NATIONAL BANK OF UKRAINE CANCELLED RESTRICTION ON CERTAIN FOREIGN CURRENCY TRANSACTIONS

DLA Piper Ukraine, Kyiv, Ukraine, 
Mon, Nov 3, 2014

Witheffect from 3 November 2014, the National Bank of Ukraine cancelled* recentlyimposed prohibition to conduct the following transactions in foreigncurrency:

• to settle import transactions made without importation of goods into Ukraine's territory;
• to make payments under import agreements if goods were imported into the territory of Ukraine and customs clearance was exercised on the basis of import customs declaration exceeding 180 days.

Asreported earlier, on 23 September 2014 the National Bank introducedprohibition** to conduct certain transactions in foreign currency. Consideringthe above changes, as of today, it is still prohibited to:

• to return abroad funds received by foreign investors under transactions on sale of securities (except state bonds of Ukraine) out of stock exchanges;
• to return abroad funds received by foreign investors under transactions on sale of corporate rights of legal entities other than shares;
• to return abroad foreign investor's dividends (except dividends on securities traded on stock exchanges);
• to make payments pursuant to individual licenses of the National Bank of Ukraine (except transactions for disposal of currency values ​​on banking accounts outside Ukraine pursuant to individual licenses, issued by the NBU to legal entities).

Wehope that the above information will be helpful for you. Please do not hesitateto contact us, should you have any questions.

*The Resolution of National Bank of Ukraine dated 30 October 2014 No. 685"On introduction of changes to certain legislative acts of the NationalBank of Ukraine", entering into force on 3 November 2014.

**The Resolution of National Bank of Ukraine dated 22 September2014 No. 591 "On introduction of changes to certain legislative acts ofthe National Bank of Ukraine".