Business proposing to provide opportunity to buy out Russians' shares in companies, introduce mechanism for exemptions from sanctions

Participants of the third annual conference dubbed "Ukrainian Business with Russian and Sanctioned Owners: Status, Challenges, Solutions" called for updated approaches to regulating businesses associated with the aggressor country, according to the website of the Ministry of Economy, Environment, and Agriculture of Ukraine.

According to the report, the key issue of the discussion was improving Cabinet of Ministers Resolution No. 187, which has restricted interaction with Russian capital for over four years. Specifically, businesses proposed amending the document to allow Ukrainian companies to legally purchase or otherwise remove Russian stakes (currently at a threshold of 10%) from the ownership structure. Currently, businesses lack a mechanism for such "self-clearance," which leads to the blocking of economic activity and legal uncertainty.

Furthermore, experts and government officials discussed the need to develop a comprehensive law on interactions with entities linked to the Russian Federation, as well as the introduction of "regulated permits" (exceptions) instruments. Such mechanisms are aimed at exempting enterprises that are effectively independent of sanctioned beneficiaries from restrictions, providing them with access to public procurement, permits, and foreign economic activity.