A summary of recent legislative developments in the fields of energy and natural resources in Ukraine.

On 11 July 2024, new foreign currency (“FX”) easings came into effect to increase Ukraine's investment attractiveness and raise private foreign capital. Specifically, the latest package of amendments, introduced by Resolution No. 83 of the National Bank of Ukraine (the “NBU”) dated 09 July 2024 (“Resolution No. 83”), includes the following FX liberalization measures.

On 25 April 2024, Ukrainian Parliament adopted the Law of Ukraine “On Amendments to the Labour Code of Ukraine on Establishing Additional Grounds for Termination of Employment Agreement at the Initiative of the Employer and Certain Other Issues” (the “Law”), which is aimed at strengthening the protection of Ukraine's national security.

The National Commission for State Regulation of Energy and Public Utilities (NEURC) issued Resolution No. 1172 on 26 June 2024 "On Approval of Amendments to Certain NEURC Resolutions. This resolution allows for the signing of five-year agreements in the ancillary services market by introducing special auctions.

On 5 June 2024, the Cabinet of Ministers of Ukraine adopted Resolution No. 650 (hereinafter referred to as “Resolution No. 650”), which approves the Procedure for Reservation of Persons Liable for Military Service during Martial Law by means of the Unified State Web Portal of Electronic Services (hereinafter referred to as “Portal Diia”).

On 1 May 2024, the Ministry of Energy of Ukraine's Order No.136 as of 1 April 2024, came into effect, cancelling Order No.206 as of 15 June 2022. This change has significant implications for the renewable energy sector in Ukraine, as detailed below.

On 25 April 2024, Ukrainian Parliament adopted the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine Regarding the Regulation of Labour of Domestic Workers”, which introduces regulation of labour relations with domestic workers. The Law supplements the Labour Code of Ukraine (the “Labour Code”) with a new Chapter "Labor of Domestic Workers".

The International Arbitration and Cross-Border Litigation practice has taken center stage for Asters in Ukraine according to Co-Managing Partner Oleksiy Didkovskiy, with work driven by the war and the pandemic and a focus on state and quasi-state clients.

Asters has successfully defended PrivatBank in a dispute over the title to Pryozernyi, a shopping mall in Dnipro with a total area of more than 32,000 square meters.

On 15 May 2024, the Law of Ukraine “On amendments to the Labour Code of Ukraine on employment relations in case of business entity transfer” entered into force. The new Law establishes additional guarantees to employees in the event of business transfer. The Law aims at approximation of the national legislation to the Transfers of Undertakings Directive 2001/23/EC of 12 March 2001.

Asters, working with Kellerhals Carrard, has successfully represented the interests of FC Metalist LLC, based in Kharkiv, before the Court of Arbitration for Sport in Lausanne in a case concerning the issue of sports succession and a related claim brought by a former player of FC Metalist PJSC, the football club that has been in liquidation since 2017 due to bankruptcy.

The post-war reconstruction of Ukraine is an immense challenge that necessitates mobilization of substantial resources. During a United Nations Security Council meeting in November of the previous year, the approximate cost of the country's reconstruction and rehabilitation was estimated at $400 billion. Acknowledging the impossibility of covering such expenses solely through state funds and international aid, Ukraine is placing emphasis on enhancing collaboration with the private sector. Among the various forms and mechanisms for securing resources required for rebuilding of the destroyed infrastructure, public-private partnership (PPP) stands out as one of the most widely debated.

On 27 April 2024, the Ministry of Defence of Ukraine adopted Order No.262 (the ''Order'') which amended Order No.402 ''Regulations on Military Medical Expertise in the Armed Forces of Ukraine'' dated 14 August 2008.

Asters, working with Heuking, has advised Ukraine's Shakhtar Donetsk football club on organizing its home matches during the UEFA Champions League and Europa League competitions in Hamburg, Germany, as a guest of the Hamburger SV football club.

Did you know that, according to the Activity Rankings function of the CEELMDirect website, of the 88 law firm partners who have reported working on disputes in CEE over the past 12 months, only nine have reported working on more than one?

On 22 March 2024, the Cabinet of Ministers of Ukraine adopted Resolution No. 331, which amended the process of adoption and placement of children into other forms of family care.

On 27 February 2024, the Cabinet of Ministers of Ukraine approved the Procedure for Issuing, Circulating and Redeeming Guarantees of Origin for Electricity Generated from Renewable Energy Sources and the Procedure for Determining the Environmental Value of Electricity Generated from Renewable Energy Sources.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.