Business news from Ukraine

UKRAINE APPROVES POWERS OF NOTARIES WHEN CERTIFYING REAL ESTATE TRANSACTIONS DURING MARTIAL LAW

The Cabinet of Ministers of Ukraine has approved the powers of notaries in certifying real estate transactions during martial law, the press service of the Ministry of Justice reported.
According to the relevant resolution of the Cabinet of Ministers, notarial certification of contracts on real estate transactions is allowed only to those notaries who were included in the relevant list of persons who are allowed to carry out notarial acts in relation to valuable property during martial law.
In addition, such actions are prohibited for notaries whose workplace is located in territories where access to unified and state registers has been terminated, in particular, in the temporarily occupied territories of Ukraine.
It is also prohibited to sell real estate within one month from the date of state registration of ownership, as well as real estate transactions by proxy.
Certification of contracts for the sale of real estate, mortgages, trusts is allowed only at the location of the property. At the same time, in Kyiv and the Kyiv region, notarial actions with real estate are allowed only for local notaries, if the property or legal entity is located in this territory, or at the registered place of residence of an individual – one of the parties to the agreement.
Such conditions will be in effect during martial law for one month after, the Ministry of Justice notes.

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CABINET OF MINISTERS OF UKRAINE APPROVES POWERS OF NOTARIES FOR REAL ESTATE TRANSACTIONS DURING MARTIAL LAW

The Cabinet of Ministers of Ukraine has approved the powers of notaries in certifying real estate transactions during martial law, the press service of the Ministry of Justice reported.
According to the relevant resolution of the Cabinet of Ministers, notarial certification of contracts on real estate transactions is allowed only to those notaries who were included in the relevant list of persons who are allowed to carry out notarial acts in relation to valuable property during martial law.
In addition, such actions are prohibited for notaries whose workplace is located in territories where access to unified and state registers has been terminated, in particular, in the temporarily occupied territories of Ukraine.
It is also prohibited to sell real estate within one month from the date of state registration of ownership, as well as real estate transactions by proxy.
Certification of contracts for the sale of real estate, mortgages, trusts is allowed only at the location of the property. At the same time, in Kyiv and the Kyiv region, notarial actions with real estate are allowed only for local notaries, if the property or legal entity is located in this territory, or at the registered place of residence of an individual – one of the parties to the agreement.
Such conditions will be in effect during martial law for one month after, the Ministry of Justice notes.

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THE FIFTH PACKAGE OF EU SANCTIONS INCLUDES BAN ON IMPORT OF RUSSIAN COAL AND ON TRANSACTIONS WITH 4 BANKS

The President of the European Commission (EC), Ursula von der Leyen, announced on Tuesday proposals for new sanctions of the EU’s fifth package against Russia.
“The ban on coal imports from Russia worth 4 billion euros per year, which cuts another important source of income for Russia. A complete ban on transactions with four key Russian banks, including VTB, the second largest Russian bank,” the report said. statement of the head of the EC, published on Twitter.

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TRANSACTIONS WITH PAYMENT CARDS OF UKRAINIAN BANKS UP BY 24.5%

The total number of transactions (noncash and cash) using payment cards issued by Ukrainian banks amounted to 1.385 billion units, and their amount was UAH 920.5 billion in January-March 2020, which is 24.5% and 15.6%, respectively, more than in the same period of 2019, according to the data of the National Bank of Ukraine (NBU), released on its website on Thursday, May 21.
According to the data, noncash transactions prevailed in both quantity and amount, for example, Ukrainians carried out 1.183 billion noncash transactions (85.4% of the total) for a total of UAH 503 billion (54.6% of the total).
The regulator said that in the first quarter, the largest number of transactions using cards accounted for settlements in retail chains, namely 50.3%, however, person-to-person transfers prevailed by the amount of 41.3%, the average size of which was UAH 1,505.
The NBU said that the total number of issued payment cards in Ukraine as of April 1, 2020 reached 68.6 million. However, in March all expenditure transactions were carried out using 53.4% of all payment cards, in February with use of 53%, in January with use of 53.2% payment cards.
The regulator said that from January, banks began to report to the NBU monthly, whereas earlier they did it on a quarterly basis, and therefore, active payment cards were also calculated every month, however, comparison with last years’ indicators became impossible.
According to the NBU, a third, or 11.3 million of payment cards that were used for expenses in March were either contactless or tokenized.
Thus, in March 8.9 million contactless payment cards and almost 2.5 million tokenized ones were used for transactions, which is 16% and 11.2% more than in January 2020.
The regulator said that nine out of ten (90.2%) of trading POS terminals provide contactless payment, whereas eight out of ten were contactless in 2019. When compared with the beginning of 2020, there is a 0.7% decrease in the number of working trading POS terminals due to lockdown restrictions introduced in March.
According to the NBU, the number of payment terminals in the trading network per one million of permanent residents as of April 1, 2020 amounted to 8,300.
“The regional distribution of the terminal network in Ukraine is quite irregular. The smallest number of payment devices per an inhabitant is observed in the west of the country and in Luhansk and Donetsk regions,” the regulator said, adding that Kyiv city and Kyiv, Dnipropetrovsk and Kharkiv regions prevail in the number of payment cards and payment devices.
Thus, as of April 1, 2020, some 70 participants of card payment systems were registered in Ukraine.

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