Business news from Ukraine

From August 8, all previously introduced restrictions on the capital market will be lifted in Ukraine

The National Securities and Stock Market Commission (NSSMC) on Thursday adopted Decision No. 1053, which canceled almost all restrictions on capital and commodity markets introduced since the start of the full-scale Russian invasion.
“The step to unblock the capital and commodity markets is timely and balanced, because market participants have confirmed their readiness for the development of the financial sector,” Prime Minister Denys Shmigal said in a statement from the National Securities and Stock Market.
According to him, even before the war, the renewal of the stock market was identified as one of the government’s priority initiatives.
“After our victory, the development of capital markets and commodity markets may become one of the drivers for the recovery of the economy and Ukraine as a whole,” the prime minister said.
Ruslan Magomedov, the head of the National Securities and Stock Market Commission, noted that during the five months of the war, the capital markets and commodity markets worked in manual mode.
“The regulator carefully monitored and analyzed the results of each authorized operation. In civilian life, this is nonsense, but the war dictated its conditions. Thanks to an individual approach and a prudent position, we were able to overcome panic, preserve assets and prevent defaults on a number of securities,” he said. head of the regulator.
The decision comes into force on August 8 this year, the document states.
According to it, the bans remain in relation to transactions related to individuals and legal entities of the Russian Federation and Belarus.
In addition, settlements on the second part of the REPO operation under REPO agreements concluded before the start of the war, as well as applications for redemption from participants in joint investment institutions of open and interval type, are allowed only from August 22, and for earlier transactions, permission from the Commission is required.
As reported, the Verkhovna Rada last week adopted a law “on the specifics of the activities of the financial sector in connection with the introduction of martial law in Ukraine” (No. 7465-1), which makes it possible to ease these restrictions. However, this document has not yet been signed by the president, according to the information on the website of the parliament.

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THERE WILL BE NO SEASONAL RESTRICTIONS ON TRANSPORTATION FOR TRUCKS WEIGHING UP TO 40 TONS THIS SUMMER

This summer, the State Agency for Highways of Ukraine (Ukravtodor) does not introduce seasonal restrictions for trucks with a total weight of up to 40 tons during the daytime at elevated air temperatures.
According to the agency on its Facebook page on Tuesday, this decision was made primarily due to the war in the country, the reorientation of exports to the road network and significant changes in logistics.
“Before the full-scale invasion of Russia, Ukraine exported mainly by sea. Now, due to the blocking of ports, the country has redirected the flow of goods to rail and road. We understand the importance of logistics today, therefore, in order to avoid interruptions in the transportation of vital goods, seasonal restrictions are not introduced this year” , the ministry said in a statement.
At the same time, Ukravtodor reminds drivers and carriers that the movement of trucks must be carried out in compliance with weight parameters both in terms of total mass and axle load at any time of the day. According to the norms, the maximum weight of a cargo vehicle for transportation on the roads of the country is 40 tons.

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AUSTRIA LIFTED ALL CORONAVIRUS-RELATED TRAVEL RESTRICTIONS TODAY

From May 16, Austria removes all coronavirus-related restrictions for foreign tourists, they will no longer need to present a vaccination certificate, a certificate of illness or a test upon entry, the country’s official tourism portal reports.
The so-called 3-G rule (presence of vaccination, certificate of past illness or negative test) is removed from May 16 for those entering Austria from all countries.
Since April 16, many “covid” restrictions have been lifted in Austria. Thus, a vaccination certificate, masks and tests are not required to enter most public places, restaurants, bars and museums. The requirement to wear masks at all times has also been lifted, but they remain mandatory in hospitals, supermarkets and public transport.

