President Volodymyr Zelenskiy promised swift action on Thursday and warned Ukraine could lose international aid and support after a Constitutional Court this week ruled to abolish some anti-corruption laws.
The court said it saw as excessive the punishment set for false information on officials' asset declarations and struck down some critical powers of the key anti-graft body NAZK, which in turn said the court had destroyed the anti-corruption system.
Ukraine's patchy performance on reforms and tackling entrenched corruption has derailed a $5 billion program agreed in June with the International Monetary Fund at a time its economy is in sharp downturn due to the COVID-19 pandemic.
The European Union's delegation to Kyiv warned that its financial assistance was tied to Ukraine's performance on corruption.
A further deterioration could threaten Ukraine's prized visa-free access to the EU countries, a member of the European Parliament's foreign affairs committee has warned.
"We will not have money. We will not have support. Projects on which agreement was reached will be canceled, as well as World Bank support. We will have a big hole in the budget," Zelenskiy said in a statement.
"The recent decisions of the [court] undermine trust in Ukraine, outrage Ukrainians," he said in a separate post on Twitter, adding that he wanted new legislation introduced as soon as possible to rectify the situation.
The United States, Canada, Britain and the European Union have backed Ukraine with aid and sanctions on Russia after the 2014 Maidan street protests that ousted a Kremlin-backed leader but have repeatedly pressed Kyiv to quicken the pace of reforms.
"The G-7 ambassadors are alarmed by efforts to undo the anti-corruption reforms that followed the Revolution of Dignity," a statement said. "Too much progress has been made, Ukraine must not go back to the past."
In a separate statement, the EU said the court decision "calls into question a number of international commitments which Ukraine assumed in relation to its international partners, including the EU."
