The National Securities and Markets Commission (NSSMC) of Ukraine adopted Decision No. 1053, which reversed almost all restrictions on capital and commodity markets introduced since the beginning of the Russian invasion in large scale.
After our victory, the development of capital and commodity markets could become one of the driving forces for the recovery of the economy and Ukraine as a whole.
Denys Shmigal, Ukrainian Prime Minister
According to him, even before the war, the renewal of the stock exchange was identified as one of the priority initiatives of the government.
“The capital and commodity market unlocking measure is timely and balanced, as market players have confirmed their desire to develop the financial sector,“said the Prime Minister.
Ruslan Magomedov, the head of the financial regulator, noted that during the five months of the war, capital markets and commodity markets operated in manual mode.
The regulator carefully monitored and analyzed the results of each authorized operation. In civilian life, it’s nonsense, but the war dictated the conditions. Thanks to an individual approach and a cautious position, we were able to overcome the panic, preserve assets and prevent defaults on a number of stocks.
Ruslan Magomedov, head of the State Commission for Securities and Stock Markets
The decision comes into effect on August 8 this year, the document says.
According to her, the bans remain in connection with transactions related to natural and legal persons of the Russian Federation and Belarus.
In addition, the settlements of the second part of the REPO operation under REPO agreements concluded before the outbreak of the war, as well as redemption requests of participants in open-ended and interval type collective investment schemes, are only authorized from August 22, and for previous transactions, the authorization of the Commission is required.
As noted, the Verkhovna Rada last week passed 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 relax these restrictions. However, this document has not yet been signed by the president, according to information on the parliament’s website.