NBU abolishes some currency restrictions for business

Though this will undoubtedly be hidden amongst gas news and reporting from the front lines - somewhat earlier that expected, the National Bank of Ukraine has abolished some of its temporary restrictions on foreign currency.

In short, with effect from 3rd November, the following temporary restrictions are lifted previously imposed under Resolution 591.

“transactions undertaken in foreign currency during import operations - without the importation of the goods onto the territory of Ukraine, and

· payments under import contracts under which the product was imported more than 180 days beforehand onto the territory of Ukraine.”

A step in the right direction to be sure.