Advertising Law Amendments regarding Indication of Price in Hryvnias

On 6 November 2012 the Parliament adopted the Amendments to Article 8 of the Law on Advertising (the "Law"), which should be signed by the President to become effective.

The Law establishes that prices of goods and services in advertisements placed within the territory of Ukraine should be indicated only in Ukrainian national currency - Hryvnia.

No specific sanctions for violation of this rule are set forth. General liability (fine in the amount of 5-times cost of advertising) would apply.

The Law was adopted to stabilize the national currency and limit the usage of the foreign currency (e.g., Euro and US Dollars) as a measure of goods/services value.

For further information please contact partner Oleksandr Padalka
and senior associate Illya Onyschenko