By its Resolution No. 863, effective as of 5 December 2015, the National Bank of Ukraine (the "NBU") extended the terms of its currency restrictions until 4 March 2016 (inclusive). Resolution No. 863 eventually prohibits, inter alia:prepayment under cross-border loan agreements (with certain exemptions); assignment of cross-border and domestic loans denominated in foreign currency (with certain exemptions); repatriation of proceeds received by foreign investors from the sale of Ukrainian issuers' securities outside the stock exchanges; repatriation of proceeds received by foreign investors from the sale of their corporate rights in legal entities, which are not documented as shares, or via reduction of Ukrainian entities' charter capitals or withdrawal from such entities; repatriation of dividends to foreign investors; making payments on the basis of NBU individual licenses (with certain exemptions).
For further information please contact Asters' partner Iryna Pokanay
and counsel Gabriel Aslanian.