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.

Outgoing NATO Secretary General Jens Stoltenberg has secured the unanimous support of NATO country ambassadors for €40 billion (approximately US$43 billion) in lethal and non-lethal military aid to Ukraine in 2025. NATO leadership is expected to approve the agreement during the annual NATO Summit, which will take place July 9-11, 2024 in Washington, DC.

Contributed by Baker McKenzie.

On June 26, 2024, Ukraine’s National Energy and Utilities Regulatory Commission (NEURC) adopted the Resolution "On Approval of Amendments to Certain Resolutions of the NEURC", which introduces special auctions for ancillary services. The Resolution aims to facilitate much-needed investment into energy generating capacity and energy storage units in Ukraine, and will ultimately contribute to better grid balancing in the country.

Schoenherr has advised the Schwarzmueller Group on a partnership with the Krone Group. CMS reportedly advised the Krone Group.

The United States and Ukraine have entered into a 10-year bilateral security agreement (“Security Agreement”), providing a framework for continued US support for Ukraine’s defense and deterrence capabilities, as well as for Ukraine’s economic recovery and reconstruction.

On 18 June 2024, by Order of the Ukrainian National Office for Intellectual Property and Innovations ("UANIPIO") No. 93/2024, the personnel of the Appeals Chamber of the UANIPIO ("Appeals Chamber") was approved. Notwithstanding the challenges associated with the war, the Appeals Chamber has resumed work.

Dentons has advised DRI on the acquisition of a 126-megawatt solar park project in Vacaresti Dambovita county, Romania from local developers. Glodeanu & Partners reportedly advised the sellers.

Inclusion, diversity, and equity (ID&E) are fundamental principles that shape the fabric of modern societies and industries. Within the legal profession, these principles not only reflect our commitment to justice and equality but also drive innovation, foster creativity, and enhance client service. In Central and Eastern Europe (CEE), where the gradual democratization and opening of societies since the 1990s has largely driven greater acceptance of diverse perspectives and communities, it is imperative for lawyers and law firms to take a leading role in advancing ID&E.  In this article, we discuss how investing in inclusion, diversity, and equity can help your firm unleash the full potential of your workforce, foster creativity, and drive sustainable success.

Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 25 million finance package to City Communal Enterprise Mykolayivvodokanal.

Squire Patton Boggs has advised the European Bank for Reconstruction and Development on establishing a renewable energy joint venture company with Goldbeck Solar Investment – Goldbeck Solar Investment Ukraine. CMS advised Goldbeck Solar.

Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 60 million loan to Lan-Oil for the construction of a greenfield and privately-owned biofuels project in Ukraine.

The Cabinet of Ministers of Ukraine issued Resolution No. 650 on "Some Issues with Reservation of Persons Liable for Military Service during Martial Law", dated 5 June 2024 ("Resolution"), which came into force on 8 June 2024.

Since July 1, 2023, Ukraine has been a member of the international automatic exchange of information regarding financial accounts pursuant to the Common Reporting Standard (CRS). The international exchange of information includes 123 countries (as of May 2024).

Dentons has advised Regionala Investiciju Banka on its financing of Farmak. Cuatrecasas reportedly advised Farmak.

Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 20 million equivalent loan to Bank Lviv, signed at the Ukraine Recovery Conference in Berlin.