On 7 June 2016 the Board of the National Bank of Ukraine (NBU)
adopted a new "anti-crisis" Resolution No. 342 (the
Resolution.)
The Resolution was adopted to replace the earlier
"anti-crisis" Resolution of the NBU No. 140 dated 3 March
2016, as amended, that expired on 8 June 2016. As a general matter,
the Resolution partially prolongs the previously effective
anti-crisis measures and introduces some simplifications for
business.
Among the introduced changes, we note the following:
- The threshold for mandatory
conversion of foreign currency proceeds received from abroad into
Ukrainian hryvnia was decreased from 75 percent to 65 percent of
the amount received.
- The NBU has now allowed repatriation
of dividends to foreign shareholders of Ukrainian companies for
2014 and 2015 in the amount not exceeding in each calendar month
the higher of (a) US$1 million (in equivalent); or (b) 10 percent
of all such dividends that should be paid to a shareholder but not
more
