President Petro Poroshenko of Ukraine has promised that all the revenues received as part of the implementation of the law on customs clearance of cars with foreign registration will be transferred to the Pension Fund.

"Important is for every kopeck [UAH 0.01] that is to be paid by [Ukrainian] owners of cars with foreign registration to be transferred to the Pension Fund so that it could reach Ukrainian pensioners and the Fund would be able to raise pensions for those who are getting minimum ones," Poroshenko said at a meeting with students of the Kyiv National University of Trade and Economics in Kyiv on November 23.

He said it will be fair because it is pensioners in Ukraine who are the first in line to receive social protection.

As reported earlier, President Petro Poroshenko of Ukraine has signed bills No. 8487 and No. 8488 on the customs clearance of cars with EU number plates.

The signed documents, in particular, specify that the fees received from the customs clearance of such cars will be used to cover the deficit of the Pension Fund so that pensions could be raised and those receiving minimum pensions would be able to continue to do so.

He said that the adoption of those laws was "not an easy compromise between the state and the actual owners of those cars."