NBU removes payment for imports of travel, transport, communications services from currency restrictions imposed

The National Bank of Ukraine (NBU) has removed payment for imports of travel, transport and communications services from the ban on payments using foreign currency under imports transactions without taking goods to the territory of Ukraine imposed from September 23, 2014.

"The requirement of subparagraph 14 of paragraph 1 of resolution No. 540 does not apply to payments with nonresidents under the following transactions: payment for travel, transport and communications services by residents if they have the relevant licenses (permits) and payment for transport services residents-shipping agents," read the explanations of the NBU sent to banks in letter No. 29-209/53878.

In addition, according to the letter, the ban on carrying out transactions in foreign currency to pay for imports transactions without taking goods to the territory of Ukraine does not apply to payment of own liabilities by banks linked to the payment of funds to banks-correspondents, international communications systems, including Reuters, Swift and Bloomberg news agencies for the use of their services and the payment of own liabilities by banks-members of the international payment systems linked to the organization and settling of payments using the said payment systems.

As reported, the NBU from September 23 restricted the sale of foreign currency to UAH 3,000 per capita a day at one bank.

In addition, the NBU banned currency payments for imports without taking goods to the territory of Ukraine and currency payments under imports agreements, under which products were taken to Ukraine and the date of the customs clearance declaration for which exceeds 180 days.

The NBU also banned currency transactions on returning abroad funds received by foreign investors under transactions on the sale of securities of Ukrainian issuers outside stock exchanges, apart from the government bonds of Ukraine.

The return of funds in foreign currency received by foreign investors under transactions on the sale of corporate rights of companies which are not registered with shares is banned.

The NBU banned the return of dividends to foreign investors abroad, apart from cases of returning dividends on securities circulating on stock exchanges.

The central bank expects that the said temporary measures will allow stabilizing the situation on the currency market this week, but the bank does not rule that that new anti-crisis tools will be used if the result is weak.