EBA Ukraine bulletin dedicated to the martial law (28/11)
On 26 November 2018, the Parliament of Ukraine approved the Presidential Decree on imposition of martial law (No393). The decision affects exclusively 10 regions of Ukraine located on the Russian border, the border with the Russian-controlled Transnistria region of Moldova and oblasts located by the Black and Azov seas, namely: Vinnytsia, Luhansk, Mykolayiv, Odesa, Sumy, Kharkiv, Chernihiv, Donetsk, Zaporizhzhia, Kherson, and inland waters of Ukraine in the Azov-Kerch water area. The term of martial law is limited to 30 days –from 26 November until 26 December 2018.
Temporary limitations of constitutional rights and freedoms prescribed by articles 30-34, 38, 39, 41-44, and 53 of the Constitution of Ukraine, as well as temporary limitations of legal entities’ rights and interests may be imposed, but only to the extent required to implement measures fixed in the article 8 of the Law of Ukraine on legal regime of martial law. At this moment, no limitations are effective. Furthermore, the President of Ukraine emphasized that any restrictions will be imposed only in the event of a Russian ground military aggression.
According to the official statement published on the web site of the Ministry of Economic Development and Trade of Ukraine (Ministry) currently there are no restrictions on economic activity throughout Ukraine. It means that business entities and citizens can proceed with their economic operations in the normal mode. In any way, the Ministry will promptly report any changes in this regard.
According to the Governor of the National Bank of Ukraine (NBU) Mr. Yakiv Smoliy, at present there are no risks to ongoing normal activity in the banking sector. The current liquidity of the Ukrainian banking sector is about 75 bln UAH, which is sufficient for stable functioning. In addition, at this time there is no reason for introducing administrative measures in the monetary and foreign exchange markets. In accordance with the NBU’s press release, top managers of Ukrainian banks have confirmed their willingness to ensure payments without any interruptions, collection and replenishment of ATMs and terminal networks.
Mr. Pavlo Rozenko, Vice Prime Minister of Ukraine, informed that all social payments, pensions, salaries and other payments will be made on time, in full and without restrictions even in circumstances of martial law. The Ministry of Social Policy of Ukraine shares the same position and confirms that the social protection bodies will work in the regular mode.
Moreover, Mr. Gosta Ljungman, IMF Resident Representative in Ukraine, stated that introduction of martial law does not entail changes in cooperation with Ukraine and the IMF does not intend to revise credit program for Ukraine.
The EBA is in close contact with state authorities and we will keep you posted on any further developments. In case you face any problems and/or difficulties in connection with martial law, please inform us via committees@eba.com.ua.
Source: https://eba.com.ua/en/byuleten-shhodo-voyennogo-stanu-v-krayini/
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