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MALTA AND UKRAINE LIFT RESTRICTIONS ON FLIGHTS

The Ministry of Infrastructure of Ukraine and the Ministry of Transport of the Republic of Malta have agreed on the mutual lifting of restrictions on regular air traffic between the two states.
The agreement, in particular, provides for the removal of restrictions on: the number of designated airlines, points of departure/destination in the territories of both countries, the number of flights with regular air traffic, the Ministry of Infrastructure reported on Facebook.
The new agreement is expected to increase the number of flights between the countries, as well as positively affect the cost of air tickets.
The ministry also recalled that in October Ukraine and the EU are planning to sign the agreement on Common Aviation Area (ECAA). Thanks to this, Ukraine will fully enter the common airspace of the EU, and the practical result of the agreement will be to expand the geography of flights and reduce the cost of tickets.
Earlier, executive director of the Irish airline Ryanair Michael O’Leary said that the company is planning an aggressive expansion in Ukraine after joining the EU Open Skies Agreement. According to him, Ryanair expects to operate flights from 12 airports in the country, which are already technically ready.

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UKRAINIAN MANUFACTURERS INITIATE RESTRICTIONS ON IMPORT OF SULFURIC ACID AND OLEUM

The Interdepartmental Commission on International Trade on August 5 made a decision to revise special measures that are coming to completion – quotas in relation to the import of sulfuric acid and oleum to Ukraine (foreign economic activity code 2807 00 00 00).
According to the commission’s publication in the Uriadovy Kurier government newspaper, the initiators of extension of the special measures were Skhidny (Eastern) Ore Mining and Processing Plant, PJSC Sumykhimprom, Scientific and Production Enterprise Zorya and First Chemical Association.
“The commission found that the appeal contains enough information indicating that the use of special measures had a positive effect on the applicants’ activities, but did not completely eliminate the consequences of the harm caused to them, the appeal provides enough information indicating that the applicants may be in the process of adapting to conditions of competition,” the report says.
The Ministry of Economy has been entrusted with the revision of the restrictions, and it carries out the registration of interested parties by August 13.
As reported, in the summer of 2018, the commission introduced quotas for these products for three years. For the first year, the import quota for sulfuric acid and oleum from Belarus amounted to 30,800 tonnes, Russia – 8,600 tonnes, other countries – 4,300 tonnes. In the second year, quotas were increased, respectively, to 32,300 tonnes, 9,100 tonnes and 4,500 tonnes, in the third year – to 33,900 tonnes, 9,500 tonnes and 4,800 tonnes.
The special measures do not apply to imports from about 50 countries, including Kazakhstan.
A number of Ukrainian metallurgical companies opposed the introduction of restrictions on the import of sulfuric acid, while chemical enterprises insisted on their introduction.

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UKRAINIAN CITIZENS CAN CROSS UKRAINIAN-HUNGARIAN BORDER WITHOUT COVID RESTRICTIONS

From August 7, 2021, citizens of Ukraine can cross the Ukrainian-Hungarian border without restrictions imposed in connection with the spread of the coronavirus (COVID-19) disease.
According to the State Border Guard Service of Ukraine, for the entry of citizens into Hungary, the requirements determined by the Schengen Borders Code (biometric passport/visa, medical insurance valid in Europe, financial security) remain.
“An exception is entry into Hungary by air, in particular it additionally requires a negative PCR test result for COVID-19, a test should be made no later than 72 hours at the time of entry, or a Ukrainian or Hungarian vaccination certificate [together with citizens who have a certificate, children under 18 can also enter without restrictions],” the report said.
For transit through the country, representatives of the Hungarian border authority may additionally require documents confirming the right to enter the country of destination (depending on the requirements of a particular country: residence permit, work visa, hotel booking, virus test results, etc.).
The service also recalled that the Hungarian competent authorities, in accordance with the current legislation, impose administrative fines on foreigners who have exceeded the permitted period of stay in the Schengen countries before the introduction of quarantine measures by these countries (a fine from 5,000 to 50,000 forints/$15-150).
If the period of stay in the countries of the Schengen zone has ended after the introduction of quarantine measures by these countries in order to avoid a fine, citizens who cross the Hungarian border must documentary proof to the Hungarian competent authorities that they were in quarantine, or that documents for the extension of the permit period have been submitted to the relevant authority, etc. (there must be a document from an official body).
At the same time, each case is subject to careful scrutiny and is considered on an individual basis.

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