The National Bank of Ukraine has announced changes to the current currency restrictions for business, which will come into effect on November 20, 2024.
As informs the press service of the NBU, the innovations are bilateral in nature. On the one hand, they are aimed at easing restrictions to promote international trade and technical assistance projects, and on the other hand, they strengthen control over compliance with currency rules.
The main changes are:
- Transfers under import contracts. Ukrainian enterprises are allowed to make payments for imported goods without restrictions on the term of their delivery, provided that the funds are directed to the benefit of foreign export credit agencies or foreign countries.
- Settlements for international technical assistance. Now Ukrainian residents can transfer currency abroad for payments within the framework of international technical assistance projects, regardless of which state or organization finances these programs. This expansion will cover not only EU donor programs, but also other initiatives financed by foreign partners.
- Repatriation of dividends. The National Bank of Ukraine introduces additional criteria for control of operations for withdrawal of dividends abroad. This decision was taken due to the detected attempts to bypass repatriation limits.
In order to prevent the circumvention of currency restrictions, from November 20, 2024, the use of foreign currency loans for the purchase of securities denominated in foreign currency is prohibited.
