the verge of hysteria,” Serhiy Leshchenko, reporter at Ukrayinska Pravda, who obtained the text, said. “They want Regions Party lawmakers in Parliament at 9:45 am for the very first item on the agenda to approve Sorkin as the governor.” (tl/ez)




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Currencies (in hryvnias)
  28.03.2024 prev
USD 39.23 39.14
RUR 0.425 0.422
EUR 42.44 42.44

Stock Market
  27.03.2024 prev
PFTS 507.0 507.0
source: PFTS

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