The National Bank of Ukraine (hereinafter the “NBU”) has continued its policy trend aimed at liberalization of the existing currency control regime. The continuing overall macro-economic stability in the country has inspired the regulator to gradually lift the existing severe currency restrictions. On May 25, 2017, the NBU approved Resolution No. 41, which introduced the following liberalization measures: 1. Payment / supply deadline under cross-border contracts extended The

The National Bank of Ukraine has taken further regulatory steps towards liberalization of the existing tough currency restrictions. The latter were imposed back in 2014 in order to mitigate the consequences of the worst economic and political crisis in Ukrainian history and stabilize the national financial system. However, the macro-economic stability achieved in 2016-17, relatively low inflation rates and certain progress in the cooperation with the IMF have encouraged the r

On September 14, 2016, the National Bank of Ukraine adopted Resolutions No. 386 “On Regulation of the Situation on Monetary and Currency Markets of Ukraine”, which further softened the currency anti-crisis restrictions from 2014. This Resolution becomes effective today on September 15, 2016, and will be in effect until December 15, 2016. The Regulator states in this regard, that these loosening measures will not affect volatility on the interbank foreign exchange market. Firs

Nobles has contributed to the Ukraine chapter of «Getting The Deal Through: Mergers & Acquisitions 2016». An overview covers M&A transactional requirements and procedures in Ukraine, including: types of business combinations, applicable laws, filings and public disclosure requirements, substantial shareholding regulations, duties of directors and controlling shareholders, shareholder rights of approval and appraisal, hostile transactions and frustration of additional bidders

On June 7, 2016, the National Bank of Ukraine adopted Resolutions No. 341 and 342, which substantially softened and partly abolished the currency restrictions introduced in 2014. The regulator has made this step in response to the gradual improvement of the macroeconomic situation and stabilization of the financial market of Ukraine, in particular, an increase of export and excess supply of cash currency. The changes are aimed at the improvement of the investment image of Ukr

On May 24, 2016, the National Bank of Ukraine (the NBU) adopted a resolution amending some of its previous normative legal acts and thus improving several rules for the Ukrainian currency market. This regulatory step has been taken in line with the policy of the gradual liberalization of currency regulation and control. It involved a NBU group of professional local and international consultants. Firstly, some procedural aspects of obtaining permits to conduct transactions wit

On May 5, 2016, the National Bank of Ukraine (NBU) approved new rules that relax several currency exchange restrictions as the economy seems to show further signs of recovery and stability. As one may remember, Ukrainian central bank have introduced severe temporary capital controls during 2014-2015 to counter a significant outflow of hard currency from Ukraine and further in reaction to substantial and rapid devaluation of Ukrainian national currency - hryvnia (UAH). The res