National Bank bans investments in occupied Crimea

The National Bank of Ukraine bans Ukrainians to invest in objects of investment activities, located on the temporary occupied territory of the free economic zone Crimea.
This is said in the NBU resolution No. 699 “On the use of some norms of currency legislation during a regime of temporary occupation of the territory of the free economic area Crimea” of November 3, 2014, which is published on the regulator’s website.
“Investments of residents in objects of investment activities, located (registered) on the territory of Crimea, are banned,” the resolution reads.
At the same time, money transfers of payments from mainland Ukraine to the territory of Crimea or from the territory of the peninsula to mainland Ukraine are carried out in the procedure, envisaged by normative-legal acts of the National Bank for operations on transfer of funds outside Ukraine or to Ukraine.
As reported by Ukrinform, the NBU equated natural and legal persons, registered and permanently residing on the territory of the free economic area Crimea, to non-residents.

Avatar photo

News and Summaries

Submit a Comment

Your email address will not be published.

Share This

Share this post with your friends!