Law On Transparency In Extractive Industries

On 16 June 2015, the Parliament of Ukraine adopted the Law of Ukraine On Amendments to Some Legislation of Ukraine on Securing Transparency in Extractive Industries No. 521-VIII (hereinafter – the "Law"). The Law was signed by the President of Ukraine and officially published on July 11, 2015 and came into force on July 12, 2015.

The Law was adopted in order to increase transparency in the extractive industries, implement international reporting standards, improve natural resource management systems, improve the investment climate in Ukraine, and to implement the standards of the Extractive Industries Transparency Initiative and the Government's Coalition Agreement as well as the Initiative "Partnership Open Government."