The Economic Security Council of Ukraine (ESCU) is an institution responsible for identifying and countering internal and external threats to economic security in Ukraine.
ESCU focuses on protecting the economy of Ukraine from subversive activities of the Russian Federation, monitoring the correct implementation of sanctions imposed on Russian entities and foreign companies that cooperate with them, as well as imposing new restrictions on companies that harm or threaten the economic security of Ukraine.
The Economic Security Council of Ukraine works in the following areas:
- Analyzing the effectiveness of economic sanctions and sanctions policy imposed by Ukraine, the EU, the USA, etc.
Developing solutions to improve the effective sanctions compliance program
Monitoring activities of the companies regarding their compliance with or violation of sanctions policy
Coordinating and guiding state bodies in detecting violations of sanctions policy
Searching, accounting, and preparing for extracting assets that belong to beneficiaries from the Russian Federation or from countries that support the armed aggression of the Russian Federation in Ukraine
Cooperating with state bodies in order to ensure the economic security of Ukraine
Coordinating the provisioning process aimed at supplying the Special Operations Forces of Ukraine with weapons, equipment, medical and tactical communications equipment
- Covering Russia's war crimes and the consequences of the armed aggression of the Russian Federation against Ukraine in economic, political, and humanitarian areas.
To perform the assigned tasks, ESCU conducts explanatory work with foreign companies that, despite the sanctions imposed by the USA and the EU, and the ongoing military aggression of the Russian Federation against Ukraine, continue to work for the benefit of the aggressor state, with help of shell companies in particular.
As of September 2022, ESCU has identified dozens of suppliers in the industrial, agro-industrial, enterprise software, oil trading, and oil service industries that continue to operate in the Russian Federation and de facto finance Russia's military actions in Ukraine. Currently, ESCU is actively working on identifying and curtailing the activities of enterprises that are operating in the Russian Federation and that are critically important for the Russian infrastructure, military-industrial complex, the banking sector, etc.