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Ukraine's bid to legalize medical cannabis has hit a roadblock as the Batkivshchyna (Fatherland) parliamentary faction obstructed the bill's approval, despite garnering support from 248 deputies of the Ukrainian Verkhovna Rada on December 21.
Despite President Volodymyr Zelenskyy's endorsement of medical marijuana, MP Yaroslav Zalizniak reported on Telegram that the bill's progress is on hold until mid-January.
What Happened
The bill faced resistance from the Batkivshchyna and European Solidarity factions. Yulia Tymoshenko, Batkivshchyna's leader, announced plans to appeal to the Constitutional Court, citing voting irregularities and alleging that the bill "legalizes drug trafficking and the drug mafia in the country," without substantiating her claims.
Irina Herashchenko, co-chair of European Solidarity, criticized the bill, arguing its focus on industrial production over medical cannabis and its lack of clear state regulation.
Why It Matters
The opposition's concerns have injected complications into the trajectory of medical cannabis legalization in Ukraine.
Bill 7457
The approved legislation permits the "circulation of varieties of plants of the hemp genus (Cannabis) for medical purposes, products of their processing, and medicines produced from them" in scientific, technical activities and medical practice. However, the bill faces delays and legal scrutiny before potential implementation.
While medical cannabis legalization looms on the horizon, recreational cannabis remains illicit.
What's Next
The bill is slated to remain blocked until mid-January. There is a possibility that Parliament may revisit the blockage during this timeframe, potentially unblocking it and leading it to the president's desk for signing. If successful, enactment is expected in July 2024.
Image by Max Kukurudziak On Unsplash
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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