+ Word must be in search result. - Words must not be in search result. * Word start/end on characters before/after symbol. ""Words in quotes will be searched as phrase.

 

CURRENCY TRANSACTIONS AND FOREIGN TRADE SETTLEMENTS WITH NON-RESIDENTS IN 2023

09 February, 2023 Newsletters

During martial law, the main regulatory act that regulates settlements in foreign economic activity is Resolution of the NBU No. 18 “On the operation of the banking system under martial law”. It sets restrictions on cash withdrawals, currency purchases, and international settlements, as well as separately – on settlements with persons related to Russia or Belarus.

The purchase of foreign currency and currency transfers abroad are regulated according to the principle “anything that is not expressly permitted is prohibited”. But there are dozens of exceptions to the general ban for specific cases. The settlement terms for the export and import of goods worth more than the equivalent of UAH 400,000 are 180 calendar days. Settlements with persons related to Russia or Belarus are generally prohibited, but there is a number of exceptions.

The full version of the article is available in Ukrainian by the link.

Kind regards,

© WTS Consulting LLC, 2023

Views 14384

Comment