All restrictions on the capital market will be lifted in Ukraine, from August 8

The National Securities and Stock Market Commission (NSSMC) of Ukraine adopted Decision No. 1053, which canceled almost all restrictions on capital and commodity markets introduced since the start of the full-scale Russian invasion.

After our victory, the development of capital markets and commodity markets may become one of the drivers for the recovery of the economy and Ukraine as a whole.

Denys Shmigal, Prime Minister of Ukraine

According to him, even before the war, the renewal of the stock market was identified as one of the government’s priority initiatives.

The step to unblock the capital and commodity markets is timely and balanced, because market participants have confirmed their readiness for the development of the financial sector,” said the Prime Minister.

Ruslan Magomedov, the head of the financial regulator, noted that during the five months of the war, the capital markets and commodity markets worked in manual mode.

The regulator carefully monitored and analyzed the results of each authorized operation. In civilian life, this is nonsense, but the war dictated its conditions. Thanks to an individual approach and a prudent position, we were able to overcome panic, preserve assets and prevent defaults on a number of securities.

Ruslan Magomedov, head of the National Securities and Stock Market Commission

The decision comes into force on August 8 this year, the document states.

According to it, the bans remain in relation to transactions related to individuals and legal entities of the Russian Federation and Belarus.

In addition, settlements on the second part of the REPO operation under REPO agreements concluded before the start of the war, as well as applications for redemption from participants in joint investment institutions of open and interval type, are allowed only from August 22, and for earlier transactions, permission from the Commission is required.

As reported, the Verkhovna Rada last week adopted a law “on the specifics of the activities of the financial sector in connection with the introduction of martial law in Ukraine” (No. 7465-1), which makes it possible to ease these restrictions. However, this document has not yet been signed by the president, according to the information on the website of the parliament.

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