02.08

2022

The National Bank of Ukraine has Simplified Currency Restrictions for the Import of Goods Back

As of the beginning of July 2022, the list of goods of “critical import” made up 90 percent of the goods that Ukraine had been importing before the full-scale invasion of the country by russian Federation.

For this reason, the Cabinet of Ministers of Ukraine has invalidated the concept of “critical import”, and the National Bank of Ukraine brought the relevant regulatory acts in conformity with the new changes.

Starting from July 9, 2022, companies will be allowed to purchase currency and transfer money for the import of goods falling under commodity groups 01-97 in the Ukrainian Classification of Goods for External Business Activity (UCG EBA).

In addition, the National Bank of Ukraine, has increased payment periods in foreign trade transactions from 120 to 180 days. The new deadline will apply to the transactions made by residents on or after April 5, 2022.

Currently, restrictions still remain in place on the purchase of foreign currency and international money transfers for economic operations involving import of services. Only that import of services is allowed that is included in the list of services approved by the Cabinet of Ministers of Ukraine in its Resolution No 761 of July 7, 2022.