Ukraine’s war-torn economy has been severely affected by Russian aggression during the war. Reports indicate that Ukraine’s GDP has dropped by nearly 30% since the invasion. The National Bank of Ukraine (NBU) and the International Monetary Fund project that the country’s economy may not fully recover until 2030 under a baseline scenario. It is vital now to support economic growth…
Read MoreFollowing the russian invasion and the imposition of martial law, the National Bank of Ukraine (NBU) restricted cross-border payments from Ukraine. The NBU has gradually relaxed currency controls to improve Ukraine’s business environment and attract new investments. New Amendments Dividend repatriation and Eurobond payments. The NBU now allows (i) the repatriation of dividends accrued from 1 January 2024, not exceeding…
Read MoreDmytro Fedoruk, Partner at Redcliffe Partners, participated as a representative of Ukraine at the CEE Legal Matters Round Table on Oil & Gas, joining experts from Bulgaria, Croatia, Moldova and Turkey. Moderated by CEE Legal Matters’ Radu Cotarcea, the discussion focused on key developments in the field of oil & gas over the past few years. Dmytro shared insights on…
Read MoreStandard procedure The Phase I review of a merger filing under the standard procedure may take up to 45 calendar days. This period consists of: preview period (15 calendar days), during which the Antimonopoly Committee of Ukraine (the ‘AMC‘) decides whether the filing is: complete and may be accepted for review on substance; or incomplete and should be rejected; review…
Read MoreUkrainian competition law provides that the following transactions, which are recognised as ‘concentrations‘, require prior merger clearance if the jurisdictional thresholds are met: merger of independent undertakings or takeover of one independent undertaking by another; [NB: under Ukrainian merger control rules, ‘mergers’ and ‘takeovers’ have the following meanings: ‘mergers’ – all merging entities cease to exist post-merger, and there is…
Read MoreNotifiability tests in Ukraine A concentration requires a merger clearance before closing if either Test A or Test B below is triggered for the preceding financial year: TEST A (at least two parties have turnover or assets in Ukraine): Ukrainian turnover or assets value of each of at least two parties > EUR 4 million; and combined worldwide turnover or…
Read MoreDuring the two years of full-scale war, Ukraine has experienced a staggering collapse in its exports abroad, reaching a record low for the past decade. Although there is an underlying trend of volume growth, in value terms, exports remain markedly low compared with previous years. The main challenges remain the same: the ongoing hostilities and their impact on production and…
Read MoreRedcliffe Partners Partner and Co-Head of Energy Albert Sych, talks about the evolution of the energy market and their role as legal advisors in Ukraine over the last 10 years in an Interview for CEE Legal Matters. CEELM: What types of energy projects have dominated your team’s workload in the last 10 years, and how has this focus changed over…
Read MoreSince the war began in 2022, Ukraine’s economy has suffered its biggest losses since independence, among other problems. All participants in the financial sector have experienced severe damage. The National Bank of Ukraine (“NBU”) imposed a moratorium on cross-border payments to resolve the situation and adapt to the current environment to the extent possible. As the situation improved over time…
Read MoreUkrnafta, the leading Ukrainian oil & gas company, invites international investment and production companies to participate in the joint development of 21 fields, being 10 deposits in western Ukraine and 11 in eastern Ukraine, representing proven and probable reserves of 12 million tonnes of oil and over 31 billion cubic metres of gas. This opens up a significant investment opportunity in…
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