The European Commission has commenced an official screening of Ukraine's legislation concerning Chapter 4 negotiations on "Freedom of Movement of Capital," as reported by RBC-Ukraine citing the NBU press service.
According to the press service, the screening involves analyzing the national legislation of the candidate country for EU accession and its alignment with EU law.
Under this negotiating chapter, the conformity of Ukrainian legislation to the following areas of EU law is being assessed:
• Freedom of movement of capital and payments
• Payment systems
• Counteraction to money laundering and terrorist financing
The screening process consists of two stages:
• Explanatory meetings, during which representatives of the European Commission explain key EU legislation and address questions from candidate countries.
• Bilateral meetings, where the candidate country presents an assessment of the alignment of its national legislation with EU law and outlines plans for further implementation of EU legislation to achieve EU membership.
