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NBU Eases FX Restrictions for Households and Businesses

NBU Eases FX Restrictions for Households and Businesses

The National Bank of Ukraine has eased a number of restrictions for households and businesses to make it easier for Ukrainians to receive financial assistance, increase opportunities for electricity exports and imports, and ensure that foreigners' rights to healthcare in Ukraine are respected.

Starting from 29 December 2023: 

  • payment service providers will be able to pay out financial assistance from international humanitarian organizations and other non-government institutions to Ukrainians affected by the full-scale war based on a Certificate of Submission of Documents for Issuance of a Passport of a Citizen of Ukraine. The amendments apply to cash payments in hryvnia.

Previously, a person could only receive financial assistance based on a passport of a citizen of Ukraine or other identification document that certifies their identity and can be used in Ukraine to enter into agreements.

  • Ukrainian transmission system operator (NPC Ukrenergo) is authorized to transfer funds in favor of the European office for the cross-border capacity allocation Joint Allocation Office (JAO) for the joint coordinated cross-border capacity allocation.

The respective amendments will help to secure sufficient electricity imports in case Ukraine's energy infrastructure is damaged as a result of russian attacks, as well as electricity exports in case of its surplus in Ukraine.

  • The NBU has expanded the list of exceptions to the ban on debit transactions on accounts of residents of the russian federation or the republic of belarus who legally reside in Ukraine, and transactions to pay for medical services in healthcare facilities.

The relevant changes were introduced by NBU Board Resolution No. 195 On Amendments to NBU Board Resolution No. 18 dated 24 February 2023, dated 28 December 2022, and effective 29 December 2023.

For reference

Information on assistance from international organizations to people affected by russia's full-scale invasion of Ukraine is available on the government portal.

 

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