NBU revokes mandatory letter of credits in payments for imported gas

12:12, 26.11.2015 1 min read

The National Bank of Ukraine (NBU) has revoked the mandatory use of letters of credit in advance payments using foreign currency for imports of natural gas under foreign economic contracts worth over $500,000.

The central bank posted NBU decree No. 812 of November 24, 2015 on amending NBU decree No. 124 of February 23, 2015, on Wednesday.

According to the document, the NBU has expanded the list of vitally important goods under which the conditions of mandatory use of letters of credit do not apply to oil and gas.

The resolution takes effect from the moment of its publication.