National Bank of Ukraine Lifted Some Currency Control Restrictions

National Bank of Ukraine Lifted Some Currency Con...

27 October 2015

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On 22 October 2015 following numerous statements regarding liberalization of currency control restrictions, the National Bank of Ukraine (the "NBU") adopted Resolution No. 718 ("Resolution No. 718"), which allowed performing some financial transactions related to currency values. Please note that certain currency control restrictions applicable to currency transactions have been introduced in Ukraine at the end of 2014 to stabilize the situation on the foreign currency market of Ukraine.

 

The amendments introduced by Resolution No. 718 relate to:

 

  • the registration of the loan agreements in foreign currency concluded between the residents and the non-residents
  • the control of export operations of clients by their servicing banks
  • restrictions on cash withdrawal in local currency through cash desks and ATMs

 

Resolution No. 718 entered into force on 23 October 2015.

 

Read the issue:

 

Legal Alert 27 October 2015 en.pdf (0.1 Mb)

 

In case advice is required on the above issues, please do not hesitate to contact Tatiana Zamorska (+380444590026) or contact us at the general office number (+380444905507).

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