Flags of Ukraine fly in front of the EU Parliament building on the first anniversary of the Russian invasion, in Brussels, Belgium February 24, 2023. REUTERS/Yves Herman/File Photo Purchase Licensing Rights BRUSSELS, June 6 (Reuters) - The Group of Seven countries and the European Union are considering how to use profits generated by Russian assets immobilised in … Continue reading How G7 and EU plan to use Russia’s frozen assets to help Ukraine
Ukraine’s Economic Recovery: Remarks and a Conversation with Penny Pritzker
SpeakerPenny PritzkerU.S. Special Representative for Ukraine’s Economic Recovery; Former U.S. Secretary of Commerce; CFR Member U.S. Special Representative Penny Pritzker discusses ongoing Ukraine recovery and reconstruction efforts, having just returned from three trips to Ukraine in six weeks, including joining the Secretary of State in mid-May. She will also outline U.S. priorities for supporting Ukraine in … Continue reading Ukraine’s Economic Recovery: Remarks and a Conversation with Penny Pritzker
A commentary on potential reparations claims arising from the Russia-Ukraine conflict
During Paris Arbitration Week, HKA hosted a panel that considered the options for compensation for damages loss or injury open to victims of Russia’s invasion of Ukraine. The panel was timely as the Register for Damage for Ukraine (“the Register” or “RD4U”) was on the point of opening (and now has opened) for the receipt … Continue reading A commentary on potential reparations claims arising from the Russia-Ukraine conflict
Post-release: EBA Odesa Business Talks: Recovery Ukraine. Recovery projects in the South of Ukraine
On 23 May, the Southern Ukrainian Office of the European Business Association in partnership with Interlegal held a Business Talk on an urgent and extremely important for the Ukrainian business community topic – "Recovery Ukraine. Reconstruction projects in the South of Ukraine". The panel of speakers included CEOs of leading agricultural and logistics companies from … Continue reading Post-release: EBA Odesa Business Talks: Recovery Ukraine. Recovery projects in the South of Ukraine
Estonia is the first country in the world which adopted a law on the use of frozen Russian assets in favor of Ukraine
The Estonian Parliament (the Riigikogu) adopted a law that allows using the frozen assets of Russian natural persons in order to reimburse losses caused to Ukraine by the war. 65 members of the Riigikogu voted in favour, while three members voted against, as reported on the website of the Estonian parliament. Creation of a legal … Continue reading Estonia is the first country in the world which adopted a law on the use of frozen Russian assets in favor of Ukraine
Defense and restoration of Ukraine: the EU reached an agreement on use of Russian assets
The European Union managed to reach a consensus regarding frozen Russian assets. Funds will be remitted for the purpose of defense and restoration of Ukraine which suffered from the Russian hostilities and regular shelling, as reported by L’Echo with reference to notes by Valérie Ubren, CEO of the Belgian depository. She highlighted that a decision … Continue reading Defense and restoration of Ukraine: the EU reached an agreement on use of Russian assets
THE NATIONAL BANK OF UKRAINE HAS EASED FOREIGN CURRENCY RESTRICTIONS FOR BUSINESSES
In early May 2024, the National Bank of Ukraine (NBU) announced a new wave of foreign currency liberalization measures, the most extensive since the commencement of full-scale invasion on 24 February 2024. The new package of amendments, introduced by the NBU Resolution No.56 dated 3 May 2024 (Resolution No.56), which entered into force on 4 … Continue reading THE NATIONAL BANK OF UKRAINE HAS EASED FOREIGN CURRENCY RESTRICTIONS FOR BUSINESSES
Shmyhal announced the cancellation of restrictions on the import of business services being valid since the outbreak of the war
The Cabinet of Ministers canceled the resolution on restrictions of import of business services. Previously, the National Bank of Ukraine adopted a similar decision, as announced by Prime Minister Denys Shmyhal during the government meeting. He said: “We are canceling Resolution of the Cabinet of Ministers No. 153 which limited payments for the import of … Continue reading Shmyhal announced the cancellation of restrictions on the import of business services being valid since the outbreak of the war
The Government Approves the Procedure for Using Funds to Support Investment Projects with Significant Investments
The Procedure for Using Funds from the State Budget to provide State Support for the Implementation of Investment Projects involving Significant Investments was adopted at the session of the Cabinet of Ministers of Ukraine on 26 April 2024. Conditions for receiving State Support The total amount of state support can be up to 30% of the … Continue reading The Government Approves the Procedure for Using Funds to Support Investment Projects with Significant Investments
The REPO Act: How Will Russia Respond?
On April 24, President Biden signed the Rebuilding Economic Prosperity and Opportunity for Ukrainians (REPO) Act, which allows the President to seize Russian sovereign assets in the United States and use them for Ukrainian reconstruction. Not surprisingly, the Russian government reacted immediately, promising to challenge REPO in court and threatening to retaliate against US assets … Continue reading The REPO Act: How Will Russia Respond?