Ukraine's President Volodymyr Zelenskiy promised a quick new plan on Wednesday to fight corruption, after a law curbing the independence of anti-graft agencies triggered the first street protests of the war and rare rebukes from European allies.

Ukraine's President Volodymyr Zelensky has signed a bill that critics say weakens the independence of the country's anti-corruption bodies, sparking protests and drawing international criticism.

Ukraine has toughened restrictions on two anti-corruption agencies at the centre of the government's reform drive, rolling back their autonomy in favour of tighter executive control. Stamping out endemic graft is a requirement for Kyiv to join the European Union as well as to secure billions in Western aid.

Vasily Astrov, expert on the Russian economy at the Vienna Institute for International Economic Studies, told Newsweek that "inflation has really subsided markedly over the past few months. The outcome of this policy has been a marked cooling of domestic demand, with the welcome side effect of rapid disinflation.