June 2023 – Following the outbreak of the full-scale Russian invasion, the National Bank of Ukraine (NBU) implemented temporary restrictions on cross-border foreign currency transactions. These restrictions were outlined in Resolution No. 18 of the NBU Board "On the Operation of the Banking System during the Period of Martial Law" (NBU Resolution No. 18). NBU Resolution No. 18 established an exclusive list of cross-border foreign currency transactions permitted during the martial law period.
In late June 2023, the NBU took significant steps to expand the capacity of Ukrainian businesses to attract and service external loans and borrowings. This newsletter provides an overview of the provisions outlined in NBU Resolution No. 18 concerning the fulfilment of debt obligations of residents to non-resident lenders.
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