Currency Control Amendments

The amendments, made to the NBU Resolution No. 540 dated 29 August 2014 (effective until 2 December 2014 inclusively), are as follows:

• The limit on precious metals that a banking institution may sell to an individual per business day is restricted to the equivalent of UAH 3,000.
• The limit on precious metals that may be withdrawn from a customer’s account is restricted to a maximum of UAH 15,000 per business day per customer.
• The ban on making payments under import contracts more than 180 days after the respective goods are imported into Ukraine and cleared by customs does not apply to:  
  • Transactions of agricultural producers
  • Transactions involving foreign export credit agencies, and
  • Transactions under credit letters issued before this Decree entered into force.
• The ban on settling import transactions not involving the import of goods onto Ukrainian territory does not apply to settlements with non-residents with respect to:
  • Tourism, transport, and communication services;
  • Operating costs for transport vehicles making trips outside of Ukraine;
  • Services associated with the operation of air transport infrastructure;
  • Agency and chartering services associated with merchant fleets;
  • A bank’s obligations to correspondent banks, international communication systems, information agencies;
  • A bank’s obligations to international payment systems;
  • Transfers of donations to charitable organizations and any transfers made by the Ukraine Ministry of Health abroad to pay for the treatment of individuals.

The NBU Resolution No. 626 dated 3 October 2014 is effective from 4 October 2014.