Svitlana Teush has been promoted to Partner
10 September 2020

Redcliffe Partners is pleased to announce the promotion to partner of Svitlana Teush, who leads the firm’s Renewable Energy, Real Estate and Construction practices.

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Ukrainian capital markets major reform
19 August 2020

For many years, Ukrainian capital markets have barely functioned due to significant gaps and inconsistencies in the underlying legislation. The new law No. 2284 “On Capital Markets and Organised Commodities Markets” (the “New Law”) which was officially published on 15 August 2020 aims at restarting Ukrainian capital markets. It brings Ukrainian legislation in line with key provisions of the EU laws on capital markets (MiFID II, MiFIR, EMIR, Settlement Finality Directive and Financial Collateral Directive). The New Law creates a framework for dynamic capital markets and commodity markets, and regulates derivatives matters.

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Feed-in tariff mechanism for renewables restructured in Ukraine
22 July 2020

On 21 July 2020, the long-awaited draft law No. 3658 "On the Amendments to Certain Laws of Ukraine on the Improvement of Support for the Production of Electricity from Alternative Energy Sources" (the "Draft Law") was adopted by the Parliament of Ukraine in the second reading. To a large extent, the Draft Law reflects the arrangements set forth in the Memorandum signed between the Government and the market participants. The Draft Law introduces a reduction of the feed-in tariff (the "FiT") and certain other changes in the renewable energy regulatory framework.

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New anti-raiding security mechanisms are now available
17 July 2020

Ukrainian law now offers additional anti-raid protection in respect of a limited liability company (the "LLC"). Specifically, Law of Ukraine "On amending certain legislative acts of Ukraine on combating raiding" No. 340 dated 5 December 2019 (the "Law") has recently come into effect (i.e., the effective date as per the database of the Ukrainian Parliament is 16 July 2020).

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The Memorandum on the reduction of the feed-in tariff signed by the Government and renewable energy industry associations
12 June 2020

On 10 June, the long-awaited Memorandum of Understanding on the Settlement of Problematic Issues of the Ukrainian Renewable Energy Sector (the "MoU") was signed by the Prime Minister of Ukraine, the acting Minister of Energy and representatives of major renewable energy associations UWEA (Ukrainian Wind Energy Association) and EUEA (European-Ukrainian Energy Association).

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Draft Law 1210 introducing significant changes to taxation of cross-border operations is in force
26 May 2020

Following delayed signing and publishing, Law No. 466-IX dated 16 January 2020 "On amendments to the Tax Code of Ukraine related to the improvement of tax administration and elimination of technical and logical inconsistencies in the tax legislation" (the "Law") was officially published and became effective on 23 May 2020.

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New anti-money laundering law will become effective on 28 April 2020
27 April 2020

The Law introduces a new risk-oriented financial monitoring approach similar to EU anti-money laundering standards.

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The Ukrainian Parliament has adopted a law to mitigate the impact on business of anti-epidemic measures
02 April 2020

The Law was signed by the President on 1 April and will become effective after it is published (which is expected to happen imminently).

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Ukraine taking first long-awaited step to open up the agricultural land market
01 April 2020

The Ukrainian Parliament has passed the Law No. 2178-10 (becoming effective from 1 July 2021) introducing certain changes into the Land Code of Ukraine, aiming to lift the existing moratorium in relation to transactions involving agricultural land plots in Ukraine.

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Ukrainian Parliament supports taxpayers for the period of COVID-19 quarantine
17 March 2020

Due to the outbreak of COVID-19, the Ukrainian Parliament adopted Law No 3220 dated 16 March 2020 "On amendments to the Tax Code and other legislation to support taxpayers during the measures preventing spread of COVID-19" ("the Law"). The Law has yet to be signed by the President and will become effective from the day following its official publication.

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