ANNOUNCEMENT 25 Jul 2012

In July 2012, the government of Ukraine announced a rule change for commercial cross-border financial flows.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising
Inception date: 07 Nov 2012 | Removal date: open ended
Still in force

Controls on commercial transactions and investment instruments

In 2012, the Ukranian government, in cooperation with its central bank, discussed and established a new instrument to control capital flows.
 
On July 25, 2012, the Central Bank of Ukraine registered in the parliament of Ukraine the Verkhovna Rada (draft law 11033) concerning amendments that expand the instruments designed to influence the monetary and credit markets.
 
The law will authorise the National Bank of Ukraine to temporarily (up to 6 months) oblige exporters to sell part of their foreign-currency denominated gains. The purpose of the proposed measure is to stabilise the internal currency market and the balance of payments.
 

Draft Law 11033 /25 July 2012 was signed into Law 5480-VI on 06 November 2012 which entered into force on 07 November 2012.
 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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