The National Bank of Ukraine (the “NBU”) continues to liberalise currency control restrictions. Starting from 5 April 2017, 50% (as opposed to 65% previously) of the foreign currency proceeds received from abroad will be subject to mandatory conversion into local currency. This should substantially mitigate foreign currency risks for Ukraine-registered companies and promote Ukrainian exports. Please note that exceptions granted previously (including, but not being limited to, loans from international finance institutions where Ukraine is a member; loans involving foreign export credit agencies; funds transferred by a non-resident as security for participation in a state procurement or privatization of a state property; foreign investments etc.) which permit the sale of any foreign currency proceeds, remain in place.

Legislation:

Regulation of the NBU No.30 dated 4 April 2017 "On Amending the NBU Regulation No. 410 dated 13 December 2016".