The National Bank of Ukraine has updated the rules of currency supervision, which aims to make it easier for Ukrainian exporters to interact with international bank guarantees. Starting from May 31, 2025, banks will receive new tools to complete currency supervision of export operations of enterprises. About this reported NBU press office.
From now on, banks will be able to complete supervision in two new cases related to bank guarantees:
- from a foreign guarantor bank for a guarantee issued to fulfill obligations to pay funds for an export transaction;
- from the Ukrainian guarantor bank under a similar guarantee, provided that the guarantor bank has previously received currency funds from a foreign counter-guarantor bank in response to a counter-guarantee claim.
These changes are aimed at creating clear legal mechanisms for the use of international banking instruments in foreign trade. Prior to the introduction of the innovations, Ukrainian banks faced difficulties in completing currency supervision in the case of using schemes with guarantees and counter-guarantees, which is a common practice in world trade to minimize the risks of non-payment.
We will remind, on May 10, the National Bank started the stage of stimulating currency liberalization, which is designed to attract additional investments into the economy. According to the regulator’s decision, Ukrainian companies will have the right to carry out separate currency operations outside the current restrictions, within the allowed investment limit.
