Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 04 JULY 2023

Currency Restrictions In Ukraine: Changes To The Rules For External Debt Financing

Kinstellar
Explore more from Kinstellar

Following the outbreak of the full-scale Russian invasion, the National Bank of Ukraine (the "NBU") implemented temporary restrictions on cross-border foreign currency transactions.

UkraineFinance and Banking
Illya Muchnyk
Illya Muchnyk
Oleksandra Poliakova
Oleksandra Poliakova
Author LinkedIn connections

Following the outbreak of the full-scale Russian invasion, the National Bank of Ukraine (the "NBU") implemented temporary restrictions on cross-border foreign currency transactions. These restrictions were outlined in Resolution No. 18 of the NBU Board "On the Operation of the Banking System during the Period of Martial Law" ("NBU Resolution No. 18"). NBU Resolution No. 18 established an exclusive list of crossborder foreign currency transactions permitted during the martial law period.

Initially, residents were prohibited from conducting transactions to service external debt financing. However, the NBU has gradually relaxed the restrictions by allowing interest repayments under specific conditions and defining a list of lenders to whom payments are allowed.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

NBU Continues To Ease Currency Restrictions In Ukraine: New Opportunities For Individuals And Businesses

The National Bank of Ukraine has introduced significant changes to foreign currency restrictions, expanding opportunities for individuals to purchase and use foreign currency, make cross-border payments, and conduct investment transactions. These regulatory amendments also provide Ukrainian companies with greater flexibility for international business operations, including new incentive-based liberalisation mechanisms and enhanced support for export activities.
UkraineFinance and Banking
Kinstellar
Kinstellar
Article

Amendments To The Civil Code Of Ukraine Regarding Factoring Regulation

Ukraine has adopted a comprehensive new factoring law that harmonizes its legal framework with international standards, specifically the UNIDROIT Model Law on Factoring. The legislation establishes clear definitions, requirements, and protections for factoring agreements while eliminating regulatory conflicts by transferring factoring regulation from the Civil Code to dedicated legislation.
UkraineFinance and Banking
NAZALI Attorney Partnership
NAZALI Attorney Partnership