NBU eases conditions for receiving financial assistance

The National Bank of Ukraine (NBU) is introducing new rules aimed at easing restrictions for individuals and businesses. According to the NBU Board Resolution No. 195 "On Amendments to the Resolution of the Board of the National Bank of Ukraine No. 18 dated February 24, 2022" dated December 28, 2023, these changes are aimed at facilitating the receipt of financial assistance by citizens, expanding opportunities in the electricity sector and protecting the rights of foreigners in the medical field in Ukraine.

According to the NBU press service, a number of significant changes will come into force on December 29, 2023. The first of them allows payment service providers to pay financial assistance to citizens affected by the war on the basis of a Certificate of Submission of Documents for Issuance of a Passport of a Citizen of Ukraine. This will simplify the process of obtaining assistance from international humanitarian organizations and non-governmental institutions.

The second important change allows Ukraine's electricity transmission system operator (NPC Ukrenergo) to transfer funds to the Joint Allocation Office (JAO), the European office for the allocation of cross-border crossing capacity. This is intended to facilitate coordination of capacity allocation and ensure stable exports and imports of electricity.

In addition, the list of exceptions to the ban on expenditure transactions on the accounts of residents of the Russian Federation and the Republic of Belarus has been expanded. This now applies to payments for medical services in healthcare facilities for legal foreigners staying in Ukraine.

These changes open up new opportunities for individuals and businesses, facilitating access to financial resources and the development of key sectors of the economy.