Business news from Ukraine

PRESIDENT OF UKRAINE VOLODYMYR ZELENSKY HAS SIGNED A LAW ON SETTLING THE ISSUE OF AMBER PRODUCTION, WHICH THE VERKHOVNA RADA ADOPTED ON DECEMBER 19

1 January , 2020  

According to information on the website of the Verkhovna Rada of Ukraine, on December 27 the document was returned with the signature of the president.
As reported, the Verkhovna Rada adopted as a whole bill No. 2240 on settling the issue of amber extraction, which provides for the introduction of uniform exploration permits with the right to produce amber for a period of five years on plots of up to 10 hectares through ProZorro electronic auctions.
This decision was supported by 279 MPs with the quorum being 226 votes.
According to the bill, access to amber deposits will be regulated by establishing the right of land easements and defining separate Article 971 of the Land Code for exploration and mining on disturbed lands.
In addition, the document introduces criminal liability for illegal mining and administrative liability for violation of mining requirements, as well as toughens liability for non-compliance with land reclamation requirements and the obligation to compensate for losses incurred.

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